UPS to take $827M charge for accounting change - Atlanta Business Chronicle
United Parcel Service Inc. will take $827 million for the fourth quarter of 2011 due to a change in pension accounting.
“This policy provides greater transparency to the company’s underlying operating results,” said Kurt Kuehn, UPS chief financial officer, in a statement. “I want to emphasize that this change has no impact on benefits for plan participants or UPS cash flow.”
United Parcel Service Inc. will take $827 million for the fourth quarter of 2011 due to a change in pension accounting.
“This policy provides greater transparency to the company’s underlying operating results,” said Kurt Kuehn, UPS chief financial officer, in a statement. “I want to emphasize that this change has no impact on benefits for plan participants or UPS cash flow.”