Mead Johnson Nutrition Co., Glenview, Ill., plans to adopt mark-to-market pension accounting, starting with the current quarter, which ends March 31, to bolster earnings, according to a filing Friday with the Securities and Exchange Commission.
“As a result, we expect the change in accounting to have a positive impact on 2014 non-GAAP earnings,” the filing said, referring to generally accepted account principles. “This will not, however, reflect a change in the underlying business performance.”
For 2013, it reported $43.1 million in pension and other postemployment retirement benefit plan expense.
The company had $312.1 million in defined benefit pension assets and $463.6 million in liabilities as of Dec. 31, 2012, the latest data available. It made $28.1 million in pension contributions in 2012.
Christopher Perille, Mead Johnson spokesman, couldn’t be reached for comment.
