Daimler AG, Stuttgart, Germany, contributed €3 billion ($3.7 billion) to its German pension plan in the fourth quarter of 2017 to meet pension obligations, the automotive corporation said in a financial update Thursday.
The net liquidity of the industrial business decreased to €16.6 billion at the end of 2017 from €19.7 billion a year earlier due to the extraordinary contribution to the €23.4 billion defined benefit fund, according to the update.
The pension plan has €31.2 billion in pension obligations.
"We have continued our trend of profitable growth and once again set new records for unit sales, revenue and earnings. In addition, we have further increased the funding of our pension plans with a contribution of €3 billion," said Bodo Uebber, member of the board at Daimler, in a news release accompanying the update.
A spokesman declined to provide additional details.
