Danaher Corp., Washington, plans to contribute about $135 million to its global defined benefit plans in 2020.
By region, the company expects to contribute $95 million to its U.S. pension plans and $40 million to its non-U.S. plans during the year, the company disclosed in its 10-K filing with the SEC on Feb. 21.
In 2019, Danaher contributed $10 million to the U.S. plans and $44 million to the non-U.S. plans.
As of Dec. 31, U.S. DB plan assets totaled $1.866 billion, while projected benefit obligations totaled $2.468 billion, for a funding ratio of 75.6%, down from 76% a year earlier. The discount rate for the U.S. plans as of that date was 3.2%, down from 4.3% the year before.
As of Dec. 31, non-U.S. DB plan assets totaled $1.139 billion, while PBO totaled $1.447 billion, for a funding ratio of 78.7%, up from 78.5% the year before. The discount rate for the non-U.S. plans as of that date was 1.4%, down from 2.1% a year earlier.
Specific asset allocation information for the plans was not provided. The 10-K filing said the target for the U.S. plan's public equity portfolio is 60% to 70% of its assets, with the remainder in fixed income, real estate, absolute- and real-return funds and private equity funds. Regarding the non-U.S. plans, the filing said those assets are invested in equity, fixed income and insurance contracts, all determined by each plan's administrator.