AT&T Expects to Record Gain of $2.8 Billion Related to Pension Obligations in 1Q
April 09 2021 - 7:53AM
Dow Jones News
By Dave Sebastian
AT&T Inc. said it expects to record a roughly $2.8 billion
gain related to pension-benefit obligations after its recent
resizing and restructuring.
The telecommunications company on Friday said it sees total
distributions from the pension plan to exceed the threshold of
service and interest costs for 2021. The $2.8 billion figure is a
non-cash pre-tax actuarial gain, primarily due to an increase in
the discount rate used to measure the obligation, AT&T
said.
The company classifies actuarial gains and losses on pension and
postretirement plan assets and obligations as "other income
(expense)," it said.
For the first-quarter results, the company said it would recast
its communication segment results to remove video and government
solutions held-for-sale businesses, reporting those results in
"Corporate and Other."
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
April 09, 2021 07:38 ET (11:38 GMT)
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