International Business Machines Corp., Armonk, N.Y., plans to contribute $300 million to its non-U.S. defined benefit plans in 2020.
The amount represents minimum required contributions, the largest of which will go to plans in Spain and Japan, the company disclosed Tuesday in its 10-K filing with the SEC.
IBM does not expect to make any contributions to the U.S. plans this year.
In 2019, IBM contributed $243 million to its non-U.S. plans and did not make any contributions to the U.S. plans.
As of Dec. 31, U.S. plan assets totaled $51.784 billion, while projected benefit obligations totaled $50.232 billion, for a funding ratio of 103.1% up from 100.8% a year earlier.