Reported 28 days ago
IBM revealed it will incur a pre-tax charge of approximately $2.7 billion in Q3 2024 due to transferring nearly $6 billion in pension obligations to Prudential Financial. This deal will shift the responsibility for pension benefits for about 32,000 participants to Prudential starting next year. The one-time charge is non-cash and will not affect IBM's adjusted operating profit or free cash flow for the year.
Source: YAHOO