Archer Daniels Midland 2009 Annual Report Download - page 78

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72
Archer Daniels Midland Company
Notes to Consolidated Financial Statements (Continued)
Note 14.
Employee Benefit Plans (Continued)
External consultants monitor the investment strategy and asset mix for the Company’s plan assets. To develop
the Company’s expected long-term rate of return assumption on plan assets, the Company generally uses long-
term historical return information for the targeted asset mix identified in asset and liability studies. Adjustments
are made to the expected long-term rate of return assumption when deemed necessary based upon revised
expectations of future investment performance of the overall investment markets. The expected long-term rate
of return assumption used in computing 2009 net periodic pension cost for the pension plans was 7.2%.
Contributions and Expected Future Benefit Payments
The Company expects to contribute $38 million to the pension plans and $8 million to the postretirement benefit
plan during 2010.
The following benefit payments, which reflect expected future service, are expected to be paid:
Pension
Benefits
Postretirement
Benefits
(In millions)
2010
$ 88
$ 8
2011
93
9
2012
98
11
2013
104
12
2014
110
13
2015 – 2019
647
83
Note 15.
Segment and Geographic Information
The Company is principally engaged in procuring, transporting, storing, processing, and merchandising
agricultural commodities and products. The Company’s operations are classified into three reportable business
segments: Oilseeds Processing, Corn Processing and Agricultural Services. Each of these segments is organized
based upon the nature of products and services offered. The Company’s remaining operations are aggregated
and classified as Other.