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GEORGIA-PACIFIC TO ADOPT FAS NO. 106

 GEORGIA-PACIFIC TO ADOPT FAS NO. 106
 ATLANTA, Jan. 8 /PRNewswire/ -- Georgia-Pacific Corp. (NYSE: GP)


today announced that it will adopt Financial Accounting Standard No. 106 effective Jan. 1, 1991.
 This new standard requires the accrual of the cost of providing post-retirement benefits, including medical and life insurance coverage, during the active service period of the employee.
 Adoption of this standard will result in an immediate one-time, after-tax charge of $119 million, which represents the accumulated liability for these costs, less amounts accrued for businesses acquired in prior years. The company will accrue an additional $14 million after taxes against 1991 operations because of the retroactive application of the standard to Jan. 1, 1991. Operations for the first three quarters of 1991 will be restated to reflect the change in accounting. Cash flow will not be affected.
 -0- 1/8/92
 /CONTACT: Sheila Weidman of Georgia-Pacific, 404-521-4732/
 (GP) CO: Georgia-Pacific Corporation ST: Georgia IN: PAP SU:


BR-CF -- AT001 -- 7600 01/08/92 08:35 EST
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Publication:PR Newswire
Date:Jan 8, 1992
Words:164
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