Northrop Grumman Corp., Los Angeles, plans to contribute about $205 million to its $17.7 billion pension plans in 2005, according to a recent SEC filing. In the quarter ended March 31, the company contributed $28 million to the plans. It contributed $623 million in 2004.
The anticipated 2005 contributions relate to increased pension expense of $103 million in the first quarter, up from $91 million for the same period in 2004, the filing noted. The expected return on plan assets is a loss of $367 million in 2005, compared with a loss of $344 million in 2004.
Separately, Georgia-Pacific Corp., Atlanta, contributed $20 million to its $3.7 billion pension plans in the first quarter, according to its quarterly report. Company officials plan to contribute an additional $173 million for the remainder of 2005. Georgia-Pacific contributed $207 million in 2004, according to its annual report.
Georgia-Pacific posted a pension expense of $40 million in the first quarter, and officials anticipate an additional $121 million in pension expense during the remainder of the year, the quarterly report said. The company reported 2004 pension expense of $177 million.
