Several companies made recent contributions to their pension plans.
Chevron Corp., San Ramon, Calif., contributed $183 million to its pension plans in the first half of the year, split evenly between its U.S. plans and overseas plans, according to the company's second quarter 10-Q filing. The company expects to contribute a total of $500 million in calendar year 2006, with $300 million going to the domestic plans and $200 million to foreign plans, the filing said. Those figures are in line with previous estimates.
Eastman Kodak Co., Rochester, N.Y., contributed $100 million to its worldwide pension plans in the first half of 2006, including $39 million in the second quarter, according to a 10-Q filing posted on the company's website. Company officials plan to contribute another $84 million in 2006. Kodak's combined U.S. pension plans had about $6.6 billion in assets as of Dec. 31, with a surplus of $390 million. Non-U.S. plan assets totaled $2.9 billion for the same period, with $850 million in liabilities.
Motorola Inc., Schaumburg, Ill., contributed $66 million to its U.S. pension plans after July 1 in addition to a $71 million contribution in the second quarter, according to a filing with the SEC. The firm also contributed $9 million to its non-U.S. pension plan in the second quarter, for a total of $19 million in the six months ended July 1. Company officials plan to contribute a total of $275 million to its U.S. plans and $44 million to its non-U.S. plans for the year.
The company had roughly $3.7 billion in pension assets as of Dec. 31 and was underfunded by about $1.4 billion, according to Pensions & Investments data.