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AT&T (T) -1.4% AH after disclosing its expects to record a $10B non-cash charge for Q4...

AT&T (T) -1.4% AH after disclosing its expects to record a $10B non-cash charge for Q4 related to pension/benefit plan losses. A $12B actuarial loss produced by a lower assumed discount rate is partly offset by a $1.9B asset gain. In October, the telco asked the Department of Labor to let it use $9.5B in preferred equity interest to help cover a pension shortfall that had reached $10.2B at the end of 2011.
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Comments (5)
  • Clayton Rulli
    , contributor
    Comments (3136) | Send Message
     
    ATT having trouble with Pensions? NO WONDER the government is broke
    17 Jan 2013, 08:33 PM Reply Like
  • Kyle Spencer
    , contributor
    Comments (1222) | Send Message
     
    Still waiting on the bond vigilantes to show up.
    17 Jan 2013, 10:37 PM Reply Like
  • tradewin
    , contributor
    Comments (632) | Send Message
     
    Dept. of Labor has yet to approve this non-cash charge to re fund the pension plan. A substantial equity interest in their Mobility business unit is slated to be moved to the AT&T Pension Trust, tax deductible, not affecting cash-flow and after this was announced back in Nov. they actually increased their dividend. It was a smart move.
    18 Jan 2013, 12:02 AM Reply Like
  • Tom in Texas
    , contributor
    Comments (358) | Send Message
     
    4 billion here (T-Mobile), 10 billion there, pretty soon it adds up.
    Long T, but...
    18 Jan 2013, 03:19 AM Reply Like
  • Okatie Jack
    , contributor
    Comments (92) | Send Message
     
    old news
    18 Jan 2013, 05:11 AM Reply Like
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