MasterCard 2014 Annual Report Download - page 70

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MASTERCARD INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
68
The following tables set forth by level, within the Valuation Hierarchy, the Pension Plans’ assets at fair value as of December 31,
2014 and 2013:
December 31, 2014
Quoted Prices in
Active Markets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3) Fair Value
(in millions)
Mutual funds:
Money market / certificates of deposit . . . . . . . . . . . . . . . . . . . $ 99 $ — $ — $ 99
Domestic small cap equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 — — 11
International equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 — — 9
Common and collective funds:
Domestic large cap equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 35 — 35
Domestic fixed income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 107 — 107
Insurance contracts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 22 — 22
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 119 $ 164 $ — $ 283
December 31, 2013
Quoted Prices in
Active Markets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3) Fair Value
(in millions)
Mutual funds:
Money market. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 115 $ — $ — $ 115
Domestic small cap equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 — — 10
International equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 — — 9
Common and collective funds:
Domestic large cap equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 31 — 31
Domestic fixed income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 101 — 101
Insurance contracts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 9 — 9
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 134 $ 141 $ — $ 275
Pursuant to the requirements of the Pension Protection Act of 2006, the Company did not have a mandatory contribution to the
Qualified Plan in 2014, 2013 and 2012. The Company is not required to contribute to the Qualified Plan in 2015 and does not
intend to make a contribution in 2015. The international defined benefit pension plans are subject to statutory regulations for
funding and the Company estimates it will contribute approximately $10 million to these plans in 2015. The Company does not
make any contributions to the Non-qualified Plan or to its Postretirement Plans, other than funding benefit payments.