DuPont 2014 Annual Report Download - page 91

E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)
F-38
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, 2014 and 2013:
Level 3 Assets
Total
U.S.
Equity
Securities
Non-U.S.
Equity
Securities
Debt-
Corporate
Issued
Debt-
Asset-
Backed Hedge Funds
Private
Market
Securities Real Estate
Beginning balance at December 31, 2012 $ 4,212 $ 18 $ — $ 27 $ 2 $ 387 $ 2,624 $ 1,154
Realized gain 42 — — — — 3 39 —
Change in unrealized gain (loss) 185 5 1 (8) — 22 88 77
Purchases, sales and settlements, net (278) 6 1 (1) — 22 (181) (125)
Transfers in (out) of Level 3 4 (2) 1 1 2 — 2 —
Ending balance at December 31, 2013 $ 4,165 $ 27 $ 3 $ 19 $ 4 $ 434 $ 2,572 $ 1,106
Realized gain (loss) 101 (5) — 11 — 12 83 —
Change in unrealized (loss) gain (68) (14) (2) (2) (1) 8 (71) 14
Purchases, sales and settlements, net (425) 24 3 (10) — (9) (299) (134)
Transfers (out) in of Level 3 (8) (3) — (3) (2) — — —
Ending balance at December 31, 2014 $ 3,765 $ 29 $ 4 $ 15 $ 1 $ 445 $ 2,285 $ 986
Cash Flow
Contributions
The company made a contribution of $500 to its principal U.S. pension plan in 2012. No contributions to its principal U.S. pension
plan were made in 2013 or 2014. In 2015, contributions to the principal U.S. pension plan are expected to be less than $50. The
company contributed $190, $121 and $233 to its pension plans other than the principal U.S. pension plan, its remaining plans with
no plan assets and its other long-term employee benefit plans, respectively, in 2014. The company contributed $197, $116 and
$207 to its pension plans other than the principal U.S. pension plan, its remaining plans with no plan assets and its other long-
term employee benefit plans, respectively, in 2013. In 2015, the company expects to contribute about the same as 2014 to its
pension plans other than the principal U.S. pension plan, its remaining plans with no plan assets and 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
2015 $ 1,636 $ 224
2016 1,608 215
2017 1,622 207
2018 1,633 201
2019 1,656 194
Years 2020-2024 8,455 880
Defined Contribution Plan
The company sponsors several defined contribution plans, which cover substantially all U.S. employees. The most significant is
the U.S. Retirement Savings Plan (the 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. Currently, 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.