Northrop Grumman Corp., Los Angeles, made a $500 million discretionary contribution to the company's pension plans in the second quarter, according to an earnings release issued Wednesday.
In an earlier SEC filing, the company had said it expects to contribute about $562 million to its defined benefit plans this year. The company made no contributions during the first quarter.
According to the company's 2010 10-K, filed on Feb. 9, Northrop Grumman's U.S. defined benefit plans had assets of $23.3 billion of assets and $25.3 billion in liabilities — a funding ratio of 92.1%. As of Dec. 31, the asset allocation of Northrop's pension plans was 36.7% fixed income; 35.6% equities; 8.9% private equity; 7.1% hedge funds; 6.5% real estate; and 5.2% cash and other.
