Hertz 2012 Annual Report Download - page 155

HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
and relate to common collective trusts and other pooled investment vehicles consisting of the following
asset categories (in millions of dollars):
December 31,
Asset Category 2012 2011
Short Term Investments .......................................... $ 12.9 $ 11.6
U.K. Equities .................................................. 66.1 57.6
Overseas Equities .............................................. 67.1 60.5
U.K. Conventional Gilts ........................................... 6.5 6.6
Corporate Bonds ............................................... 5.3 5.0
Global Treasury Bonds ........................................... 9.3 6.5
Index-Linked Gilts-Stocks ......................................... 1.8 1.4
Total fair value of pension plan assets .............................. $169.0 $149.2
Contributions
Our policy for funded plans is to contribute annually, at a minimum, amounts required by applicable
laws, regulations and union agreements. From time to time we make contributions beyond those legally
required. In 2012, we made discretionary cash contributions to our U.S. qualified pension plan of
$38.4 million. In 2011, we made discretionary cash contributions to our U.S. qualified pension plan of
$58.9 million. We expect to contribute between $20.0 million and $30.0 million to our U.S. plan during
2013. The level of 2013 and future contributions will vary, and is dependent on a number of factors
including investment returns, interest rate fluctuations, plan demographics, funding regulations and the
results of the final actuarial valuation.
Estimated Future Benefit Payments
The following table presents estimated future benefit payments (in millions of dollars):
Postretirement
Pension Benefits Benefits (U.S.)
2013 .............................................. $ 31.1 $ 1.3
2014 .............................................. 34.4 1.4
2015 .............................................. 40.6 1.5
2016 .............................................. 44.3 1.4
2017 .............................................. 51.1 1.3
2018-2022 .......................................... 314.1 6.7
$515.6 $13.6
Multiemployer Pension Plans
We contribute to several multiemployer defined benefit pension plans under collective bargaining
agreements that cover certain of our union-represented employees. The risks of participating in such
plans are different from the risks of single-employer plans, in the following respects:
a) Assets contributed to a multiemployer plan by one employer may be used to provide benefits to
employees of other participating employers.
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