Deere & Co., Moline, Ill., expects to contribute about $100 million to its pension plans in its fiscal year 2022.
The farm machinery and equipment company did not disclose how the contribution for the fiscal year, which ends Oct. 31, will be split between U.S. and non-U.S. plans.
Deere & Co. contributed $101 million to its plans in fiscal year 2021, according to its 10-K filing with the SEC Thursday.
As of Oct. 31, global pension plan assets totaled $17.19 billion, while projected benefit obligations totaled $14.525 billion, for a funding ratio of 118.3%, up from 97% a year earlier.
The discount rate for the plans as of Nov. 1 was 2.7%, up from 2.5% the year before.
As of Oct. 31, the pension plans' actual allocation was 46.8% fixed income, 11.2% domestic equities, 8.8% venture capital, 8.5% international equities, 7.9% private equity, 6.8% cash and short-term investments, 4.3% hedge funds, 3.2% real estate funds, 2.1% other investments and 0.4% real estate investment trusts.
