Memorex 2011 Annual Report Download - page 78

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
December 31,
2010
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs (Level 2)
Unobservable
Inputs
(Level 3)
(In millions)
Short-term investments:
Money markets ................... $ 1.5 $ 1.5 $ — $—
Commingled trust funds ............. — — — —
Mutual funds ..................... 0.2 — 0.2 —
Other short-term investments ......... 0.2 — 0.2 —
Fixed income securities:
Mutual funds ..................... 35.6 13.2 22.4 —
Equity securities:
Blended mutual funds .............. 26.4 7.9 18.5 —
Large-cap growth funds ............. 18.3 — 18.3 —
Small-cap growth funds ............. 6.9 6.9 — —
Small-cap value funds .............. 6.8 6.8 — —
Commingled trust funds ............. 7.2 — 7.2 —
Growth mutual funds ............... 1.1 1.1 — —
Other investments:
Insurance contracts ................ 18.8 — 18.8 —
Absolute return strategy funds ........ 8.7 — 8.7 —
Total ........................... $131.7 $37.4 $94.3 $—
Employee Retirement Savings Plans
We sponsor a 401(k) retirement savings plan under which eligible United States employees may choose to save up to
20 percent of eligible compensation on a pre-tax basis, subject to certain IRS limitations. From January 1 to March 31, 2009,
we matched 100 percent of employee contributions up to the first three percent of eligible compensation plus 50 percent on
the next two percent of eligible compensation. Between April 2009 and December 31, 2009, we matched 50 percent of
employee contributions on the first three percent of eligible compensation and 25 percent on the next two percent of eligible
compensation in our stock. In November 2009, we determined it was appropriate to reinstate our 401(k) Plan matching
contribution to the rate applied prior to April 2009. The reinstatement became effective January 1, 2010 and continued
through December 31, 2010. Effective January 1, 2011, we match 100 percent of employee contributions up to the first five
percent of eligible compensation.
We also sponsor a variable compensation program in which we may, at our discretion, contribute up to three percent of
eligible employee compensation to employees’ 401(k) retirement accounts, depending upon total company performance. No
contributions have been made under the variable compensation program for the years ended 2011, 2010 or 2009.
We used shares of treasury stock to match employee 401(k) contributions for 2011, 2010 and 2009. Total expense
related to the use of shares of treasury stock to match employee 401(k) contributions was $2.1 million, $1.7 million and $1.3
million in 2011, 2010 and 2009, respectively.
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