Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 59

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 59
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2023, the most recent plan year available. We do not expect our contributions to the IAM National Pension Fund and the Western Conference of Teamsters Pension Plan for the year ended December 31, 2025 to be significantly different from our contributions for the year ended December 31, 2024. DEFINED CONTRIBUTION PLANSWe also sponsor defined contribution plans covering certain employees. Our contributions to these plans are based upon employee contributions and operating profitability. Contributions charged to expense for these plans for the years ended December 31, 2024, 2023 and 2022 were $14.9 million, $16.4 million and $15.4 million, respectively.

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SILGAN HOLDINGS INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

PLAN ASSETSINVESTMENT STRATEGYIn 2023, we changed our investment allocations to a liability driven investment strategy that more closely matches plan assets with plan liabilities primarily using long duration fixed income securities. As of December 31, 2024, approximately 83 percent of our plan assets were held in a designated liability-hedging oriented portfolio focused on holding fixed income securities (generally investment grade), and approximately 17 percent of our plan assets were held in a designated growth oriented portfolio focused on holding an allocation of mutual funds and exchange traded funds broadly characterized as a 60 percent/40 percent allocation between equity and fixed income securities.We attempt to mitigate investment risk by reviewing our investment portfolio on at least a quarterly basis, with assets re-allocated as required to adhere to our target allocations.The weighted average asset allocation for our pension plans at December 31, 2024 and 2023 and target allocation for 2024 were as follows: TargetAllocationActual Allocation 20242023Fixed income securities89 %87 %88 %Equity securities—US6 %7 %6 %Equity securities—International3 %3 %3 %Cash and cash equivalents2 %3 %3 %100 %100 %100 %FAIR VALUE MEASUREMENTSAs of December 31, 2024 and 2023, (i) our plan assets classified as fixed income securities were primarily invested in individual corporate bonds and notes and in U.S. government issued securities; (ii) our plan assets classified as equity securities were primarily invested in mutual funds and exchange traded funds; and (iii)