Business, 16.11.2019 03:31, datzmypupppup
Caterpillar, inc. discloses the following pension footnote in its 2016 10-k report (in millions):
u. s. pension benefits
2016
change in benefit obligation
benefit obligation, beginning of year
$15,792
service cost
119
interest cost
517
plan amendments
actuarial losses (gains)
767
foreign currency exchange rates
participant contributions
benefits paid - gross
(970
)
less: federal subsidy on benefits paid
curtailments, settlements and termination benefits
(7
)
benefit obligation, end of year
$16,218
the fair value of caterpillar’s u. s. pension assets is $11,354 million as of 2016.
what is the funded status of the plan, and how will this be reflected on caterpillar’s balance sheet?
select one:
a. the pension plan is overfunded by $4,438 million and is reported as an asset on the company’s balance sheet.
b. the pension plan is underfunded by $4,864 million and is reported as a liability on the company’s balance sheet.
c. the pension plan is overfunded by $4,864 million and is reported as an asset on the company’s balance sheet.
d. the pension plan is underfunded by $6,804 million and is reported as a liability on the company’s balance sheet.
e. the pension plan is underfunded by $4,438 million and is reported as a liability on the company’s balance sheet.
Answers: 2
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Caterpillar, inc. discloses the following pension footnote in its 2016 10-k report (in millions):
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