Johnson & Johnson, New Brunswick, N.J., contributed a total of $870 million to its global pension plans in 2020.
The company contributed $441 million and $429 million to its U.S. and international plans, respectively, according to the company's 10-K filing Monday with the SEC.
Johnson & Johnson originally disclosed in its previous 10-K filing it planned to contribute a combined $103 million to the global pension plans.
For 2021, Johnson & Johnson said it plans to contribute $110 million to the global pension plans, although the amount does not include any discretionary contributions the company may make in the future.
As of Dec. 31, U.S. plan assets totaled $25.554 billion, while projected benefit obligations totaled $25.466 billion, for a funding ratio of 100.3%, up from 97.1% a year earlier.
Also as of Dec. 31, non-U.S. plan assets totaled $12.641 billion, while PBO totaled $14.541 billion, for a funding ratio of 86.9%, down from 89% the year before.
The company did not break out the discount rates or asset allocations by region. The discount rate reported as of Dec. 31 was 2.14%, down from 2.91% a year earlier. The actual allocation of the global pension plans was 66% equities and 34% fixed income.