From the “misplaced corporate priorities” files, energy companies — led primarily by oil titans Exxon Mobil, Chevron and ConocoPhillips — posted the lowest levels of pension plan funding across the 10 industries studied in a Citi analysis of S&P 500 companies.
Exxon Mobil, whose quarterly profits steadily break the company’s own earnings records, had the highest pension deficit, with $27.8 billion in assets to cover $34.5 billion in liabilities, a $6.7 billion deficit.