Valero contributed $85 million to its pension plans in the third quarter, more than double the expected contribution for 2019.
Valero Energy Corp., San Antonio, made a discretionary contribution of $85 million to its pension plans during the third quarter.
That contribution brings the total to $120 million for the nine months ended Sept. 30, the energy company disclosed Thursday in a 10-Q filing with the SEC.
The total well exceeds the expected contribution for 2019 of $35 million the company disclosed in its most recent 10-K filing in February.
In 2018, Valero Energy Corp. contributed $156 million to its pension plans.
As of Dec. 31, pension plan assets totaled $2.236 billion, while projected benefit obligations totaled $2.639 billion, for a funding ratio of 84.7%, according to the 10-K filing.
Company spokeswoman Lillian Riojas was not available to immediately provide further information.
