3M Co., St. Paul, Minn., plans to contribute between $300 million and $500 million in cash to its global defined benefit plans in 2017, the company announced in its 10-K filing Thursday.
In 2016, 3M contributed $380 million to its global plans. Breakouts of the 2016 contributions and the planned 2017 contributions were not immediately available.
As of Dec. 31, 3M’s U.S. DB qualified and non-qualified assets totaled $14.1 billion and projected benefited obligations, $16.2 billion, for a funding ratio of 87%. As of the same date, non-U.S. DB assets totaled $14 billion and projected benefit obligations, $15.9 billion, for a funding ratio of 88.1%.
A 3M spokeswoman could not immediately be reached for additional information.
