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A partially completed pension spreadsheet showing the relationships among the elements that constitute Carney, Inc.'s defined benefit pension plan follows. Six years earlier, Carney revised

A partially completed pension spreadsheet showing the relationships among the elements that constitute Carney, Inc.'s defined benefit pension plan follows. Six years earlier, Carney revised its pension formula and recalculated benefits earned by employees in prior years using the more generous formula. The prior service cost created by the recalculation is being amortized at the rate of $7 million per year. At the end of 2021, the pension formula was amended again, creating an additional prior service cost of $45 million. The expected rate of return on assets and the actuary's discount rate were 10%, and the average remaining service life of the active employee group is 10 years. Required:

  1. Fill in the missing amounts. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Enter credit amounts with a minus sign and debit amounts with a positive sign.)
( )s indicate credits; debits otherwise
($ in millions) PBO Plan Assets Prior Service CostAOCI Net Loss-AOCI Pension Expense Cash Net Pension (Liability) / Asset
Balance, Jan. 1, 2021 (830) 660 25 93 (170)
Service cost (70) 70 (70)
Interest cost (83) 83 (83)
Expected return on assets 66 (66) 66
Adjust for:
Loss on assets (8) 8 (8)
Amortization of:
Prior service cost (7) 7
Net loss (1) 1
Loss on PBO (13) 13 (13)
Prior service cost (45) 45 (45)
Cash funding 78 (78) 78
Retiree benefits
Bal., Dec. 31, 2021 (1,041) 735 63 113 95 (245)

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