Kraft 2014 Annual Report Download - page 55
Download and view the complete annual report
Please find page 55 of the 2014 Kraft annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45 -
46 -
47 -
48 -
49 -
50 -
51 -
52 -
53 -
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
 |
 |
plans. In connection with the Spin-Off, we were required to reimburse MondelƝz International for their stock awards that were
granted to our employees, and MondelƝz International was required to reimburse us for our stock awards that were granted to their
employees. We settled the net amount we owed for this reimbursement of $55 million in March 2013.
Note 9. Postemployment Benefit Plans
We provide a range of benefits to our employees and retirees. These include pension benefits, postretirement health care benefits,
and other postemployment benefits, as follows:
50
• Pension benefits – We provide pension coverage to certain U.S. and non-U.S. employees through separate plans. Local
statutory requirements govern many of these plans. Salaried and non-union hourly employees hired prior to 2009 in the
U.S. and 2011 in Canada are eligible to participate in our pension plans. We will freeze U.S. pension plans for U.S. salaried
and non-union hourly employees who are currently earning pension benefits as of December 31, 2019 and non-U.S.
pension plans for non-U.S. salaried and non-union hourly employees who are currently earning pension benefits as of
December 31, 2023. We will calculate the pension benefits using the continuing pay and service through December 31,
2019 for the U.S. plans and December 31, 2023 for the non-U.S. plans. The pension benefits of our unionized workers are
in accordance with the applicable collective bargaining agreement covering their employment.
• Postretirement benefits – Our U.S. and Canadian subsidiaries provide health care and other postretirement benefits to most
retirees. U.S. salaried and non-union hourly employees hired prior to 2004 and non-U.S. salaried and non-union hourly
employees hired prior to 2007 are eligible to participate in our U.S. postretirement benefit plans. The postretirement
benefits of our unionized workers are in accordance with the applicable collective bargaining agreement covering their
employment.
• Other postemployment benefits – Our other postemployment benefits consist primarily of severance. These plans cover
most salaried and certain hourly employees, and their cost is charged to expense over the working life of the covered
employees.