Xerox Corp., Norwalk, Conn., expects to contribute $135 million to its global pension plans in 2020, according to a 10-K filing with the Securities and Exchange Commission.
The amount includes $25 million to its U.S. plans and $110 million to its non-U.S. plans.
The firm contributed $141 million to its plans in 2019, including $26 million to its U.S. plans and $115 million to its non-U.S. plans, according to the Feb. 28 regulatory filing.
Xerox had $2.5 billion in U.S. plan assets as of Dec. 31 and a benefit obligation of $3.6 billion, giving it a funded status of 69.4%, down from 75% the year before. Meanwhile, its non-U.S. plans had $6.4 billion during the same period, with $6.5 billion in benefit obligations, giving it a funded status of 98.5%, down from 95% a year earlier.
Xerox had a discount rate of 3.1% for its U.S. plans in 2019, down from 4.2% in 2018, and a discount rate of 1.8% for its non-U.S. plans in 2019, down from 2.6% the year earlier.
The target asset allocations for Xerox's U.S. DB plans in 2016 were 61% fixed income, 23% equities, 8% private equity, 6% real estate and 2% other investments,. The non-U.S. DB plans' target allocation during the same period was 46% fixed income, 24% private equity, 14% equities, 11% other and 5% real estate.
