OfficeMax 2015 Annual Report Download - page 103
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Table of Contents
(In millions)
Money market funds $ 18 $ — $ 18 $ —
Equity securities
U.S. large-cap 24 24 — —
U.S. small and mid-cap 4 4 — —
International 58 58 — —
Total equity securities 86 86 — —
Fixed-income securities
Corporate bonds 612 — 612 —
Government securities 19 — 19 —
Other fixed-income 39 — 39 —
Total fixed-income securities 670 — 670 —
Other
Equity mutual funds 255 — 255 —
Other, including plan receivables and payables 10 10 — —
265 10 255 —
$1,039 $ 96 $ 943 $ —
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-
dividend date.
Cash Flows
Pension plan contributions include required statutory minimum amounts and, in some years, additional discretionary amounts. In 2015, the Company
contributed $8 million to these pension plans. Pension contributions for the full year of 2016 are estimated to be $3 million. The Company may elect at any
time to make additional voluntary contributions.
Qualified pension benefit payments are paid from the assets held in the plan trust, while nonqualified pension and other benefit payments are paid by the
Company. Anticipated benefit payments by year are as follows:
(In millions)
2016
2017
2018
2019
2020
Next five years
101