Lockheed Martin Corp., Bethesda, Md., contributed $450 million to its pension trust at the end of the second quarter to pre-fund the majority of the company's anticipated 2006 pension contributions, said Thomas C. Greer, company spokesman. Company officials "decided to put the cash to work in the market earlier where the potential returns are higher than short-term cash returns," Mr. Greer said. He noted that "accelerating the timing of the contributions" allows the company "more flexibility in managing cash in the following year." Lockheed Martin had about $22.1 billion in pension assets and about $27 billion in pension liabilities as of Dec. 31, according to the company's annual report.
Separately, Xerox Corp., Stamford, Conn., contributed $230 million to its primary U.S. pension plan, according to its second-quarter earnings report. Michael Goodwin, spokesman, did not return calls requesting further information. Xerox has pension assets of $7.2 billion, according to the Money Market Directory.