The following pension information was disclosed by Bloomington, Inc. (in millions)
A. What is "service cost"? How does it affect Bloomington's total pension expense for the year?
B. Bloomington reports an actuarial loss of $327.6 million for 2016. What is this loss and how does Bloomington account for it?
C. How much did Bloomington contribute to the pension plan during 2016?
D. What amount of pension benefits were paid to former Bloomington employees during the year?
E. Explain the funded status of the pension plan in 2016 and compare it to the funded status in 2015. Are these amounts significant?

Question

The following pension information was disclosed by Bloomington, Inc. (in millions)
  A. What is "service cost"? How does it affect Bloomington's total pension expense for the year?
B. Bloomington reports an actuarial loss of $327.6 million for 2016. What is this loss and how does Bloomington account for it?
C. How much did Bloomington contribute to the pension plan during 2016?
D. What amount of pension benefits were paid to former Bloomington employees during the year?
E. Explain the funded status of the pension plan in 2016 and compare it to the funded status in 2015. Are these amounts significant?

Quizplus · Accepted Answer

The Answer of The following pension information was disclosed by Bloomington, Inc. (in millions)
  A. What is "service cost"? How does it affect Bloomington's total pension expense for the year?
B. Bloomington reports an actuarial loss of $327.6 million for 2016. What is this loss and how does Bloomington account for it?
C. How much did Bloomington contribute to the pension plan during 2016?
D. What amount of pension benefits were paid to former Bloomington employees during the year?
E. Explain the funded status of the pension plan in 2016 and compare it to the funded status in 2015. Are these amounts significant?

The Following Pension Information Was Disclosed by Bloomington, Inc