US telecom firm AT&T said Thursday it would take a $10 billion write-down on its fourth quarter earnings to cover accounting losses in its pension funds due to lower-than-expected interest rates.
The number two US wireless carrier said a lowered estimation of what it will earn on assets resulted “in an actuarial loss of approximately $12.0 billion,” which will result in the $10 billion pre-tax writeoff.
AT&T to take $10 bn charge over pension plan loss
