Chevron Corp. estimates it will contribute about $900 million to its global pension plans in 2012, according to its 10-K filed Thursday.
The San Ramon, Calif.-based firm contributed $1.47 billion to its global defined benefit pension plans in 2011, $1.15 billion of which went to its U.S. DB plans.
According to the 10-K, the company's U.S. DB plans had $8.7 billion in assets as of Dec. 31 and a funded status of 71.7%. The international DB plans had $3.6 billion in assets and a funded status of 64.8%.
The discount rate used to calculate U.S. benefit obligations in 2011 was 3.8%, down from 4.8% a year earlier. The rate used for international plans was 5.9%, down from 6.5% in 2010. The company's long-term expected rate of return on plan assets remained unchanged at 7.8%.
As of Dec. 31, the asset allocation for U.S. DB plans was 60.8% equities; 24.9% fixed income; 9.7% real estate; and 4.6% cash and other. The allocation of Chevron's international DB plans was 49.9% equities; 36.5% fixed income; 6.4% cash and other; 4.3% real estate; and 2.9% mixed funds.