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IBM Corp | 8-K: Commitment Agreement

IBM Corp | 8-K: Commitment Agreement

IBM Corp | 8-K：承诺协议
美股SEC公告 ·  09/11 16:32

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On September 5, 2024, IBM Corp entered into a commitment agreement with State Street Global Advisors Trust Company, acting as the independent fiduciary of the IBM Personal Pension Plan, to purchase a group annuity contract from The Prudential Insurance Company of America. This contract, which closed on September 11, 2024, transfers approximately $6 billion of the Plan's defined benefit pension obligations for certain benefits paid prior to 2016. The agreement affects around 32,000 Plan participants and beneficiaries, ensuring that Prudential will be responsible for their pension payments starting January 1, 2025. The transaction, funded by the Plan's assets, requires no cash contribution from IBM and will not alter the benefits for the transferred participants. However, IBM anticipates a one-time non-cash pre-tax pension settlement charge of about $2.7 billion ($2.0 billion net of tax) in Q3 of 2024, which was not previously accounted for in the GAAP forward-looking information. This charge is expected to have no impact on IBM's operating profit or free cash flow for the third quarter or the full year of 2024.
On September 5, 2024, IBM Corp entered into a commitment agreement with State Street Global Advisors Trust Company, acting as the independent fiduciary of the IBM Personal Pension Plan, to purchase a group annuity contract from The Prudential Insurance Company of America. This contract, which closed on September 11, 2024, transfers approximately $6 billion of the Plan's defined benefit pension obligations for certain benefits paid prior to 2016. The agreement affects around 32,000 Plan participants and beneficiaries, ensuring that Prudential will be responsible for their pension payments starting January 1, 2025. The transaction, funded by the Plan's assets, requires no cash contribution from IBM and will not alter the benefits for the transferred participants. However, IBM anticipates a one-time non-cash pre-tax pension settlement charge of about $2.7 billion ($2.0 billion net of tax) in Q3 of 2024, which was not previously accounted for in the GAAP forward-looking information. This charge is expected to have no impact on IBM's operating profit or free cash flow for the third quarter or the full year of 2024.
2024年9月5日，ibm corp与道富银行全球投资者信托公司达成承诺协议，该公司作为ibm个人养老金计划的独立受托人，从美国保德信保险公司购买集体年金合同。这项合同于2024年9月11日结束，将计划在2016年前支付的特定福利的60亿美元养老金义务转移给 Prudential。该协议影响了约32000名计划参与者和受益人，并确保 Prudential 将负责他们自2025年1月1日起的养老金支付。这项交易由计划的资产资助，不需要IBm进行现金贡献，并且不会改变转移参与者的福利。然而，IBm预计在2024年第三季度将有一个一次性非现金税前养老金结算费用，约为27亿美元（税后20亿美元），这在GAAP前瞻信息中此前没有计入。这一费用预计不会对ibm的营业利润或2024年第三季度或全年的自由现金流产生影响。
2024年9月5日，ibm corp与道富银行全球投资者信托公司达成承诺协议，该公司作为ibm个人养老金计划的独立受托人，从美国保德信保险公司购买集体年金合同。这项合同于2024年9月11日结束，将计划在2016年前支付的特定福利的60亿美元养老金义务转移给 Prudential。该协议影响了约32000名计划参与者和受益人，并确保 Prudential 将负责他们自2025年1月1日起的养老金支付。这项交易由计划的资产资助，不需要IBm进行现金贡献，并且不会改变转移参与者的福利。然而，IBm预计在2024年第三季度将有一个一次性非现金税前养老金结算费用，约为27亿美元（税后20亿美元），这在GAAP前瞻信息中此前没有计入。这一费用预计不会对ibm的营业利润或2024年第三季度或全年的自由现金流产生影响。
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