Cablevision 2014 Annual Report Download - page 143

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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except share and per share amounts)
F-54
The fair values of the assets of the Pension Plan at December 31, 2013 by asset class are as follows:
Asset Class Level I Level II Level III Total
Fixed income securities held in a portfolio:
Foreign issued corporate debt .......................................................... $ — $ 26,998 $ — $ 26,998
U.S. corporate debt........................................................................... — 75,068 — 75,068
Government debt.............................................................................. — 11,993 — 11,993
U.S. Treasury securities.................................................................... — 121,895 — 121,895
Cash equivalents (a)............................................................................ 8,444 29,019 — 37,463
Total (b)............................................................................................ $ 8,444 $ 264,973 $ — $ 273,417
(a) A significant portion represents an investment in a short-term investment fund that invests primarily in securities of high
quality and low risk.
(b) Excludes net payables relating to the purchase of securities that were not settled as of December 31, 2013.
Benefit Payments and Contributions for Defined Benefit Plans
The following benefit payments are expected to be paid:
2015............................................................................................................................................................................ $ 41,115
2016............................................................................................................................................................................ 31,440
2017............................................................................................................................................................................ 28,690
2018............................................................................................................................................................................ 28,540
2019............................................................................................................................................................................ 27,820
2020-2024................................................................................................................................................................... 132,360
Of the amounts expected to be paid in 2015, the Company has recorded approximately $6,500 as a current liability in its consolidated
balance sheets at December 31, 2014, since this amount represents the aggregate benefit payment obligation payable in the next
twelve months for the Company's nonqualified Excess Cash Balance Plan and CSC Supplemental Benefit Plan at December 31,
2014.
The Company currently expects to contribute approximately $25,000 to the Pension Plan in 2015.
Defined Contribution Plans
The Company also maintains the Cablevision 401(k) Savings Plan, a contributory qualified defined contribution plan for the benefit
of non-union employees of the Company. Employees can contribute a percentage of eligible annual compensation and the Company
will make a matching cash contribution or discretionary contribution, as defined in the plan. In addition, the Company maintains
an unfunded non-qualified excess savings plan for which the Company provides a matching contribution similar to the Cablevision
401(k) Savings Plan.
Effective January 1, 2014, applicable employees of the Company are eligible for an enhanced employer matching contribution,
as well as a year-end employer discretionary contribution to the Cablevision 401(k) Savings Plan and the Cablevision Excess
Savings Plan.
The cost associated with these plans (including the enhanced employer matching and the discretionary contributions in 2014) was
$65,725, $26,757 and $24,160 for the years ended December 31, 2014, 2013 and 2012, respectively.