Caterpillar Inc., Deerfield, Ill., expects to contribute $145 million to its global defined benefit plans in 2020.
By region, the company expects to contribute $40 million to its U.S. DB plans and $105 million to its non-U.S. DB plans, according to a 10-K filing Wednesday with the SEC.
The company contributed $1.5 billion to its U.S. plans and $143 million to its non-U.S. plans in 2019.
As of Dec. 31, U.S. pension plan assets totaled $15.994 billion, while projected benefit obligations totaled $17.773 billion, for a funding ratio of 90%, up from 80% a year earlier.
The discount rate for the U.S. plans was 3.2% as of Dec. 31, down from 4.2% a year earlier.