M10-12 Analyzing and Interpreting Pension Disclosure-Expenses and Returns Stanley Black & Decker, INC. discloses the following...
M10-12 Analyzing and Interpreting Pension Disclosure-Expenses and Returns Stanley Black & Decker, INC. discloses the following pension footnote in its 10-K report. ($ millions)- 2012 Service cost-$6.6 Interest cost-$62.9 Expected return on plan assets-($67.1) Prior service cost amortization-$1.0 Transition obligation amortization------ Actuarial loss amortization-$6.2 Settlement/Curtailment loss (gain)-$11.3 Net periodic pension expense-$20.9
Explain use of the word “expected” as it relates to pension plan assets.
Homework Answers
The word "Expected" refers average return form long term investment to company. For calculate pension expenses we are use expected return instead of actual return. Effect is buffer pension expenses and reported income.
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M10-12 Analyzing and Interpreting Pension Disclosure-Expenses
and Returns Stanley Black & Decker, INC. discloses the
following...
Analyzing and Interpreting Pension and Health Care Footnote Xerox Corporation reports the following pension and retiree...
Analyzing and Interpreting Pension and Health Care Footnote Xerox Corporation reports the following pension and retiree health care (“Other”) footnote as part of its 10-K report. December 31, 2015 ($ millions) Pension Benefits Retiree Health Change in Benefit Obligation Benefit obligation, January 1 $11,855 $937 Service cost 36 7 Interest cost 295 34 Plan participants’ contributions 4 14 Actuarial loss (332) (4) Currency exchange rate changes (538) (25) Plan amendments and curtailments (17) (31) Benefits paid/settlements (638) (77) Benefit obligation,...
Assume YUM! Brands, Inc., discloses the following pension footnote in its 10-K report. Pension benefit ($...
Assume YUM! Brands, Inc., discloses the following pension footnote in its 10-K report. Pension benefit ($ millions) 2016 2015 Ben. obligation at beginning of year $700 $629 Service cost 33 32 Interest cost 43 39 Plan amendments - 1 Curtailment gain (2) (2) Settlements lost 1 - Benefits and expenses paid (33) (26) Actual (gain) loss 73 27 Ben. Obligation end of year $815 $700 The fair market value of YUM!’s plan assets is $610 million, as of 2016. What...
M10-21. Analyzing and Interpreting Pension Plan Benefit Footnotes Lockheed Martin Corporation discloses the follow...
M10-21. Analyzing and Interpreting Pension Plan Benefit Footnotes Lockheed Martin Corporation discloses the following funded status for its defined benefit pension plans in its 10-K report, LO2 Lockheed Martin Corporation (LMT) Defined Benefit Pension Plans ($ millions) 2015 Unfunded status of the plans...... .......... $(11,606) Lockheed contributed $5 million to its pension plan assets in 2015, down drastically from $2,000 mil- lion in the prior year. The company also reports that it is obligated for the following expected payments to...
Analyzing and Interpreting Pension Disclosures Assume E.I. Du Pont De Nemours and Co.'s 10-K report has...
Analyzing and Interpreting Pension Disclosures Assume E.I. Du Pont De Nemours and Co.'s 10-K report has the following disclosures related to its retirement plans ($ millions). Pension Benefits ($ millions) 2010 2009 Change in benefit obligation Benefit obligation at beginning of year $ 22,849 $ 22,935 Service cost 383 388 Interest cost 1,228 1,192 Plan participants' contributions 13 9 Acturarial loss (gain) (728) (244) Benefits paid (1,544) (1,506) Amendments -- (1) Net effects of acquisitions/divestitures 5 76 Benefit obligation at...
Presented below is information related to Marina Comp, Inc. pension plan for 2013. Accumulated benefit obligation...
Presented below is information related to Marina Comp, Inc. pension plan for 2013. Accumulated benefit obligation (at year-end) $600,000 Service cost 520,000 Funding contribution for 2013 480,000 Settlement rate used in actuarial computation 10% Expected return on plan assets 9% Amortization of PSC (due to benefit increase) 100,000 Amortization of net gains 48,000 Projected benefit obligation (at beginning of period) 450,000 Fair value of plan assets (at beginning of...
Pension Complete the following. Scottsdale Corp. sponsors a defined benefit pension plan for its employees. On...
Pension Complete the following. Scottsdale Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. Plan assets $480,000 Projected benefit obligation 625,000 Accumulated OCI (PSC) 100,000 Dr. Accumulated OCI (Gain/Loss) 85,000 Cr. As a result of the operation of the plan during 2017, the following additional data are provided by the actuary: Service cost for 2017 $90,000 Settlement rate 9% Actual return on plan assets in 2017 57,000 Expected...
