Energy Transfer 2015 Annual Report Download - page 228

Table of Contents
The fair value of other postretirement plan assets by asset category at the dates indicated is as follows:
Fair Value Measurements at December 31, 2015 Using Fair
Value Hierarchy
Fair Value as of December 31,
2015
Level 1
Level 2
Level 3
Asset category:
Cash and cash equivalents $ 18
$ 18
$ —
$ —
Mutual funds(1) 133
133
—
—
Fixed income securities 102
—
102
—
Total $ 253
$ 151
$ 102
$ —
(1) Primarily comprised of approximately 56% equities, 33% fixed income securities and 11% cash as of December 31, 2015.
Fair Value Measurements at December 31, 2014 Using Fair
Value Hierarchy
Fair Value as of December 31,
2014
Level 1
Level 2
Level 3
Asset category:
Cash and cash equivalents $ 9
$ 9
$ —
$ —
Mutual funds(1) 131
131
—
—
Fixed income securities 125
—
125
—
Total $ 265
$ 140
$ 125
$ —
(1) Primarily comprised of approximately 56% equities, 38% fixed income securities and 6% cash as of December 31, 2014.
The Level 1 plan assets are valued based on active market quotes. The Level 2 plan assets are valued based on the net asset value per share (or its
equivalent) of the investments, which was not determinable through publicly published sources but was calculated consistent with authoritative
accounting guidelines.
Contributions
We expect to contribute $16 million to pension plans and $10 million to other postretirement plans in 2016. The cost of the plans are funded in
accordance with federal regulations, not to exceed the amounts deductible for income tax purposes.
Benefit Payments
Panhandle and Sunoco, Inc.’s estimate of expected benefit payments, which reflect expected future service, as appropriate, in each of the next five years
and in the aggregate for the five years thereafter are shown in the table below:
Pension Benefits
Years
Funded Plans
Unfunded Plans
Other Postretirement Benefits (Gross, Before
Medicare Part D)
2016
$ 20
$ 9
$ 21
2017
—
7
20
2018
—
7
19
2019
—
6
17
2020
—
6
16
2021 – 2025
—
2
58
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