YUM! Brands, Inc., reports the following pension footnote in Note 14 of a recent 10-k report. U.S. Pension Plans December 31 (In millions) Change in benefit obligation Benefit obligation at beginning of year Service cost Interest cost Curtailment gain Special termination benefits Benefits paid Actuarial (gain) loss Benefit obligation at end of year Change in plan assets Fair value of plan assets at beginning of year Actual return on plan assets Employer contributions Benefits paid Administrative expenses Fair value of plan assets at end of year Funded status $1,358 24 64 Pension obligation $ Fair value of the plan assets $ $ 75 (7) (40) 227 $1,631 $937 83 53 (40) (5) $1,028 $(603) a. Show the computation of the December 31 funded status for Yum. Note: Do not use negative signs with any of your answers, million million million b. What net pension amount is reported on its December 31 balance sheet? million
YUM! Brands, Inc., reports the following pension footnote in Note 14 of a recent 10-k report. U.S. Pension Plans December 31 (In millions) Change in benefit obligation Benefit obligation at beginning of year Service cost Interest cost Curtailment gain Special termination benefits Benefits paid Actuarial (gain) loss Benefit obligation at end of year Change in plan assets Fair value of plan assets at beginning of year Actual return on plan assets Employer contributions Benefits paid Administrative expenses Fair value of plan assets at end of year Funded status $1,358 24 64 Pension obligation $ Fair value of the plan assets $ $ 75 (7) (40) 227 $1,631 $937 83 53 (40) (5) $1,028 $(603) a. Show the computation of the December 31 funded status for Yum. Note: Do not use negative signs with any of your answers, million million million b. What net pension amount is reported on its December 31 balance sheet? million
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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