This publication highlights some of the important accounting considerations related to the calculations and disclosures entities provide under U.S. GAAP1 in connection with their defined benefit pension and other postretirement benefit plans. Many of these considerations have been included in prior Financial Reporting Alerts and are summarized below. In the current year, emerging issues and disclosure items include (1) refinements to discount rate selection methods; (2) the effective dates for ASU 2017-07,2 which addresses income statement presentation of the components of net periodic benefit cost; and (3) the effective dates for ASU 2018-14,3 which addresses disclosure requirements related to defined benefit plans.
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