Question: White River Company has a defined benefit pension plan in which the fair value of plan assets (FVPA) exceeds the present value of defined benefit

White River Company has a defined benefit pension plan in which the fair value of plan assets (FVPA) exceeds the present value of defined benefit obligations (PVDBO). The following information is available at December 31, Year 1 (amounts in millions):
PVDBO ………………………….. $3,200
FVPA …………………………….. 3,700
Because the FVPA exceeds the PVDBO, White River will be able to reduce future contributions to the plan for several years. The present value of reductions in future contributions is $100 million.
Required:
Determine the amount at which White River Company will report a defined pension benefit asset on its December 31, Year 1, balance sheet under (a) IFRS and (b) U.S. GAAP

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