Sysco 2015 Annual Report Download - page 77
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Please find page 77 of the 2015 Sysco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.SYSCO CORPORATION-Form10-K 69
PARTII
ITEM 8Financial Statements and Supplementary Data
The following table provides information about the company’s contributions to individually signi cant plans:
•The “Sysco Contributions” columns provide contribution amounts based on Sysco’s scal years, which may not coincide with the plans’ scal years.
•The“Sysco 5% of Total Plan Contributions” columns indicate whether Sysco was listed in the plan’s most recently led Form 5500s as providing more
than ve percent of the total contributions to the plan, and the plan year-end is noted.
Pension Fund
(Inthousands)
Sysco Contributions
Sysco 5% of Total Plan
Contributions
2015 2014 2013
Year Ending
12/31/13
Year Ending
12/31/12
Western Conference of Teamsters Pension Plan $ 23,268 $ 21,893 $ 20,561 No No
Teamsters Pension Trust Fund of Philadelphia and Vicinity 2,233 1,977 2,256 No No
N.Y. State Teamsters Conference Pension and
Retirement Fund
1,455 1,444 1,399 No No
Truck Drivers and Helpers Local Union No. 355
Retirement Pension Fund
2,068 1,874 1,624 Yes Yes
Minneapolis Food Distributing Industry Pension Plan 3,073 3,214 2,976 Yes Yes
For all of the plans noted in the table above, minimum contributions outside of the agreed upon contractual rate are not required.
Other Postretirement Bene t Plans
In addition to the contributions to the de ned bene t pension plans described above, Sysco also contributes to several multiemployer plans that provide
other postretirement bene ts based on obligations arising under collective bargaining agreements covering union-represented employees. These plans may
provide medical, pharmacy, dental, vision, mental health and other bene ts to active employees and retirees as determined by the trustees of each plan.
Sysco contributed to these plans $28.5 million in scal 2015, $29.7 million in scal 2014 and $30.6 million in scal 2013. There have been no signi cant
changes that affect the comparability of scal 2015, scal 2014 and scal 2013 contributions.
NOTE16 Earnings Per Share
Basic earnings per share has been computed by dividing net earnings by the weighted average number of shares of common stock outstanding for each
respective year. Diluted earnings per share has been computed by dividing net earnings by the weighted average number of shares of common stock
outstanding during those respective years adjusted for the dilutive effect of share-based awards outstanding using the treasury stock method.
A reconciliation of the numerators and the denominators of the basic and diluted earnings per share computations for the periods presented follows:
(Inthousands, except for share and per share data)
2015 2014 2013
Numerator:
Net earnings $ 686,773 $ 931,533 $ 992,427
Denominator:
Weighted-average basic shares outstanding 592,072,308 585,988,084 589,397,807
Dilutive effect of share-based awards 4,776,726 4,228,136 3,277,303
Weighted-average diluted shares outstanding 596,849,034 590,216,220 592,675,110
BASIC EARNINGS PER SHARE: $ 1.16 $ 1.59 $ 1.68
DILUTED EARNINGS PER SHARE: $ 1.15 $ 1.58 $ 1.67
The number of options that were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive was approximately
2,400,000, 2,100,000 and 18,200,000 for scal 2015, 2014 and 2013, respectively.
Dividends declared were $705.5 million, $673.6 million and $654.9 million in scal 2015, 2014 and 2013, respectively. Included in dividends declared for
each year were dividends declared but not yet paid at year-end of approximately $178.3 million, $171.6 million and $165.8 million in scal 2015, 2014
and 2013, respectively.