Cummins Inc., Columbus, Ind., will contribute $100 million to its global defined benefit plans this year, according to the company's 10-K filed with the Securities and Exchange Commission on Wednesday.
The company had $3.357 billion in U.S. pension assets, and those plans were 115% funded as of Dec. 31, according to the filing. Its U.K. pension assets totaled $2.01 billion and those plans were 109% funded as of Dec. 31. In 2018, the U.S. plans were again 115% funded, while the U.K. plans were also 115% funded.
Pension contributions for 2019 totaled $105 million ($77 million to its U.S. plans and $28 million to its U.K. plans) and $21 million for 2018 (U.K. only).