The Company previously expensed the cost of postretirement benefits other than pension, which are principally health care, as claims were incurred by the employees and paid by the Company. |
Previously, the costs of postemployment and postretirement benefits other than pensions were charged to earnings in the period in which they were paid. |
The preceding data in this note conforms with current accounting standards that specify use of a discount rate at which postretirement liabilities could be effectively settled. |
The cost of postretirement, non-pension employee benefits is paid by Management Board Secretariat and is not included in the above figures. |
The Company provides postretirement benefits to eligible employees. |
There were some postretirement announcements confirming what we had suspected: that we have been rooting for gay athletes for years. |