Required information

Problem 17-16 Comprehensive-reporting a pension plan; pension spreadsheet; determine changes in balances; two years [LO17-3, 17-4, 17-5, 17-6, 17-7, 17-8]

[The following information applies to the questions displayed below.] Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2018:

Prior service cost at Jan. 1, 2018, from plan amendment at the beginning of 2016 (amortization: $6 million per year)	$	36	million
Net losspensions at Jan.1, 2018 (previous losses exceeded previous gains)	$	64	million
Average remaining service life of the active employee group		10	years
Actuarys discount rate		10	%

($ in millions)

	PBO				Plan Assets
Beginning of 2018	$	340		Beginning of 2018		$	200
Service cost		48		Return on plan assets,
Interest cost, 10%		34		9.5% (10% expected)			19
Loss (gain) on PBO		(2	)	Cash contributions			61
Less: Retiree benefits		(30	)	Less: Retiree benefits			(30	)
End of 2018	$	390		End of 2018		$	250

Problem 17-16 Part 7

7. Prepare a pension spreadsheet to assist you in determining end of 2018 balances in the PBO, plan assets, prior service costAOCI, the net lossAOCI, and the pension liability. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Enter credit amounts with a minus sign and debit amounts with a positive sign.)

Net Pension Prior Service Net Loss Pension ($ in millions) (Liability) Asset PBO Plan Assets Cash Cost-AOCI -AOCI Expense 250 Bal., Jan. 1, 2019 (390) 0 0 Service cost Interest cost, 10% Expected return on assets Gain on assets Amortization of: Prior service cost-AOCI Net loss-AOCI Loss on PBO Cash contributions Retiree benefits Bal., Dec. 31, 2019 0.0 0.0 (390) 250 0 Net Pension Prior Service Net Loss Pension ($ in millions) (Liability) Asset PBO Plan Assets Cash Cost-AOCI -AOCI Expense 250 Bal., Jan. 1, 2019 (390) 0 0 Service cost Interest cost, 10% Expected return on assets Gain on assets Amortization of: Prior service cost-AOCI Net loss-AOCI Loss on PBO Cash contributions Retiree benefits Bal., Dec. 31, 2019 0.0 0.0 (390) 250 0