AT&T Has $10 Billion Pension Charge, Sees Margin Pressure
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AT&T Inc., the largest U.S. phone company, recorded a $10 billion fourth-quarter charge for its pension plan and said smartphone discounts and costs related to Superstorm Sandy cut into profit.
The Dallas-based company said in a filing yesterday that it lowered its expected long-term rate of return on the pension to 7.75 percent, citing “continued uncertainty” for the stock market and the U.S. economy.