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Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021: Prior service cost at Jan.
Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2021: Prior service cost at Jan. 1, 2021, from plan amendment at the beginning of 2019 (amortization: $7 million per year) Net loss-pensions at Jan.1, 2021 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate $52 million $65 million 10 years 89 ($ in millions) PBO Beginning of 2021 $550 Service cost 68 Beginning of 2021 Return on plan assets, Plan Assets $400 Interest cost, 88 44 7.5 (10% expected) Loss (gain) on PBO (3) Less: Retiree benefits (59) Cash contributions Less: Retiree benefits End of 2021 $600 End of 2021 30 79 (59) $450 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2022: ($ in millions) Plan PBO Assets Beginning of 2022 $600 Beginning of 2022 $450 Service cost 58 Return on plan assets, Interest cost, 88 48 18 (10% expected) 81 Loss (gain) on PBO 5 Less: Retiree benefits (36) End of 2022 $675 Cash contributions Less: Retiree benefits End of 2022 50 (36) $545 6. Using T-accounts, determine the balances at December 31, 2022, in the net loss-AOCI and prior service cost-AOCI. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Bal. Jan. 1 Bal. Dec. 31 Net Loss-AOCI Bal. Jan. 1 Prior Service Cost-AOCI Bal. Dec. 31
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