U.S. Steel, Harley-Davidson each contribute to pension plans
By Timothy Pollard | January 29, 2013 3:54 pm
U.S. Steel Corp., Pittsburgh, made $181 million in cash contributions to its pension and other post-retirement benefit plans during 2012, the company said its fourth-quarter earnings release.
That amount is a 654% increase from the prior year when U.S. Steel made cash contributions of $24 million.
According to Pensions & Investments data, U.S. Steel had an estimated $7.2 billion of U.S. defined benefit assets as of Sept. 30.
Asset allocation for all defined benefit pension plans as of Dec. 31, 2011, was 54.1% equities, 26.7% fixed income, 11.9% other, 4% private equity and 3.3% real estate, according to the company's latest 10-K filing.
Separately, Harley-Davidson Inc., Milwaukee, made a $175 million voluntary cash contribution to its pension plans this month, John A. Olin, senior vice president and chief financial officer, said Tuesday during the company's fourth-quarter earnings call.
Harley-Davidson contributed $200 million to its pension plans in the first quarter of 2012.
Harley-Davidson had $1.3 billion in worldwide defined benefit pension assets as of Dec. 31, 2011, according to its 2011 10-K. Asset allocation was 67.5% equities, 28.6% fixed income and 3.9% cash.