ADT 2011 Annual Report Download - page 247

TYCO INTERNATIONAL LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
16. Retirement Plans (Continued)
The following tables set forth a summary of pension plan assets valued using NAV or its equivalent
as of September 30, 2011 and September 24, 2010 ($ in millions):
September 30, 2011
Redemption
Fair Redemption Notice
Investment ($ in millions) Value Frequency Period
U.S. equity securities .................... $160 Daily 1 day
Non-U.S. equity securities ................. 65 Daily, Semi-monthly 1 day, 5 days
Government and government agency securities . 136 Daily 1 day
Corporate debt securities ................. 132 Daily 1 day, 2 days, 3 days
Mortgage and other asset-backed securities .... 30 Daily 1 day, 3 days
$523
September 24, 2010
Redemption
Fair Redemption Notice
Investment ($ in millions) Value Frequency Period
U.S. equity securities .................... $125 Daily 1 day
Non-U.S. equity securities ................. 90 Semi-monthly, Monthly 5 days, 15 days
Government and government agency securities . 110 Daily 1 day
Corporate debt securities ................. 124 Daily 1 day, 2 days
Mortgage and other asset-backed securities .... 34 Daily 1 day
$483
The strategy of the Company’s investment managers with regard to the investments valued using
NAV or its equivalent is to either match or exceed relevant benchmarks associated with the respective
asset category. None of the investments valued using NAV or its equivalent contain any redemption
restrictions or unfunded commitments.
During 2011, the Company contributed $9 million to its U.S. and $69 million to its non-U.S.
pension plans, which represented the Company’s minimum required contributions to its pension plans
for fiscal year 2011. The Company also made voluntary contributions of $15 million to its U.S. plans
during 2011.
The Company’s funding policy is to make contributions in accordance with the laws and customs of
the various countries in which it operates as well as to make discretionary voluntary contributions from
time-to-time. The Company anticipates that it will contribute at least the minimum required to its
pension plans in 2012 of $44 million for the U.S. plans and $60 million for non-U.S. plans.
144 2011 Financials