Bristol-Myers Squibb contributed $423 million to its $5.02 billion pension plans in 2005 and expects to contribute an as-yet undetermined amount this year, according to the company's annual report filed today with the SEC.
"Although no minimum contributions will be required, the company plans to make cash contributions to the U.S. pension plans in 2006," according to the report, which added that officials expect to contribute between $70 million and $90 million to its international pension plans, which account for about 20% of overall plan assets.
The 2005 asset allocation for U.S. plans was 68% equities, 25% fixed income and 7% private equity and other investments. Bristol-Myers Squibb stock accounted for less than 1% of assets, according to the report.
The company lowered its expected rate of return for U.S. plan assets to 8.75% for 2005 and 2006, from 9% in 2004.