Mondelez International Inc. expects to contribute a total of $246 million to its global pension plans in 2020.
Mondelez International Inc., Deerfield, Ill., expects to contribute $230 million to its non-U.S. pension plans in 2020.
The company also expects to contribute $16 million to its U.S. pension plans in 2020, the company disclosed in a 10-K filing with the SEC on Friday.
In 2019, Mondelez contributed $261 million to the non-U.S. plans and $8 million to the U.S. plans.
As of Dec. 31, non-U.S. pension plan assets totaled $9.8 billion, while projected benefit obligations totaled $10.5 billion, for a funding ratio of 93.3%, up from 88.4% the year before.
The discount rate for the non-U.S. plans as of that date was 1.74%, down from 2.45% a year earlier.
Also as of Dec. 31, U.S. pension plan assets totaled $1.739 billion, while PBO totaled $1.748 billion, for a funding ratio of 99.5%, down from 99.9% a year earlier.
The U.S. plans' discount rate as of that date was 3.44%, down from 4.4% a year earlier.
The non-U.S. plans' actual allocation as of Dec. 31 was 54% fixed income, 26% equities, 12% buy-in annuity policies, 6% real estate, and 1% each cash and hedge funds.
As of that same date, the U.S. plans' actual allocation was 85% fixed income and 15% equities.
