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NAL has a defined benefit plan for all of its employees. NAL recognizes any actuarial gains and losses in the period in which they occur
NAL has a defined benefit plan for all of its employees. NAL recognizes any actuarial gains and losses in the period in which they occur in other comprehensive income ("OCI"). A curtailment has taken place with respect to the pension plan due to the significant reduction in staff and future benefits. As a result, the present value of NAL's defined benefit obligation was reduced from $90 million to $80 million and a $10 million gain has been recorded in OCI
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