Kraft Heinz Co., Pittsburgh, estimates it will contribute approximately $150 million to its U.S. pension plans and approximately $35 million to its non-U.S. plans in 2017, said the company's 10-K filing on Thursday.
Kraft Heinz contributed $311 million to its U.S. pension plans in 2016, which included contributions related to the settlement of a non-qualified pension plan that was terminated effective Dec. 31, 2015. The company contributed $33 million to its non-U.S. pension plans in 2016.
The company's U.S. plan assets and obligations totaled $4.79 billion and $5.16 billion, respectively, as of Dec. 31, for a funding ratio of 92.9%, up from 88.2% a year earlier.
The non-U.S. plans' assets and liabilities totaled $3.63 billion and $3.1 billion, respectively, as of the same date. The funding ratio was 117%, down from 118.5% the year before.
Kraft Heinz allocated 67% to fixed income as of Dec. 31, 30% to equities, and 3% to cash and cash equivalents for its U.S. plans. For its non-U.S. plans, the company allocated 49% to fixed income, 31% to equities, 8% to cash and cash equivalents, 7% to real estate and 5% to certain insurance contracts.
The discount rate for its U.S. plans in 2016 was 4.2%, down from 4.3% a year earlier. The discount rate for its non-U.S. plans was 2.9%, down from 3.8%.