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IBM Corp | 8-K: Commitment Agreement

IBM Corp | 8-K: Commitment Agreement

IBM Corp | 8-K：承諾協議
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與道富銀行全球投資者信託公司達成承諾協議，該公司作爲ibm個人養老金計劃的獨立受託人，從美國保德信保險公司購買集體年金合同。這項合同於2024年9月11日結束，將計劃在2016年前支付的特定福利的60億美元養老金義務轉移給 Prudential。該協議影響了約32000名計劃參與者和受益人，並確保 Prudential 將負責他們自2025年1月1日起的養老金支付。這項交易由計劃的資產資助，不需要IBm進行現金貢獻，並且不會改變轉移參與者的福利。然而，IBm預計在2024年第三季度將有一個一次性非現金稅前養老金結算費用，約爲27億美元（稅後20億美元），這在GAAP前瞻信息中此前沒有計入。這一費用預計不會對ibm的營業利潤或2024年第三季度或全年的自由現金流產生影響。
2024年9月5日，ibm corp與道富銀行全球投資者信託公司達成承諾協議，該公司作爲ibm個人養老金計劃的獨立受託人，從美國保德信保險公司購買集體年金合同。這項合同於2024年9月11日結束，將計劃在2016年前支付的特定福利的60億美元養老金義務轉移給 Prudential。該協議影響了約32000名計劃參與者和受益人，並確保 Prudential 將負責他們自2025年1月1日起的養老金支付。這項交易由計劃的資產資助，不需要IBm進行現金貢獻，並且不會改變轉移參與者的福利。然而，IBm預計在2024年第三季度將有一個一次性非現金稅前養老金結算費用，約爲27億美元（稅後20億美元），這在GAAP前瞻信息中此前沒有計入。這一費用預計不會對ibm的營業利潤或2024年第三季度或全年的自由現金流產生影響。
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