Calculating non operating assets for FCFF

CFA Level II Equities
#1

operating assets of Gothenburg Extrusion AB at 720 million Swedish kronor (SEK). The company also has short-term cash and securities with a market value of 60 million. The noncurrent investments have a market value of 45 million. The company also has an overfunded pension plan, with plan assets of 210 million and Plan liabilities of 170 million. Gothenburg Extrusion has 215 million of notes and bonds outstanding and 100 million outstanding shares. What is the value per share of Gothenburg Extrusion stock?
image

Had it been a pension deficit, would we still include it in non-operating assets?
Thanks in advance

#2

If it were a deficit, it would be reported as a liability, not an asset.

#3

Yes, that makes sense, but my doubt was if it would be a contra asset and then I might have to deduct it from the equation rather than add it?

#4

It’s a liability, not a contra asset.

I believe that it wouldn’t be considered in non-operating assets.

But it’s a good question nonetheless.

#5

Gotcha. Thank you!

#6

My pleasure.