Emerson Electric Co., St. Louis, contributed $167 million to its pension plan in the year ended Sept. 30, down from $308 million a year earlier, according to the company's quarterly report. As of Sept. 30, 2003, Emerson had $1.962 billion in U.S. pension assets and $326 million in non-U.S. pension assets, and $2.264 billion in U.S. pension liabilities and $526 billion in non-U.S. pension liabilities, according to its annual report. Michael Neal, director-pension investments, was unavailable for comment.
Illinois Tool Works Inc., Glenview, Ill., expects to contribute a total of about $135.6 million to its pension plans in 2004, according to the firm's third-quarter report filed today with the SEC. In the company's second-quarter report, officials anticipated contributing $120.1. Today's filing did not specify why officials raised the estimate. The company had contributed about $112.8 million to the plans as of Sept. 30, according to the report. The plans had combined assets of $1.2 billion as of Sept. 30, 2003, and were underfunded by about $246.6 million, according to the company's March 10-K form, the most recent information available. John Brooklier, vice president of investor relations, wasn't available for comment by press time.