NEW YORK (AP) — UPS says a charge related to a new method of accounting for pensions and retirement plans will significantly reduce its reported earnings for the fourth-quarter and full year of 2011.
The Atlanta company expects to record a pretax $827 million charge in the fourth quarter. That will cut earnings per share by 51 cents for the quarter and 41 cents for the year.
Under the new method, UPS Inc. will take gains and losses in the year they're incurred rather than over time.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
