Analyzing and Interpreting Pension FootnoteFunded and Reported Amounts Verizon Communications Inc. reports the following pension data in Note 12 to its 2017 10-K report.

At December 31 ($ millions) Pension 2017

Change in Benefit ObligationsBeginning of year $21,112

Service cost 280

Interest cost 683

Actuarial loss (gain), net 1,377

Benefits paid and settlements (1,932)

Curtailment and termination benefits 11

End of year 21,531

Change in Plan AssetsBeginning of year 14,663

Actual return on plan assets 2,342

Company contributions 4,141

Benefits paid and settlements (1,932)

Divestiture (39)

End of year 19,175

Funded StatusEnd of year (2,356)

a. Show the computation of Verizon's 2017 funded status. Note: Do not use negative signs with any of your answers.

Pension obligation	?	million
Fair value of the plan assets	?	million
AnswerOverfundedUnderfunded	?	million

b. What net pension amount is reported on its 2017 balance sheet?

Asset or Liability

?

million