Northrop Grumman Corp., Falls Church, Va., contributed $851 million to its defined benefit plans in 2020.
The company also plans to contribute $98 million to the plans in 2021, it disclosed Thursday in a 10-K filing with the SEC.
Of the total contributed in 2020, Northrop Grumman said $750 million was in the form of a discretionary contribution. The company originally said in its previous 10-K filing it planned to contribute $96 million for the year.
Northrop Grumman did not provide information on how the contributions are split between U.S. and non-U.S. plans.
As of Dec. 31, global defined benefit plan assets totaled $34.45 billion, while projected benefit obligations totaled $40.18 billion, for a funding ratio of 85.7%, up from 83% a year earlier.
The discount rate as of Dec. 31 was 2.68%, down from 3.39% a year earlier.
As of Dec. 31, the actual allocation of the global defined benefit plans was: 34.1% fixed income; 29.2% international equities; 12.6% U.S. equities; 7.3% private equity; 6.9% opportunistic investments; 6% real estate; 3.7% cash and cash equivalents; and 0.2% hedge funds.
