financetom
Forex World Market Business Cryptocurrency Commodities MAP
financetom
Business
financetom
/
Business
/
International Business Machines to Record $2.7 Billion Charge Related to Transfer of Pension Obligation
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
International Business Machines to Record $2.7 Billion Charge Related to Transfer of Pension Obligation
Sep 12, 2024 9:21 PM

06:26 AM EDT, 09/12/2024 (MT Newswires) -- International Business Machines ( IBM ) said late Wednesday that it expects to incur a charge of $2.7 billion in Q3 due to the transfer of certain of its pension obligations to Prudential.

The company said it has agreed with Prudential for a $6 billion annuity contract to transfer certain pension obligations.

The deal, which was completed on Wednesday, affects about 32,000 participants, with Prudential taking over payments starting Jan. 1, 2025.

The company said the actual charge would depend on finalizing the actuarial and other assumptions.

It said the charge would not impact the company's Q3 or fiscal 2024 adjusted operating profit or free cash flow.

Price: 209.30, Change: -0.59, Percent Change: -0.28

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Mahindra, Volvo among corporations pushing for fossil fuel exit at COP28
Mahindra, Volvo among corporations pushing for fossil fuel exit at COP28
Oct 23, 2023
Companies are increasingly committing to their own timelines for reducing their emissions, but many acknowledge that their ability to slow planet-warming CO2 emissions is contingent on faster action from governments.
 IMF warns Europe against prematurely declaring victory over inflation
IMF warns Europe against prematurely declaring victory over inflation
Nov 8, 2023
The Washington-based IMF said that cost of underestimating inflation’s persistence could be painfully high and result in another painful round of rate hikes that could rob the economy of a large chunk of growth.
 Pakistan's national carrier resorts to flight cancellation owing to non-payment of dues
Pakistan's national carrier resorts to flight cancellation owing to non-payment of dues
Oct 23, 2023
The airline, which was once considered the pride of Pakistan and was the first international airline to be given access to fly to Beijing, is said to be suffering millions in losses on a daily basis.
 This bank will cut bonus if employees don't come back to work
This bank will cut bonus if employees don't come back to work
Nov 22, 2023
ANZ managers have informed their respective teams about the new policy this week in generic emails, reaffirming the bank's expectation that staff devote at least half their working hours in the office each month, afr.com reported.
About
Terms and Conditions Privacy policy Cookie Settings Contact Us
Services
Login register
financetom Market Personal Finance Business Economy Cryptocurrency MAP
Links
zpostcode Recruit weather mreligion Yellowpages sport constellation shopping name game directory literature Word tour furnish Lottery tftnews lyrics News digital car dir Edu Finance
Copyright 2023-2026 - www.financetom.com All Rights Reserved