Employee Retirement Plans and Postretirement Benefits

We maintain retirement plans for the majority of our employees. Depending on the benefit program, we provide either defined benefit pension or defined contribution plans to our employees in each of our segments. Each plan is managed locally and in accordance with respective local laws and regulations. We have defined benefit pension plans in the U.K., Canada and Japan. All retirement plans for MCBC employees in the U.S. are defined contribution pension plans. Additionally, we offer OPEB plans to the majority of our Canadian, U.S. and Central European employees; these plans are not funded. MillerCoors, BRI and BDL maintain defined benefit pension and postretirement benefit plans as well; however, those plans are excluded from this disclosure as they are equity method investments and not consolidated.

Defined Benefit and OPEB Plans

Net Periodic Pension and OPEB Cost



	For the years ended
	December 31, 2013									December 29, 2012									December 31, 2011
	Pension			OPEB			Consolidated			Pension			OPEB			Consolidated			Pension			OPEB			Consolidated
	(In millions)
Components of net periodic pension and OPEB cost:
Service cost—benefits earned during the year	$	15.8		$	3.4		$	19.2		$	16.8		$	2.9		$	19.7		$	18.8		$	2.4		$	21.2
Interest cost on projected benefit obligation	157.0			7.2			164.2			165.7			8.0			173.7			180.5			7.7			188.2
Expected return on plan assets	(177.9		)	—			(177.9		)	(175.2		)	—			(175.2		)	(199.4		)	—			(199.4		)
Amortization of prior service cost (benefit)	0.8			(3.6		)	(2.8		)	0.8			(3.7		)	(2.9		)	0.8			(3.8		)	(3.0		)
Amortization of net actuarial loss (gain)	56.6			(0.1		)	56.5			39.4			(0.2		)	39.2			20.2			(3.4		)	16.8
Curtailment loss	—			—			—			1.3			—			1.3			—			—			—
Special termination benefits	—			—			—			0.4			—			0.4			—			—			—
Less: expected participant contributions	(1.2		)	—			(1.2		)	(1.5		)	—			(1.5		)	(1.6		)	—			(1.6		)
Net periodic pension and OPEB cost	$	51.1		$	6.9		$	58.0		$	47.7		$	7.0		$	54.7		$	19.3		$	2.9		$	22.2

Obligations and Changes in Funded Status

The changes in the benefit obligation, plan assets and the funded status of the pension and OPEB plans are as follows:



	For the year ended December 31, 2013									For the year ended December 29, 2012
	Pension			OPEB			Consolidated			Pension			OPEB			Consolidated
	(In millions)
Change in benefit obligation:
Prior year benefit obligation	$	3,955.5		$	186.4		$	4,141.9		$	3,603.9		$	168.4		$	3,772.3
Postretirement benefit obligation assumed in Acquisition	—			—			—			—			2.7			2.7
Service cost, net of expected employee contributions	14.7			3.4			18.1			15.6			2.9			18.5
Interest cost	157.0			7.2			164.2			165.7			8.0			173.7
Actual employee contributions	1.1			—			1.1			1.3			—			1.3
Curtailment loss	—			—			—			1.3			—			1.3
Special termination benefits	—			—			—			0.4			—			0.4
Actuarial loss (gain)	(84.6		)	(15.7		)	(100.3		)	243.7			8.3			252.0
Amendments	0.5			(0.1		)	0.4			0.5			—			0.5
Benefits paid	(201.0		)	(8.5		)	(209.5		)	(199.0		)	(8.1		)	(207.1		)
Adjustment due to change in historical accounting	8.1			—			8.1			—			—			—
Foreign currency exchange rate change	(34.4		)	(10.6		)	(45.0		)	122.1			4.2			126.3
Benefit obligation at end of year	$	3,816.9		$	162.1		$	3,979.0		$	3,955.5		$	186.4		$	4,141.9
Change in plan assets:
Prior year fair value of assets	$	3,353.8		$	—		$	3,353.8		$	3,138.9		$	—		$	3,138.9
Actual return on plan assets	359.7			—			359.7			254.4			—			254.4
Employer contributions	113.1			8.5			121.6			55.3			8.1			63.4
Actual employee contributions	1.1			—			1.1			1.3			—			1.3
Benefits and plan expenses paid	(204.5		)	(8.5		)	(213.0		)	(201.1		)	(8.1		)	(209.2		)
Foreign currency exchange rate change	(27.0		)	—			(27.0		)	105.0			—			105.0
Fair value of plan assets at end of year	$	3,596.2		$	—		$	3,596.2		$	3,353.8		$	—		$	3,353.8
Funded status:	$	(220.7	)	$	(162.1	)	$	(382.8	)	$	(601.7	)	$	(186.4	)	$	(788.1	)
Amounts recognized in the Consolidated Balance Sheets:
Other non-current assets	$	91.8		$	—		$	91.8		$	56.5		$	—		$	56.5
Accounts payable and other current liabilities	(3.1		)	(8.9		)	(12.0		)	(2.6		)	(9.0		)	(11.6		)
Pension and postretirement benefits	(309.4		)	(153.2		)	(462.6		)	(655.6		)	(177.4		)	(833.0		)
Net amounts recognized	$	(220.7	)	$	(162.1	)	$	(382.8	)	$	(601.7	)	$	(186.4	)	$	(788.1	)

