AT&T to take $7.6B non-cash gain

|About: AT&T Inc. (T)|By:, SA News Editor

AT&T (T) will book a non-cash gain of approximately $7.6B on its Q4 earnings, due to changes in its pension fund and retiree benefit plans.

AT&T has altered its assumptions on interest rates and is enjoying a better-than-expected return on assets,

However, the carrier is also taking a $500M charge for a voluntary retirement package that 4,200 workers accepted. (8-K)

Meanwhile, AT&T has sold an office complex east of San Francisco to MetLife (MET) and Sunset Development for over $250M. AT&T will lease back half of the 1.8M square foot property. MetLife will own 49% of the asset.