Xerox Corp., Stamford, Conn., expects to contribute $32 million to its pension plans during the remainder of this year, according to the company's third-quarter report. Xerox contributed $363 million to the plans in the first nine months of 2005, including $50 million to the company's U.K. pension plan in September "for the purpose of improving the funded status of the plan," according to the filing, which did not specify the plan's funded status. The quarterly report did not specify whether Xerox made any contributions to its U.S. plans in the third quarter.
Christa Carone, a Xerox spokeswoman, said the company does not disclose information on individual pension plans beyond what appears in the quarterly report.
Xerox officials estimated in the company's annual report earlier this year that 2005 pension contributions would total $114 million. The company contributed $230 million to U.S. plans in April to make those plans 100% funded "on a current liability basis under ERISA funding rules," accounting for the increase in contributions this year, according to the third-quarter report.
Xerox had about $8.1 billion in total pension assets and was underfunded by a combined $1.9 billion as of Dec. 31, according to the annual report.