NEW YORK (AP) — UPS says a charge related to a new method of accounting for pensions and retirement plans will significantly reduce its reported earnings for the fourth-quarter and full year of 2011.
The Atlanta company expects to record a pretax $827 million charge in the fourth quarter. That will cut earnings per share by 51 cents for the quarter and 41 cents for the year.
Under the new method, UPS Inc. will take gains and losses in the year they're incurred rather than over time.
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