Tyson Foods 2014 Annual Report Download - page 40

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Pension Plans
As further described in Part II, Item 8, Notes to Consolidated Financial Statements, Note 15: Pension and Other Postretirement Benefits, the
funded status of our defined benefit pension plans is defined as the amount the projected benefit obligation exceeds the plan assets. The funded
status of the plans is an underfunded position of $ 381 million at the end of fiscal 2014 as compared to an underfunded position of $ 86 million
at the end of fiscal 2013. The increase in the underfunded position is due to the acquisition of Hillshire Brands.
We expect to contribute approximately $14 million of cash to our pension plans in 2015 as compared to approximately $9 million in 2014 and
$8 million
in 2013. The exact amount of cash contributions made to pension plans in any year is dependent upon a number of factors, including
minimum funding requirements. As a result, the actual funding in 2015 may be different from the estimate.
OFF-BALANCE SHEET ARRANGEMENTS
We do not have any off-balance sheet arrangements material to our financial position or results of operations. The off-balance sheet
arrangements we have are guarantees of debt of outside third parties, including leases and grower loans, and residual value guarantees covering
certain operating leases for various types of equipment. See Part II, Item 8, Notes to Consolidated Financial Statements, Note 20: Commitments
and Contingencies for further discussion.
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