5. Other Postemployment Benefits (OPEB) numbers are similar to defined benefit plans and are usually included...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
5. Other Postemployment Benefits (OPEB) numbers are similar to defined benefit plans and are usually included in the same footnote(s). The 2016 year-end OPEB balances are stated below (in millions). OPEB Benefit Obligation Fair Value of Plan Assets Net Amount Recognized Net Benefit Cost DuPont Funding Status OPEB Obligation/TA Net Amount Recognized / TA OPEB Expense / NI 2829 0 -2829 -350 DuPont Dow 1835 0 Dow -1835 55 PPG a. Calculate funding status (overfunded or underfunded, based on net amount recognized), OPEB obligation to assets, net amount recognized to total assets, and OPEB expense (net benefit cost) to net income. 792 0 PPG -792 34 b. Evaluate OPEB obligations for these chemical companies and the relationship to pension obligations. Are there any concerns? Explain. 5. Other Postemployment Benefits (OPEB) numbers are similar to defined benefit plans and are usually included in the same footnote(s). The 2016 year-end OPEB balances are stated below (in millions). OPEB Benefit Obligation Fair Value of Plan Assets Net Amount Recognized Net Benefit Cost DuPont Funding Status OPEB Obligation/TA Net Amount Recognized / TA OPEB Expense / NI 2829 0 -2829 -350 DuPont Dow 1835 0 Dow -1835 55 PPG a. Calculate funding status (overfunded or underfunded, based on net amount recognized), OPEB obligation to assets, net amount recognized to total assets, and OPEB expense (net benefit cost) to net income. 792 0 PPG -792 34 b. Evaluate OPEB obligations for these chemical companies and the relationship to pension obligations. Are there any concerns? Explain.
Expert Answer:
Answer rating: 100% (QA)
a Calcul ate funding status over funded or under funded based on net amount recognized O PE B obliga... View the full answer
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: ?978-0073379609
15th Edition
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
Posted Date:
Students also viewed these accounting questions
-
The two main types of pension plans are defined benefit plans and defined contribution plans. Explain the difference between the two. How does the accounting for each differ? With defined benefit...
-
Postretirement benefits other than pensions (OPRBs) are similar to defined benefit pension plans in some respects and different in others. Required: a. Discuss the characteristics of OPRBs that make...
-
12,000 Fair value of plan assets, January 1, 20X1 344,000 Current service cost for 20X1 219,200 Plan contribution for 20X1 made on March 1, 20X1 424,000 Benefits paid in 20X1 57,500 Yield on...
-
Consider the real projective n-space RP" obtained by identifying each point S" with its antipode -r. (a) Compute its fundamental group. (b) Find all its covering spaces up to isomorphism.
-
In a study of the pernicious giant hogweed, Jan Pergl1 and associates compared the density of these plants in two different sites within the Caucasus region of Russia. In its native area, the average...
-
What are the two methods for estimating debit cost of capital, and what do you do when there is default risk? Explain the circumstances in which you would use each method.
-
Refer to Figure 8, the sequence diagram for the Make Appointment use case. Three spaces are identified in this diagram. Explain the significance of each.
-
Assume that Posies Unlimited does a regression analysis on the next years data using Excel. The output generated by Excel is as follows: Requirements 1. Determine the firms cost equation (use the...
-
1 2 3 How many time will the following print statement execute? for i in range (4): for j in range (8) :) print (f" ({i}, {j})")
-
Draw the starting materials (diene and dienophile) for the preparation of the following compounds. X COOH COOH
-
How to solve this issue? The hydrometer shown in the figure below has a mass of 0.06 kg and the diameter of its stem is 7.1 mm. When the hydrometer floats in two different liquids, the absolute...
-
Use a calculator to evaluate the present value of an annuity formula \[P=m\left[\frac{1-\left(1+\frac{r}{n}ight)^{-n t}}{\frac{r}{n}}ight]\] for the values of the variables \(m, r\), and \(t\)...
-
The UK wont meet its targets on renewable energy if offshore wind farm costs continue to spiral, the government has been warned. Centrica said the chance of making any money from wind farms being set...
-
Find the sum of the first \(n\) odd positive integers.
-
In Problems 23-34, find the value of each annuity at the end of the indicated number of years. Assume that the interest is compounded with the same frequency as the deposits. Amount of Deposit m 29....
-
In Problems 20-52: a. State the type; and \(\mathbf{b}\). Answer the question. What is the monthly payment for a home costing \(\$ 425,000\) with a \(20 \%\) down payment and the balance financed for...
-
Find the solution of the initial value problem 1 - 4y" 5y+y=0, y(0) = 4, y'(0) = 4 Then determine the maximum value M of the solution and also find the point where the solution is zero. y(t) = M =...
-
Find the equation of the plane passing through the points P 5,4,3 ,Q 4,3,1 and R 1,5,4
-
Explain the distinction(s) between agency funds and trust funds.
-
Government-wide Financial Analysis. Condensed government-wide financial information from the comprehensive annual financial report for the Commonwealth of Pennsylvania for the fiscal year ended June...
-
Utilizing the CAFR obtained for Exercise 1-1 and your answers to the questions asked in Chapters 1 through 9, assess the financial condition of the government. For purposes of this project, financial...
-
An article states there is no significant evidence that median income increased. The implied null hypothesis is: (1) Median income increased. (2) Median income changed. (3) Median income did not...
-
If you make multiple measurements of your height, you are likely to find that the results vary by nearly half an inch in either direction due to measurement error and actual variations in he ight....
-
Migrating geese tend to travel at approximately constant speed, flying in segments that are straight lines. A goose flies 32 km south, then turns to fly 20 km west. Afterward, how far is the goose...
Study smarter with the SolutionInn App