The following information relates to the contributory, defined pension plan of Klarbrun Inc. Account Balances Projected...
The following information relates to the contributory, defined pension plan of Klarbrun Inc. Account Balances Projected Benefit Obligation.. Plan Assets.. Accumulated OCI—Prior Service Cost... Jan. 1, 2020 $75,000 Cr. 78,750 Dr. 49,500 Dr. . Activity 2020 Service cost ........ $ 49,000 Interest cost 6,000 Prior service cost amortization. 500 Actual return on plan assets (same as expected return) 4.725 Cash funding by company 37,500 Cash funding by plan participants 10,000 Pension benefits paid to retirees 5,000 Net income... 500,000 Required...
Scroll down to complete all parts of this task. Select from the option list provided the...
Scroll down to complete all parts of this task. Select from the option list provided the term relevant to defined benefit pension accounting that corresponds to each definition. Each choice may be used once or not at all. Choices: Actual return on plan assets Prior service cost Transition asset or obligation Assey reversionary transaction Accumulated other comprehensive income Projected benefit obligation Expected return on plan assets Other comprehensive income Prior service credit Amortization of actuarial gains and losses Service cost...
Exercise 20-10 (Part Level Submission) Novak Corp. sponsors a defined benefit pension plan for its employees....
Exercise 20-10 (Part Level Submission) Novak Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. Plan assets Projected benefit obligation Pension asset/liability Accumulated OCI (PSC) $469,800 607,000 137,200 97,100 Dr. As a result of the operation of the plan during 2017, the following additional data are provided by the actuary. Service cost $91,100 Settlement rate, 8% Actual return on plan assets Amortization of prior service cost Expected return...
Preparing Pension Entries and Pension Worksheet Rollo Company has a defined benefit pension plan. At the...
Preparing Pension Entries and Pension Worksheet Rollo Company has a defined benefit pension plan. At the end of the current reporting period, December 31, 2020, the following information was available: Projected benefit obligation Balance, Jan. 1, 2020 $300,000 Service cost 80,000 Interest cost ($150,000 x 10% discount rate) 30,000 Change in actuarial assumptions on Dec. 31, 2020 (800) Pension benefits paid (84,000) Balance, Dec. 31, 2020 $325,200 Accumulated benefit obligation $240,000 Vested benefit obligation $80,000 Plan assets Balance, Jan. 1,...
M10-21. Analyzing and Interpreting Pension Plan Benefit Footnotes Lockheed Martin Corporation discloses the following funded status for its defined benefit pension plans in its 10-K report, LO2 Lockheed Martin Corporation (LMT) Defined Benefit Pension Plans ($ millions) 2015 Unfunded status of the plans...... .......... $(11,606) Lockheed contributed $5 million to its pension plan assets in 2015, down drastically from $2,000 mil- lion in the prior year. The company also reports that it is obligated for the following expected payments to...
The following information relates to the contributory, defined pension plan of Klarbrun Inc. Account Balances Projected Benefit Obligation.. Plan Assets.. Accumulated OCI—Prior Service Cost... Jan. 1, 2020 $75,000 Cr. 78,750 Dr. 49,500 Dr. . Activity 2020 Service cost ........ $ 49,000 Interest cost 6,000 Prior service cost amortization. 500 Actual return on plan assets (same as expected return) 4.725 Cash funding by company 37,500 Cash funding by plan participants 10,000 Pension benefits paid to retirees 5,000 Net income... 500,000 Required...
Exercise 20-10 (Part Level Submission) Novak Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances relate to this plan. Plan assets Projected benefit obligation Pension asset/liability Accumulated OCI (PSC) $469,800 607,000 137,200 97,100 Dr. As a result of the operation of the plan during 2017, the following additional data are provided by the actuary. Service cost $91,100 Settlement rate, 8% Actual return on plan assets Amortization of prior service cost Expected return...
Preparing Pension Entries and Pension Worksheet Rollo Company has a defined benefit pension plan. At the end of the current reporting period, December 31, 2020, the following information was available: Projected benefit obligation Balance, Jan. 1, 2020 $300,000 Service cost 80,000 Interest cost ($150,000 x 10% discount rate) 30,000 Change in actuarial assumptions on Dec. 31, 2020 (800) Pension benefits paid (84,000) Balance, Dec. 31, 2020 $325,200 Accumulated benefit obligation $240,000 Vested benefit obligation $80,000 Plan assets Balance, Jan. 1,...
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