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The pension plan was amended last year, creating a prior service cost of $200 million. Service cost and interest cost for the year were
The pension plan was amended last year, creating a prior service cost of $200 million. Service cost and interest cost for the year were $50 million and $24 million, respectively. At the end of the year, there was a negligible balance in the net gain-pensions account. The actual return on plan assets was $24 million although it was expected to be $28 million. On average, employees' remaining service life with the company is 20 years." What was the total pension cost for the year? (Amounts to be deducted should be indicated with a minus sign.) ($ in millions) Pension cost $ 0 12 Next >
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