DELPHI 2015 Annual Report Download - page 119

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Table of Contents
97
Pension Funding
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Projected Pension Benefit Payments
U.S. Plans Non-U.S. Plans
(in millions)
2016 .................................................................................................................................... $ 12 $ 77
2017 .................................................................................................................................... 10 69
2018 .................................................................................................................................... 9 75
2019 .................................................................................................................................... 7 80
2020 .................................................................................................................................... 4 85
2021 – 2025 ........................................................................................................................ 8 508
Delphi anticipates making pension contributions and benefit payments of approximately $89 million in 2016.
Delphi sponsors defined contribution plans for certain hourly and salaried employees. Expense related to the
contributions for these plans was $51 million, $55 million, and $49 million for the years ended December 31, 2015, 2014 and
2013, respectively.
Plan Assets
Certain pension plans sponsored by Delphi invest in a diversified portfolio consisting of an array of asset classes that
attempts to maximize returns while minimizing volatility. These asset classes include developed market equities, emerging
market equities, private equity, global high quality and high yield fixed income, real estate and absolute return strategies.
The fair values of Delphi’s pension plan assets weighted-average asset allocations at December 31, 2015 and 2014, by
asset category, are as follows:
Fair Value Measurements at December 31, 2015
Asset Category Total
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Observable Inputs
(Level 2)
Significant
Unobservable Inputs
(Level 3)
(in millions)
Cash............................................................ $ 31 $ 31 $ — $ —
Time deposits............................................. 9 — 9 —
Equity mutual funds................................... 457 — 457 —
Bond mutual funds..................................... 230 — 230 —
Real estate trust funds ................................ 39 — — 39
Hedge Funds .............................................. 102 — — 102
Insurance contracts..................................... 1 — — 1
Debt securities............................................ 286 282 4 —
Equity securities......................................... 54 54 — —
Total....................................................... $ 1,209 $ 367 $ 700 $ 142