Tyson Foods 2009 Annual Report Download - page 69

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69
The Plan Trustees have established a set of investment objectives related to the assets of the pension plans and regularly monitor the
performance of the funds and portfolio managers. Objectives for the pension assets are (1) to provide growth of capital and income,
(2) to achieve a target weighted average annual rate of return competitive with other funds with similar investment objectives and (3)
to diversify to reduce risk. The investment objectives and target asset allocation were adopted in January 2004 and amended in
November 2008. Alternative investments may include, but not limited to, hedge funds, private equity funds and fixed income funds.
Contributions
Our policy is to fund at least the minimum contribution required to meet applicable federal employee benefit and local tax laws. In
our sole discretion, we may from time to time fund additional amounts. Expected contributions to pension plans for fiscal 2010 are
approximately $4 million. For fiscal 2009, 2008 and 2007, we funded $2 million, $2 million and $5 million, respectively, to defined
benefit plans.
Estimated Future Benefit Payments
The following benefit payments are expected to be paid:
in millions
Pension Benefits
Other
Postretirement
Qualified
Non-Qualified
Benefits
2010
$
6
$
2
$
6
2011
9
2
5
2012
8
2
5
2013
7
2
5
2014
7
2
5
2015-2019
31
17
20
The above benefit payments for other postretirement benefit plans are not expected to be offset by Medicare Part D subsidies in 2010
or thereafter.
NOTE 16: SUPPLEMENTAL CASH FLOW INFORMATION
The following table summarizes cash payments for interest and income taxes:
in millions
2009
2008
2007
Interest
$
333
$
211
$
262
Income taxes, net of refunds
35
51
97
NOTE 17: TRANSACTIONS WITH RELATED PARTIES
We have operating leases for farms, equipment and other facilities with Don Tyson, a director of the Company, John Tyson,
Chairman of the Company, certain members of their families and the Randal W. Tyson Testamentary Trust. Total payments of $3
million in fiscal 2009, $3 million in fiscal 2008, and $5 million in fiscal 2007, were paid to entities in which these parties had an
ownership interest.
In 2008, a lawsuit captioned In re Tyson Foods, Inc. Consolidated Shareholder’s Litigation was settled. Pursuant to the settlement,
Don Tyson and the Tyson Limited Partnership paid us $4.5 million.