INTL FCStone 2014 Annual Report Download - page 110

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INTL FCSTONE INC. Form 10K94
PART II
ITEM 8 Financial Statements and Supplementary Data
e following tables summarize the Company’s pension assets, excluding cash held in the plan, by major category of plan assets
measured at fair value on a recurring basis (at least annually) as of September 30, 2014 and 2013. For additional information and a
detailed description of each level within the fair value hierarchy, see Note 3.
(in millions)
September 30, 2014
Level 1 Level 2 Level 3 Total
Assets:
Cash equivalents $ — $ 1.0 $ — $ 1.0
Fixed income:
Government and agencies — — — —
Collective funds:
Fixed income — 19.6 — 19.6
Equities — 10.0 — 10.0
Real estate — 0.6 — 0.6
Total $ — $ 31.2 $ — $ 31.2
(in millions)
September 30, 2013
Level 1 Level 2 Level 3 Total
Assets:
Cash equivalents $ — $ 0.5 $ — $ 0.5
Fixed income:
Government and agencies — 0.6 — 0.6
Collective funds:
Fixed income — 8.1 — 8.1
Equities — 18.7 — 18.7
Real estate — 1.0 — 1.0
Total $ — $ 28.9 $ — $ 28.9
Cash equivalents are mostly comprised of short-term money
market instruments and the valuation is based on inputs derived
from observable market data of related assets.
Fixed Income: ese securities primarily include debt issued by
the U.S. Department of Treasury and securities issued or backed
by U.S. government sponsored entities and municipal bonds.
ese investments are valued utilizing a market approach that
includes various valuation techniques and sources such as, broker
quotes in active and non-active markets, benchmark yields and
securities, reported trades, issuer spreads, and/or other applicable
reference data and are generally classified within Level 2.
Collective Funds: These collective investment funds are
unregistered investment vehicles that invest in portfolios of stock,
bonds, or other securities. e fair value of these investments
is based on the NAV of the units held in the respective funds.
As no redemption restrictions or other features are noted that
require adjustment to NAV. ese funds are classified as Level 2
investments.
e Company expects to contribute $2.5 million to the pension
plans during fiscal 2015, which represents the minimum funding
requirement. However, the Company is currently determining
what voluntary pension plan contributions, if any, will be made
in fiscal 2015.
e following benefit payments, which reflect expected future service, are expected to be paid:
(in millions)
Year ending September 30,
2015 $ 3.3
2016 3.2
2017 2.9
2018 2.0
2019 2.0
2020 - 2024 9.5
$ 22.9