Mondelez International Inc., Deerfield, Ill., plans to contribute an additional $117 million to its defined benefit plans in 2016, bringing total contributions for the year to roughly $549 million, the company’s recently filed 10-Q shows.
During the remainder of 2016, the company expects to contribute approximately $10 million to its U.S. pension funds and $107 million to its non-U.S. pension funds. Earlier this year, Mondelez contributed $160 million and $272 million to its U.S. and non-U.S. DB plans, respectively.
In 2015, the company contributed $543 million total to its DB plans — $225 million to its U.S. plans and $318 million to its non-U.S. plans, according to its most recent 10-K.
As of Dec. 31, Mondelez’s U.S. pension funds had $1.25 billion in assets and $1.57 billion in liabilities for a funding ratio of 79.62%; the company’s non-U.S. plans had $7.72 billion in assets and $9.55 billion in liabilities for a funding ratio of 80.84%.
As of the same date, the U.S. pension funds had an asset allocation of 65% fixed income, 32% equity and 3% real estate. The non-U.S. plans had an asset allocation of 50% fixed income, 32% equity, 7% hedge funds, 6% real estate, 3% private equity, and 1% each cash and other.