AK Steel plan deficit hits profits
US - AK Steel Holding Corporation has posted a record net loss of US$430.6m in Q4 of 2008 - including a $699.5m non-cash charge related to the company's pension plan.
AK Steel said most of the non-cash charge ($660.1m) resulted from the company's unique "corridor" pension accounting requirement, while $39.4m resulted from the company's decision in December to lower...
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