Alcoa Faces $1-Billion Pension Cost: Aluminum Co....
From Times Staff and Wire Reports
Alcoa Faces $1-Billion Pension Cost: Aluminum Co. of America must deduct about $1 billion from its earnings, either in a lump sum or over 20 years, because of a change in how companies account for retiree health-care benefits, the company says. The estimate is contained in Alcoa’s annual report to shareholders. Company officials said the deduction would be a non-cash charge for a liability that Alcoa already acknowledges.
