Windstream 2015 Annual Report Download - page 209

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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F-79
8. Employee Benefit Plans and Postretirement Benefits, Continued:
The following is a reconciliation of the beginning and ending balances of pension plan assets that are measured at fair value using
significant unobservable input:
(Millions)
Domestic
equities
Hedge fund
of funds
Real estate
and private
equity funds
Guaranteed
annuity
contract Total
Balance at December 31, 2013 $ 0.1 $ 60.2 $ 52.8 $ 1.9 $ 115.0
Gains related to plan assets sold during the year — — 0.9 — 0.9
Gains on plan assets still held at year-end — 1.7 5.7 0.1 7.5
Purchases and sales, net — — 78.8 (0.6) 78.2
Transfers in and/or out of level 3 — — — — —
Balance at December 31, 2014 0.1 61.9 138.2 1.4 201.6
Gains related to plan assets sold during the year — — 1.0 — 1.0
Gains on plan assets still held at year-end — 0.1 10.7 0.1 10.9
Purchases and sales, net — — (4.3)(0.4)(4.7)
Transfers in and/or out of level 3 — — — — —
Balance at December 31, 2015 $ 0.1 $ 62.0 $ 145.6 $ 1.1 $ 208.8
Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period. There were no transfers in
or out of levels 1, 2, or 3 for the years ended December 31, 2015 and 2014.
There have been no significant changes in the methodology used to value investments from prior year. The valuation methods
used may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values.
Furthermore, although the valuation methods are consistent with other market participants, the use of different methodologies or
assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the
reporting date.
Estimated Future Employer Contributions and Benefit Payments – Estimated future employer contributions, benefit payments,
including executive retirement agreements, are as follows as of December 31, 2015:
(Millions)
Pension
Benefits
Postretirement
Benefits
Expected employer contributions in 2016 $ 1.9 $ 2.1
Expected benefit payments:
2016 $ 79.8 $ 2.1
2017 82.3 2.0
2018 81.2 1.8
2019 82.1 1.7
2020 83.8 1.5
2021-2025 417.8 6.8
The 2016 expected employer contribution for pension benefits consists of $1.0 million to the qualified pension plan to meet our
2016 funding requirements and $0.9 million necessary to fund the expected benefit payments of our unfunded supplemental
executive retirement pension plans to avoid certain benefit restrictions. We intend to fund these contributions using cash.