Here Are 14 Companies Getting Crushed By Pension Costs

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Low interest rates on bonds and weak returns on stocks have made managing pension funds a real pain for many companies who offer defined-benefit plans.Deutsche Bank’s David Bianco compiled a list of 100 S&P 500 companies that are the most underfunded (as measured by pension deficits to market capitalisation).

We pulled the 14 companies where the underfunding represents more than 25 per cent of market cap.

Goodyear Tire & Rubber

Ticker: GT

Funding Status Percentage of Market Cap: -107.1%

Total Amount Under Funded: -$3,097 million

Source: Deutsche Bank

United States Steel

Ticker: X

Funding Status Percentage of Market Cap: -73.3%

Total Amount Under Funded: -$2,417 million

Source: Deutsche Bank

R.R. Donnelley & Sons

Ticker: RRD

Funding Stats Percentage of Market Cap: -46.8%

Total Amount Under Funded: -$1,074 million

Source: Deutsche Bank

Lockheed Martin

Ticker: LMT

Funding Stats Percentage of Market Cap: -45.1%

Total Amount Under Funded: -$13,324 million

Source: Deutsche Bank

Ford Motor

Ticker: F

Funding Stats Percentage of Market Cap: -42.9%

Total Amount Under Funded: -$15,367 million

Source: Deutsche Bank

Sears Holdings

Ticker: SHLD

Funding Stats Percentage of Market Cap: -39.0%

Total Amount Under Funded: -$2,257 million

Source: Deutsche Bank

Alcoa

Ticker: AA

Funding Stats Percentage of Market Cap: -34.1%

Total Amount Under Funded: -$3,215 million

Source: Deutsche Bank

Raytheon

Ticker: RTN

Funding Stats Percentage of Market Cap: -32.5%

Total Amount Under Funded: -$6,061 million

Source: Deutsche Bank

Boeing

Ticker: BA

Funding Stats Percentage of Market Cap: -29.8%

Total Amount Under Funded: -$16,600 million

Source: Deutsche Bank

Whirlpool

Ticker: WHR

Funding Stats Percentage of Market Cap: -27.0%

Total Amount Under Funded: -$1,502 million

Source: Deutsche Bank

Gannett

Ticker: GCI

Funding Stats Percentage of Market Cap: -26.7%

Total Amount Under Funded: -$942 million

Source: Deutsche Bank

Computer Sciences Corp

Ticker: CSC

Funding Stats Percentage of Market Cap: -26.7%

Total Amount Under Funded: -$1,302 million

Source: Deutsche Bank

Ryder System

Ticker: R

Funding Stats Percentage of Market Cap: -26.2%

Total Amount Under Funded: -$549 million

Source: Deutsche Bank

Owens-Illinois

Ticker: OI

Funding Stats Percentage of Market Cap: -25.2%

Total Amount Under Funded: -$764 million

Source: Deutsche Bank

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