Analyzing and Interpreting Pension and Health Care Footnote. How much cash did Norfolk Southern pay...

50.1K

Verified Solution

Question

Accounting

Analyzing and Interpreting Pension and Health Care Footnote.

How much cash did Norfolk Southern pay these retirees in 2018?

I have tried a number of answers for this field that were all incorrect including 185, 37, 44, 42, and many more. Nothing seems to be correct. Thanks!

image

image

39 7 Analyzing and Interpreting Pension and Health Care Footnote Norfolk Southern Railroad reports the following pension and other postretirement benefits footnote as part of its 10-K report. Other Post- Pension Retirement December 31, 2018 ($ millions) Benefits Benefits Change in Benefit obligation Benefit obligation at beginning of year $2,541 $510 Service cost Interest cost 83 15 Actuarial losses (gains) (149) (24) Benefits paid/settlements (143) (42) Benefit obligation at end of year $2,371 $466 Change in plan assets Fair Value of plan assets at beginning of year $2,373 $201 Actual return on plan assets (143) (19) Employer contribution Benefits paid (143) (42) Fair value of plan assets at end of year $2,105 $158 Net cost benefit Service cost $ 39 $7 Interest cost 83 Expected return on plan assets (177) (15) Amortization of net losses 57 Amortization of prior service cost (benefit) (24) Net cost (benefit) $2 $(17) 18 18 15 (1) How much cash did retirees receive in 2018 from the pension plan and other postretirement benefits plans? Pension = $ 143 million Postretirement benefits = $ 42 million How much cash did Norfolk Southern pay these retirees in 2018? $ 15 x million

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students