PepsiCo Inc., Purchase, N.Y., plans to contribute about $150 million to its pension plans in 2016, a recently released 10-K filing with the Securities and Exchange Commission said.
“In 2016, we expect to make pension and retiree medical contributions of approximately $215 million, with approximately $65 million for retiree medical benefits,” the company said in the 10-K filing.
The company did not say how it will divide the contribution between U.S. and non-U.S. plans. In 2015, PepsiCo contributed $66 million to the U.S. plans and $96 million to the non-U.S. plans.
As of Dec. 31, U.S. pension plan assets totaled $11.397 billion and U.S. projected benefit obligations totaled $13.033 billion, for a funding ratio of 87.4%. Non-U.S. pension plan assets totaled $2.823 billion, with liabilities totaling $2.872 billion, for a funding ratio of 98.3%.
As of Dec. 31, the U.S. actual allocation was 39.1% fixed income, 32.4% domestic equities, 19.8% international equities, 6.3% real estate, and the rest in cash and other. The non-U.S. actual allocation was 45.7% international equities, 41.8% fixed income, 7.2% domestic equities, 3.5% real estate, and 1.8% cash and other.
PepsiCo officials could not be reached by press time.