As a result of the award, Starrett said it expected to recognize a non-cash extraordinary charge of about $10 million after taxes.

Its loss resulted from two non-cash special charges totaling $3.61 billion taken in previous quarters and announced in November.

Mobil's non-cash charge will amount to about $1.23 a share.

The business has the cash to make the distribution because depreciation is a non-cash charge.

Results for 1988 and 1987 included non-cash charges for interest expense of $53,416,000 and $48,949,000, respectively.

It also included a non-cash charge of $43 million for depreciation and amortization, interest and deferred taxes.

Last year's loss included a non-cash charge of $31.2 million.

General Electric said it would take a $1.8 billion non-cash, after-tax charge against earnings to comply with a new accounting rule covering retiree health benefits.

These losses were after-tax, non-operating, non-cash charges related to tree loss incurred as a result of December 1989 freeze.

Last month, General Motors announced that it would take a similar but much larger non-cash charge of between $16 billion and $24 billion.