The accumulated benefit obligation for our defined benefit pension plans was $3,805.9 million and $3,953.0 million at December 31, 2013, and December 29, 2012, respectively. The $405.3 million improvement in the net underfunded status of our aggregate pension and OPEB plans from December 29, 2012 to December 31, 2013 was primarily driven by the increase in the weighted average discount rates used, discussed below, as well as increased employer contributions and the performance of our plan assets exceeding the expected return for our funded plans by approximately $180 million.

Information for defined benefit pension and OPEB plans with aggregate accumulated benefit and projected benefit obligations in excess of plan assets is as follows:



	As of December 31, 2013						As of December 29, 2012
	Pension		OPEB		Consolidated		Pension		OPEB		Consolidated
	(In millions)
Accumulated benefit obligation	$	3,105.7	$	162.1	$	3,267.8	$	3,580.9	$	186.4	$	3,767.3
Projected benefit obligation	$	3,115.5	$	162.1	$	3,277.6	$	3,582.3	$	186.4	$	3,768.7
Fair value of plan assets	$	2,803.0	$	—	$	2,803.0	$	2,924.1	$	—	$	2,924.1

Accumulated Other Comprehensive Income

Amounts recognized in AOCI not yet recognized as components of net periodic pension and OPEB cost, pretax were as follows:



	As of December 31, 2013								As of December 29, 2012
	Pension		OPEB			Consolidated			Pension		OPEB			Consolidated
	(In millions)
Net actuarial loss (gain)	$	811.1	$	(21.7	)	$	789.4		$	1,130.9	$	(6.1	)	$	1,124.8
Net prior service cost	3.1		(3.9		)	(0.8		)	3.4		(7.2		)	(3.8		)
Total not yet recognized	$	814.2	$	(25.6	)	$	788.6		$	1,134.3	$	(13.3	)	$	1,121.0

Changes in plan assets and benefit obligations recognized in OCI, pretax were as follows:



	Pension			OPEB			Consolidated
	(In millions)
Accumulated other comprehensive loss (income) as of December 31, 2011	$	1,003.0		$	(24.6	)	$	978.4
Amortization of prior service costs (benefit)	(0.8		)	3.7			2.9
Amortization of net actuarial loss (gain)	(39.4		)	0.2			(39.2		)
Current year actuarial loss	168.2			8.3			176.5
Foreign currency exchange rate change	3.3			(0.9		)	2.4
Accumulated other comprehensive loss (income) as of December 29, 2012	$	1,134.3		$	(13.3	)	$	1,121.0
Amortization of prior service costs (benefit)	(0.8		)	3.6			2.8
Amortization of net actuarial loss (gain)	(56.6		)	0.1			(56.5		)
Current year actuarial loss (gain)	(262.3		)	(15.7		)	(278.0		)
Plan amendment	—			(0.1		)	(0.1		)
Foreign currency exchange rate change	(0.4		)	(0.2		)	(0.6		)
Accumulated other comprehensive loss (income) as of December 31, 2013	$	814.2		$	(25.6	)	$	788.6

