Albertsons 2014 Annual Report Download - page 102
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The fair value of assets of the Company’s defined benefit pension plans held in a master trust as of February 23,
2013, by asset category, consisted of the following:
Level 1 Level 2 Level 3 Total
Common stock $ 554 $ — $ — $ 554
Common collective trusts—fixed income — 247 — 247
Common collective trusts—equity — 335 — 335
Government securities 60 92 — 152
Mutual funds 51 221 — 272
Corporate bonds — 183 — 183
Real estate partnerships — — 136 136
Private equity — — 110 110
Mortgage-backed securities — 35 — 35
Other 3 4 — 7
Total plan assets at fair value $ 668 $ 1,117 $ 246 $ 2,031
The following is a summary of changes in the fair value for Level 3 investments for 2014 and 2013:
Real Estate
Partnerships Private Equity
Ending balance, February 25, 2012 $ 113 $ 88
Purchases 15 20
Sales — (7)
Unrealized gains 8 9
Ending balance, February 23, 2013 136 110
Purchases 22 34
Sales (26) (24)
Unrealized gains 10 5
Realized gains and losses 7 —
Ending balance, February 22, 2014 $ 149 $ 125
Contributions
The Company expects to contribute approximately $130 to $140 to its defined benefit pension plans and
postretirement benefit plans in fiscal 2015. The Company’s funding policy for the defined benefit pension plans
is to contribute the minimum contribution required under the Employee Retirement Income Security Act of 1974,
as amended, the Pension Protection Act of 2006 and other applicable laws, as determined by the Company’s
external actuarial consultant and its agreement with the PBGC described in Note 12—Commitments,
Contingencies and Off—Balance Sheet Arrangements with consideration given to contributing larger amounts.
The Company will recognize contributions in accordance with applicable regulations, with consideration given to
recognition for the earliest plan year permitted.
At the Company’s discretion, additional funds may be contributed to the pension plan. The Company may
accelerate contributions or undertake contributions in excess of the minimum requirements from time to time
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