Ford Motor Co., Dearborn, Mich., contributed $1.5 billion to its global defined benefit plans in the fourth quarter of 2013, the company announced in its fourth-quarter earnings release on Tuesday.
Total contributions for the year were $5 billion.
The company also announced it plans to contribute a total of $1.5 billion to the plans in 2014. The lower contribution, most of which is mandatory, reflects the “company's improved funded status,” according to the earnings report.
As of Dec. 31, 2012, Ford's U.S. plans had assets of $42.4 billion, compared to projected benefit obligations of $52.1 billion, for a funding ratio of 81%, according to the company's most recent annual report.
Non-U.S. plans had assets of $21.7 billion and projected benefit obligations of $30.7 billion, for a funding ratio of 70.7%.
Also, the company announced the completion of its voluntary lump-sum program offered in 2012 to about 90,000 U.S. salaried retirees and former employees.