ConocoPhillips Co., Houston, expects to contribute about $210 million to its defined benefit plans in 2018, according to the company's 10-K filed on Tuesday.
The contribution consists of about $80 million to its U.S. non-qualified pension and postretirement benefit plans and $130 million to its non-U.S. qualified and non-qualified pension and postretirement benefit plans.
In 2017, the company contributed $755 million to its U.S. plans and $114 million to its non-U.S. plans.
ConocoPhillips had $2.54 billion in U.S. plan assets as of Dec. 31 and pension obligations of $3.24 billion, for a funding ratio of 78.4%, up from the 60.9% a year earlier. Meanwhile, the company had $3.65 billion in non-U.S. plan assets as of Dec. 31, with pension obligations of $3.85 billion for a funding ratio of 94.8%, up from 89.1% at the end of 2016.
The company's discount rate used to determine benefit obligations for U.S. plans as of Dec. 31 was 3.55%, vs. 3.95% as of Dec. 31, 2016. Its discount rate used for non-U.S. plans, meanwhile, was 2.8% as of Dec. 31, compared to 3% as of the same period the year prior.
The target allocations for plan assets are 50% debt securities, 43% equity securities, 6% real estate and 1% other, the 10-K said.