Delta Airlines 2014 Annual Report Download - page 89

Cash Equivalents. These investments primarily consist of high-quality, short-term obligations that are a part of an institutional money market
mutual fund. The fund’s market-based net asset value per share is calculated using current market quotations or an appropriate substitute that reflects
current market conditions.
Other. Primarily globally-diversified, risk-managed commingled funds consisting mainly of equity, fixed income, and commodity exposures.
Changes in Level 3. The following table shows the changes in our benefit plan assets classified in Level 3:
Other
We also sponsor defined benefit pension plans for eligible employees in certain foreign countries. These plans did not have a material impact on
our Consolidated Financial Statements in any period presented.
Profit Sharing Program
Our broad-based employee profit sharing program provides that, for each year in which we have an annual pre-
tax profit, as defined by the terms of
the program, we will pay a specified portion of that profit to employees. In determining the amount of profit sharing, the program defines profit as pre-
tax profit excluding profit sharing and special items, such as MTM adjustments and restructuring and other items. Our profit sharing program pays
10% to employees for the first $2.5 billion of annual profit and 20% of annual profit above $2.5 billion. For the years ended December 31, 2014 ,
2013
and 2012 , we recorded expenses of $1.1 billion , $506 million and $372 million under the profit sharing program, respectively.
82
(in millions) Private Equity Real Estate Hedge Funds Fixed Income Other Total
Balance at January 1, 2013
$
1,466
$
613
$
484
$
13
$
—
$
2,576
Actual return on plan assets:
Related to assets still held at the reporting date
98
61
49
2
—
210
Related to assets sold during the period
64
19
—
—
—
83
Purchases, sales and settlements, net
(262
)
(5
)
19
44
—
(
204
)
Balance at December 31, 2013
1,366
688
552
59
—
2,665
Actual return on plan assets:
Related to assets still held at the reporting date
(116
)
(39
)
167
(17
)
(9
)
(14
)
Related to assets sold during the period
107
37
38
1
—
183
Purchases, sales and settlements, net
(144
)
(23
)
1,457
81
393
1,764
Balance at December 31, 2014
$
1,213
$
663
$
2,214
$
124
$
384
$
4,598