Kraft Heinz Co., Pittsburgh, plans to contribute approximately $345 million total to its global defined benefit plans in 2016, the company announced in its recently filed 10-K with the Securities and Exchange Commission.
Of the $345 million, approximately $315 million will be contributed to the company's U.S. plans and $30 million to its non-U.S. plans.
The $315 million U.S. DB contribution includes a $160 million contribution in the first quarter of 2016 related to the Dec. 31 termination of the non-qualified U.S. plan.
In 2015, the company contributed $227 million and $59 million to its U.S. and non-U.S. plans, respectively, for a total of $286 million.
As of Jan. 3, U.S. pension fund assets and liabilities totaled $5.28 billion and $5.99 billion, respectively, for a funding ratio of 88.1%.
As of the same date, non-U.S. pension fund asset and liabilities totaled $3.43 billion and $2.89 billion, respectively, for a funding ratio of 118.7%.
The U.S. pension funds had an asset allocation of 62% fixed-income securities, 27% equity securities, 5% each real estate and cash/cash equivalents, and 1% in certain annuity contracts, as of Jan. 3.
The non-U.S. pension funds had an asset allocation of 48% fixed-income securities, 31% equity securities, 9% real estate, 7% cash and cash equivalents, and 5% in certain annuity contracts.
A spokesman declined to comment further.
