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AT&T Inc Faces $10 Billion Pension Charge, Other Costs; Sees Q4 2012 Charge Guidance; Comments On Q4 2012 Operating Income Guidance-Reuters

Thursday, 17 Jan 2013 07:33pm EST 

Reuters reported that AT&T Inc warned on Thursday that it will take a fourth quarter 2012 charge of about $10 billion due to bigger than expected pension obligations. The company results would be hurt by higher than expected smartphone costs and damage due to Superstorm Sandy. AT&T said the pension charge related to an actuarial loss of about $12 billion, which was partially offset by an asset gain of about $1.9 billion. The Company expects to report a $175 million reduction in its operating income due to storms, including Superstorm Sandy, which damaged cellphone towers and caused days of service outages in some locations in the U.S. Northeast in late October and into November 

Company Quote

18 Dec 2014