BP PLC, London, expects to contribute about $760 million to its worldwide pension plans this year, including about $275 million to its U.S. pension plans, said Rachael MacLean, vice president-investor relations, North America. Company officials expect pension contributions will total about the same this year as in 2005, Byron Grote, CFO, said today in statement.
The company reported an actuarial gain on its pension and other post-retirement plans of $975 million for the 12 months ended Dec. 31, up from $107 million the previous year, according to an SEC filing today. The filing didn't break out pension gain alone.
BP's worldwide pension funds total $31.5 billion, including its $7.1 billion U.S. fund.