Alcoa Inc. contributed stock valued at $600 million to its U.S. defined benefit plans in January and expects a separate cash contribution of $200 million this year, according to an SEC filing.
In another filing, Bristol-Myers Squibb Co. said it contributed $300 million to its U.S. pension plan in January. It also plans to contribute about $30 million more to the U.S. plan and $75 million to $90 million to its international pension plans in 2011.
And Motorola Solutions Inc., Schaumburg, Ill., said in its 10-K that it expected to contribute $240 million to its U.S. pension plans and $40 million to its non-U.S. plans in 2011.
New York-based Alcoa’s 10-K filing Thursday said the newly issued shares were contributed on Jan. 24. According to the 10-K, the company’s U.S. pension assets increased 10.7% in 2010 to $7.2 billion as of Dec. 31, while non-U.S. DB assets increased 11.1% to $2.2 billion.
The funded status of the U.S. defined benefit plans was 74% at year-end 2010 vs. 69.6% a year earlier. The discount rate fell to 5.75% from 6.15% in the same period. Net funded status of the non-U.S. plans (which adjusts for amounts attributed to joint-venture partners) improved to 86.6% from 88.9%.
According to the filing, the discount rate used to calculate non-U.S. plans did not differ materially from the U.S. discount rate.
As of Dec. 31, the total plans’ asset allocation was 51.8% fixed income, 36.3% equities; and 11.9% other investments.
Total pension assets of New York-based Bristol-Myers Squibb increased 13.7% in 2010 to $5.8 billion as of Dec. 31. The funded status of the company’s DB plans was 86% at year-end 2010 vs. 79.9% a year earlier, while the discount rate fell to 5.19% from 5.62%, according to the company’s 10-K, released Friday.
As of Dec. 31, the total plans’ asset allocation was 60.2% equities, 29.6% fixed income; 6.8% venture capital and limited partnerships; 2% cash and other investments, and 1.4% event-driven hedge funds.
The Motorola Solutions 10-K filing Friday said the company contributed $157 million to its U.S. pension plans and $47 million to its non-U.S. pension plans in 2010.
(Effective Jan. 4, Motorola Inc. changed its name to Motorola Solutions Inc. and spun off Motorola Mobility Holdings Inc.)
Motorola Solutions’ U.S. defined benefit assets increased 10.3% in 2010 to $4.3 billion as of Dec. 31, while non-U.S. DB assets rose 6.9% to $1.2 billion.
The funded status of the U.S. DB plans was 70% at year-end 2010, up from 66.7% a year earlier, while the discount rate fell to 5.75% from 6% in the same period. Net funded status of the non-U.S. plan improved to 81.5% from 72.8%. The discount rate used for non-U.S. plans decreased to 5.07% from 5.46% a year earlier.
As of Dec. 31, the U.S. plans’ asset allocation was 65.7% equities, 32.2% fixed income and 2.1% cash and short-term investments. Non-U.S. plan allocation was 59.4% equities; 34.7% fixed income; and 5.9% cash and short-term investments, according to the filing.
