Investor Presentaiton
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SINGLE-EMPLOYER PENSION PLANS
Certain employees not covered by collective bargaining
agreements.
Plans closed to new participants effective January 1, 2004
with benefit accrual for active employees frozen effective
July 1, 2008.
Future funding requirements are primarily driven by
movements in plan asset returns and discount rate.
Long-term strategy is to reduce the risk of the underfunded
plans.
On average, the single-employer pension expense from 2015
-
2017 was approximately $17 million per year, excluding
the expense recognition of settlements from lump sum
payouts.
Single-employer pension settlement charge at YRC Freight
of $7.2 million in 3Q 2018, with another charge expected in
4Q 2018. These charges will not impact the Company's cash
balance or liquidity and will be excluded from Adjusted
EBITDA and operating income.
Cash Contributions to Single-
$71
Employer Pension Plans
(in millions)
$67
(a)
$56
$15
2015A
2016A
2017A
2018E
(a)
Reflects a $12.2 million contribution due in January 2017 that was paid in December 2016
(b) Reflects a $14.0 million contribution due in January 2018 that was paid in December 2017
YRC WORLDWIDE INVESTOR PRESENTATION
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