Amortization of AOCI expected to be recognized in net periodic pension and OPEB cost during fiscal year 2014 pretax is as follows:



	Pension			OPEB			Consolidated
	(In millions)
Amortization of net prior service cost (gain)	$	0.7		$	(3.3	)	$	(2.6	)
Amortization of actuarial net loss (gain)	$	(9.5	)	$	(0.9	)	$	(10.4	)

Assumptions

Periodic pension and OPEB cost is actuarially calculated annually for each individual plan based on data available at the beginning of each year. Assumptions used in the calculation include the settlement discount rate selected and disclosed at the end of the previous year as well as other assumptions detailed in the table below. The weighted-average rates used in determining the periodic pension and OPEB cost for the fiscal years 2013, 2012 and 2011 were as follows:



	For the years ended
	December 31, 2013		December 29, 2012		December 31, 2011
	Pension	OPEB	Pension	OPEB	Pension	OPEB
Weighted-average assumptions:
Settlement discount rate	4.18%	4.12%	4.61%	4.66%	5.32%	5.33%
Rate of compensation increase(1)	2.50%	N/A	2.50%	N/A	3.00%	N/A
Expected return on plan assets(2)	5.83%	N/A	5.57%	N/A	6.17%	N/A
Health care cost trend rate	N/A	Ranging ratably from 7.9% in 2013 to 4.5% in 2028	N/A	Ranging ratably from 8.2% in 2012 to 4.5% in 2028	N/A	Ranging ratably from 8.5% in 2011 to 4.5% in 2028


(1)	U.K. plan was closed to future accrual during 2009.

(2)

We develop our long term expected return on assets ("EROA") assumptions annually with input from independent investment specialists including our actuaries, investment consultants and other specialists. Each EROA assumption is based on historical data, including historical returns, historical market rates and is calculated for each plan's individual asset class. The calculation includes inputs for interest, inflation, credit, and risk premium (active investment management) rates and fees paid to service providers. We consider our EROA to be a significant management estimate. Any material changes in the inputs to our methodology used in calculating our EROA could have a significant impact on our reported defined benefit pension plans' expense.

Benefit obligations are actuarially calculated annually at the end of each year based on the assumptions detailed in the table below. Obligations under the OPEB plans are determined by the application of the terms of medical and life insurance plans, together with relevant actuarial assumptions and heath care cost trend rates. The weighted-average rates used in determining the projected benefit obligation for defined pension plans and the accumulated postretirement benefit obligation for OPEB plans, as of December 31, 2013, and December 29, 2012, were as follows:



	As of December 31, 2013		As of December 29, 2012
	Pension	OPEB	Pension	OPEB
Weighted-average assumptions:
Settlement discount rate	4.57%	4.79%	4.18%	4.12%
Rate of compensation increase(1)	2.50%	N/A	2.50%	N/A
Health care cost trend rate	N/A	Ranging ratably from 7.7% in 2014 to 4.5% in 2028	N/A	Ranging ratably from 7.9% in 2013 to 4.5% in 2028


(1)	U.K. plan was closed to future accrual during 2009.

The increase to the weighted-average discount rates used for our defined benefit pension plans and postretirement plans at December 31, 2013, from December 29, 2012, largely resulted from improving economic conditions in the countries in which our respective plans reside and central banks' anticipated reduced emphasis on continued monetary stimulus.

