Northrop Grumman Corp., Los Angeles, expects to contribute about $562 million to its $22.78 billion defined benefit plans this year, down from the $894 million it contributed in 2010, according to an SEC filing.
By comparison, the company contributed $858 million to the defined benefit plans in 2009.
During 2010, the company contributed $338 million to its $15.9 billion defined contribution plans, up from $341 million in 2009.
In November 2010, the company issued $1.5 billion in unsecured senior debt that is being used for general corporate purposes, including pension plan funding. Issued debt obligations consisted of $500 million of five-year bonds, $700 million of 10-year bonds, and $300 million of 30-year bonds.