Coca Cola 2015 Annual Report Download - page 123
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Defined Contribution Plans
Our Company sponsors qualified defined contribution plans covering substantially all U.S. employees. Under the largest U.S. defined contribution plan, we
match participants' contributions up to a maximum of 3.5 percent of compensation, subject to certain limitations. Company costs related to the U.S. plans
were $94 million, $92 million and $97 million in 2015, 2014 and 2013, respectively. We also sponsor defined contribution plans in certain locations outside
the United States. Company costs associated with those plans were $35 million, $36 million and $32 million in 2015, 2014 and 2013, respectively.
Multi-Employer Plans
As a result of our acquisition of Old CCE's North America business during the fourth quarter of 2010, the Company now participates in various multi-
employer pension plans in the United States. Multi-employer pension plans are designed to cover employees from multiple employers and are typically
established under collective bargaining agreements. These plans allow multiple employers to pool their pension resources and realize efficiencies associated
with the daily administration of the plan.
Multi-employer plans are generally governed by a board of trustees composed of management and labor representatives and are funded through employer
contributions.
The Company's expense for U.S. multi-employer pension plans totaled $40 million, $38 million and $37 million in 2015, 2014 and 2013, respectively. The
plans we currently participate in have contractual arrangements that extend into 2020. If, in the future, we choose to withdraw from any of the multi-employer
pension plans in which we currently participate, we would need to record the appropriate withdrawal liabilities at that time.
Income before income taxes consisted of the following (in millions):
Year Ended December 31,
2014
2013
United States
$ 1,567
$ 2,451
International
7,758
9,026
Total
$ 9,325
$ 11,477
Income tax expense consisted of the following for the years ended December 31, 2015, 2014 and 2013 (in millions):
United States
State and Local
International
Total
Current
Deferred
2014
Current $ 867
$ 81
$ 1,293
$ 2,241
Deferred (97)
(21)
78
(40)
2013
Current $ 713
$ 102
$ 1,388
$ 2,203
Deferred 305
38
305
648
We made income tax payments of $2,357 million, $1,926 million and $2,162 million in 2015, 2014 and 2013, respectively.
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