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Contributions

Schlumberger readies $125 million pension contribution for this year

Schlumberger Ltd., Houston, plans to contribute about $125 million total to its postretirement benefit plans in 2018, subject to market and business conditions, the company's recently filed 10-K shows.

Last year, the company contributed $5 million to its U.S. plans and $88 million to its international plans. It did not break out how the 2018 expected contribution will be split between U.S. and international.

As of Dec. 31, the company's U.S. defined benefit assets and projected benefit obligations totaled $4.06 billion and $4.6 billion, respectively, for a funded status of 88.3%.

Also as of Dec. 31, the oilfield services company's international DB assets and projected benefit obligations totaled $8.51 billion and $8.75 billion, respectively, for a funded status of 97.3%.

The discount rates used to measure pension obligations for the U.S. and international plans were 3.7% and 3.55%, respectively, down from 4.2% and 4.13% in 2016.

At the end of 2017, the U.S. plans had an asset allocation of 51% equities, 38% debt, 8% alternatives and 3% cash.

The international plans had an asset allocation of 64% equities, 23% debt, 9% alternatives and 4% cash.

A spokesman could not immediately be reached for additional information.