AMD 2006 Annual Report Download - page 308

Spansion Inc.
Notes to Consolidated Financial Statements—(Continued)
The below table summarizes the benefits expected to be paid in each of the next five fiscal years, and in the aggregate for the five fiscal years thereafter:
Fiscal Year
Expected
Benefit Payments
2007 $ 488,000
2008 570,000
2009 701,000
2010 783,000
2011 984,000
2012-2016 7,570,000
Profit Sharing Program
Effective June 30, 2003 and through January 11, 2007, the Company elected to participate in AMD’s profit sharing program. Under that plan, the
Company could allocate profit sharing contributions quarterly in any quarter in which it had an operating profit. Employees who had worked with the Company
for three months or more were eligible to participate in the plan. Profit sharing expense under this plan was approximately $0, $0 and $3.3 million for the years
ended December 31, 2006, December 25, 2005 and December 26, 2004, respectively.
Retirement Savings Plan
Effective June 30, 2003 and through January 11, 2007, the Company elected to participate in AMD’s retirement savings plan, commonly known as a
401(k) plan. Under that plan, the Company’s U.S. employees were able to contribute up to 100 percent of their pre-tax salary subject to Internal Revenue Service
limits. The Company matched employee contributions at a rate of 50 cents on each dollar of the first six percent of participants’ contributions, to a maximum of
three percent of eligible compensation. The Company’s matching contributions to this 401(k) plan were approximately $5.3 million, $4.3 million and $3.7
million for the years ended December 31, 2006, December 25, 2005 and December 26, 2004, respectively.
15. Segment Reporting
The Company operates and tracks its results in one reportable segment. The Company primarily designs, develops, manufactures, markets and sells Flash
memory products for the wireless and embedded applications in the integrated category of the Flash memory market.
Source: ADVANCED MICRO DEVIC, 10-K, March 01, 2007