DuPont 2011 Annual Report Download - page 82

Table of Contents E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)
The company's pension plans hold Level 3 assets which are primarily ownership interests in investment partnerships and trusts that own private market
securities and real estate. Fair value is generally based on the company's units of ownership and net asset value of the investment entity or the company's share
of the investment entity's total equity. The table below presents a rollforward of activity for these assets for the years ended December 31, 2011 and 2010:
Level 3 Assets
Total U.S. Equity
Securities Debt- Corporate
Issued
Debt-
Asset-
Backed
Hedge Funds Private
Market
Securities
Real
Estate
Beginning balance at December 31, 2009 $ 2,928 $ 4 $ 51 $ 8 $ — $ 1,980 $ 885
Realized gain (loss) (9) — (53) 5 — 39 —
Change in unrealized gain (loss) 206 3 48 (5) — 229 (69)
Purchases, sales and settlements 884 13 (11) (4) — 683 203
Transfers (out) in of Level 3 (89) — (1) — — — (88)
Ending balance at December 31, 2010 $ 3,920 $ 20 $ 34 $ 4 $ — $ 2,931 $ 931
Realized gain (loss) 11 — (10) — — 21 —
Change in unrealized gain (loss) 201 (3) 9 — (9) 124 80
Purchases, sales and settlements 375 10 5 — 401 (117) 76
Transfers (out) in of Level 3 (7) 1 (8) — — — —
Ending balance at December 31, 2011 $ 4,500 $ 28 $ 30 $ 4 $ 392 $ 2,959 $ 1,087
Cash Flow
Contributions
No contributions were required or made to the principal U.S. pension plan trust fund in 2011 and 2009. The company made a contribution of $500 to its
principal U.S. pension plan in 2010 and made another $500 to this plan in January 2012. No additional contributions are expected to be made to the principal
U.S. pension plan in 2012. The company expects to contribute approximately $345 in 2012 to its pension plans other than the principal U.S. pension plan and
also expects to make cash payments of approximately $315 in 2012 under its other long-term employee benefit plans.
Estimated Future Benefit Payments
The following benefit payments, which reflect future service, as appropriate, are expected to be paid:
Pension
Benefits Other Benefits
2012 $ 1,599 $ 315
2013 1,575 320
2014 1,586 321
2015 1,609 322
2016 1,617 325
Years 2017-2021 8,443 1,640
Defined Contribution Plan
The company sponsors several defined contribution plans, which cover substantially all U.S. employees. The most significant is the U.S. parent company's
Retirement Savings Plan (the Plan), which reflects the 2009 merger of the Retirement Savings Plan and the Savings and Investment Plan. This Plan includes a
non-leveraged Employee Stock Ownership Plan (ESOP). Employees are not required to participate in the ESOP and those who do are free to diversify out of
the ESOP. The purpose of the Plan is to provide retirement savings benefits for employees and to provide employees an opportunity to become stockholders
of the company. The Plan is a tax qualified contributory profit sharing plan, with cash or deferred arrangement and any eligible employee of the company may
participate. The company contributes 100 percent of the first 6 percent of the employee's contribution election and also contributes 3 percent of each eligible
employee's eligible compensation regardless of the employee's contribution.
The company's contributions to the U.S. parent company's defined contribution plans were $210, $195 and $191 for the years ended December 31, 2011, 2010
and 2009, respectively. The company's matching contributions vest immediately upon contribution. The 3 percent nonmatching company contribution vests
for employees with at least three years of service. In addition, the company made contributions to other defined contribution plans of $84, $59 and $54 for the
years ended December 31, 2011, 2010 and
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