Press Release: Scholastic Reports Fiscal 2015 Second Quarter Results
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Defined Benefit Pension Plan
During the quarter, the Company offered certain former employees the option of receiving one-time lump sum payments from the plan, and recorded a non-cash pre-tax settlement charge of $3.7 million in connection with these payments. The settlement charge accelerates the recognition of unrecognized pension benefit costs that would have been incurred in subsequent periods.
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- Companies:
- Scholastic Inc.
- Places:
- Canada
- New York City
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