(Bloomberg) -- AT&T Inc., the biggest U.S. phone company, said its fourth-quarter results will include a non-cash gain of about $7.6 billion to account for changes in its pension fund and retiree benefit plans.

The increase is due to an adjustment in the carrier’s assumptions on interest rates and a better-than-expected return on assets, Dallas-based AT&T said yesterday in a filing. Updated estimates for mortality and other demographic changes offset some of the gains, the company said.

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