Shell balance sheet takes £12.3bn hit due to IAS19R

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Royal Dutch Shell has reported a $19.2bn (£12.3bn) impact on its balance sheet after implementing the revised IAS19 accounting standard for its pension scheme, its latest results show.

The Anglo-Dutch oil giant restated its balance sheet from December 2012 using the revised standards. It showed a jump from a retirement benefit surplus of £4bn to a deficit of £8.3bn. Previously...

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