This Financial Reporting Alert highlights accounting considerations related to the calculations and disclosures that entities provide under U.S. GAAP in connection with their defined benefit pension and other postretirement benefit plans. This update includes a discussion of:

• Disclosures related to defined benefit plans under ASC 715, as amended by FASB Accounting Standards Update (ASU) No. 2018-14.
• Presentation of net periodic benefit cost under ASC 715, as amended by ASU 2017-07.
• The October 26, 2018, ruling of the High Court of Justice in the United Kingdom related to equalization of benefits payable to men and women under U.K. defined benefit plans.
• Considerations related to an entity’s discount rate selection method, its use of a yield curve, and its measurement of components of benefit cost.
• Recent SEC staff views on:
  • Disclosures about critical accounting estimates, discount rate assumptions, and liquidity and capital resources.
  • Non-GAAP measures.

This publication was released by our US firm.

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