Raytheon Co., Waltham, Mass., expects to make required contributions of $875 million to its pension funds in 2014, according to its 10-K, filed Tuesday.
The company contributed $1.1 billion to its defined benefit pension plans in 2013 — $778 million of which was required, the remaining $300 million was discretionary.
Raytheon had $19.7 billion in assets as of Dec. 31 for its global defined benefit pension funds; $18.8 billion for its domestic qualified plans and the rest for its foreign plans.
The funding ratio for its combined DB plans in 2013 was 85.5%, up from 70.8% a year earlier. The discount rate used to measure benefit obligations was 5.06%, up from 4.15% at the end of 2012.
The asset allocation as of Dec. 31 was 35.3% U.S. equities, 16.7% international equities, 24.5% fixed income, 7.7% hedge funds, 7.2% cash and other, 3.2% private equity, 2.8% real estate and 2.6% emerging markets equities.