Tyco International Ltd., Princeton, N.J., made $173 million in voluntary contributions to its worldwide pension plans during the quarter ended June 30, according to a Tyco news release. The company didn't disclose how much of the contribution went to each of the two plans. The U.S. plan had assets of $1.5 billion as of last Sept. 30, and the non-U.S. plan had assets of $1.26 billion as of that date. At the time, the plans were underfunded by a combined $1.9 billion.
The company announced in May that it expects to contribute more than $500 million to the plans over the subsequent six-month period. John Roselli, investor relations, said the company stands by that outlook and expects to make the remaining contributions in the current quarter.
Tyco contributed $248.8 million to its U.S. plan and $92.6 million to its non-U.S. plan in 2003.