DELPHI 2013 Annual Report Download - page 110
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88
Pension Funding
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Projected Pension Benefit Payments
U.S. Plans Non-U.S. Plans
(in millions)
2014.................................................................................................................. $ 12 $ 78
2015.................................................................................................................. 7 72
2016.................................................................................................................. 9 78
2017.................................................................................................................. 8 83
2018.................................................................................................................. 7 90
2019 – 2023...................................................................................................... 27 555
Delphi anticipates making pension contributions of approximately $90 million in 2014.
Delphi sponsors defined contribution plans for certain hourly and salaried employees. Expense related to the
contributions for these plans was $49 million, $48 million, and $46 million for the years ended December 31, 2013, 2012 and
2011, respectively.
Plan Assets
The pension plans sponsored by Delphi invest in a diversified portfolio consisting of an array of asset classes that
attempts to maximize returns while minimizing volatility. These asset classes include developed market equities, emerging
market equities, private equity, global high quality and high yield fixed income, real estate, and absolute return strategies.
The fair values of Delphi’s pension plan assets weighted-average asset allocations at December 31, 2013 and 2012, by
asset category, are as follows:
Fair Value Measurements at December 31, 2013
Asset Category Total
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
(in millions)
Cash......................................................................... $ 64 $ 64 $ — $ —
Time deposits.......................................................... 7 — 7 —
Equity mutual funds................................................ 412 — 412 —
Bond mutual funds.................................................. 435 — 435 —
Real estate trust funds ............................................. 45 — — 45
Hedge Funds ........................................................... 90 — — 90
Insurance contracts.................................................. 4 — — 4
Debt securities......................................................... 85 85 — —
Equity securities...................................................... 57 57 — —
Total...................................................................... $ 1,199 $ 206 $ 854 $ 139