"Fully funding retiree healthcare benefits increases cash contributions by 103 percent from $1.78 billion to $3.62 billion; however, the result is a smaller increase in the expected balance sheet liability at fiscal year end 2014. Under the full funding scenario, the balance sheet liability is expected to increase from $16.12 billion at fiscal year end 2013 to $16.42 billion at fiscal year end 2014. The partial funding policy also controls the growth in the balance sheet liability and reduces the expected balance sheet liability at fiscal year end 2014 by approximately 8 percent from $19.46 billion to $17.81 billion."

MORE >>