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Mondelez to cook up $289 million pension contribution for global plans

Tang, a Mondelez brand

Mondelez International Inc., Deerfield, Ill., anticipates contributing $289 million total to its worldwide pension plans in 2018, the company's 10-K filed Friday shows.

Of the $289 million, $39 million will go to the company's U.S. plans and $250 million to its non-U.S. plans.

Last year, Mondelez contributed $23 million to its U.S. pension plans and $470 million to its non-U.S. plans.

As of Dec. 31, Mondelez's U.S. defined benefit plans had $1.72 billion in total assets and $1.76 in benefit obligations for a funded status of 97.73%, compared to 100.6% at the end of 2016.

As of the same date, non-U.S. DB assets totaled $9.33 billion and benefit obligations, $10.85 billion, for a funded status of 86%, compared to 80.8% a year earlier.

As of Dec. 31, the asset allocation for the U.S. plans was 85% fixed income and 15% equities. The asset allocation for the non-U.S. plans was 60% fixed income, 28% equities, 6% real estate, 4% hedge funds, 1% private equity and 1% cash,

The discount rates used to calculate benefit obligations for the U.S. and non-U.S. plans were 3.68% and 2.2%, respectively, in 2017, compared to 4.19% and 2.31%, respectively, in 2016.

A Mondelez spokesman could not be reached to provide further information.