Kellogg Co., Battle Creek, Mich., distributed $174 million in lump sums to former employees in its U.S. pension plans in December.
The company made the offer in September to former employees vested in the U.S. plans who had yet to retire, according to the food-maker's latest 10-K filing with the SEC on Feb. 24.
How many former employees received and accepted the offer could not be immediately learned.
As of Dec. 31, Kellogg's global pension plan assets totaled $5.17 billion, while projected benefit obligations totaled $5.654 billion, for a funding ratio of 91.4%.
Kellogg officials could not be immediately reached to provide further information.