Assumed health care cost trend rates have a significant effect on the amounts reported for OPEB health care plans. A one-percentage point change in assumed health care cost trend rates would have the following effects on related OPEB plans:



	1% point increase (unfavorable)			1% point decrease favorable
	(In millions)
Effect on total of service and interest cost components	$	(1.2	)	$	1.3
Effect on postretirement benefit obligations	$	(17.4	)	$	15.9

Investment Strategy

The obligations of our defined benefit pension plans in Canada and the U.K. are supported by assets held in trusts for the payment of future benefits. The business segments are obligated to adequately fund these asset trusts. The underlying investments within our defined benefit pension plans include: cash and short term instruments, debt securities, equity securities, investment funds, and other investments including hedge fund of funds and real estate. Investment allocations reflect the customized strategies of the respective plans.

The plans use liability driven investment strategies in managing defined pension benefits. For all defined benefit pension plan assets the plans have the following primary investment objectives:


(1)	optimize the long-term return on plan assets at an acceptable level of risk and manage projected future cash contributions;


(2)	maintain a broad diversification across asset classes and among investment managers;


(3)	manage the risk level of the plan' assets in relation to the plans' liabilities

Each plan's respective allocation targets promote optimal expected return and volatility characteristics given a focus on a long-term time horizon for fulfilling the plans' obligations. All assets are managed by external investment managers with a mandate to either match or outperform their benchmark. The plans use different asset managers in the U.K. and Canada and each plan's respective asset allocation could be impacted by a change in asset managers. The U.K. plan has committed to investing with certain investment managers but is awaiting their capital calls. As such, the asset allocation is expected to change during 2014.

Our investment strategies for our defined benefit pension plans also consider the funding status for each plan. For defined benefit pension plans that are highly funded, assets are invested primarily in fixed income holdings that have a similar duration to the associated liabilities. For plans with lower funding levels, the fixed income component is managed in a similar manner to the highly funded plans. In addition to this liability-matching fixed income allocation, these plans also contain exposure to return generating assets including: equities, real estate, debt, and other investments held with the goal of producing higher returns, which may also have a higher risk profile. These investments are diversified by investing globally with limitations placed on issuer concentration.

For both our U.K. and Canadian plans, the plans hedge a portion of the foreign exchange exposure between plan assets which are not denominated in the local plan currency and the local currency as the Canadian and U.K. pension liabilities will be settled in CAD and GBP, respectively.

Target Allocations

The following compares target asset allocation percentages with actual asset allocations on a weighted-average asset basis at December 31, 2013:



	Target allocations	Actual allocations
Equities	31.8%	34.4%
Fixed income(1)	48.7%	45.8%
Hedge funds	9.9%	9.4%
Real estate	4.3%	6.3%
Other	5.3%	4.1%


(1)	Target allocation and actual allocation percentages for fixed income include associated repurchase agreements.

Significant Concentration Risks

We periodically evaluate our defined benefit pension plan assets for concentration risks. As of December 31, 2013, we did not have any individual underlying asset positions that composed greater than 10% of each plan's overall assets. However, we currently have significant plan assets invested in U.K., U.S. and Canadian government fixed income holdings. A provisional credit rating downgrade for any of these governments could negatively impact the asset values.

Further, as our benefit plans maintain exposure to non-government investments, a significant system-wide increase in credit spreads would also negatively impact the reported plan asset values. In general, equity and fixed income risks have been mitigated by company-specific concentration limits and by utilizing multiple equity managers. We do have significant amounts of assets invested with individual fixed income and hedge fund managers, and so the plans use outside investment consultants to aid in the oversight of these managers and fund performance.

Valuation Techniques

We use a variety of industry accepted valuation techniques to value our plan assets. The techniques vary depending upon instrument type. Whenever possible, we prioritize the use of observable market data in our valuation processes. We use market, income and cost approaches to value our plan assets as of period end. See Note 1 "Basis of Presentation and Summary of Significant Accounting Policies" for additional information on our fair value methodologies and accounting policies. We have not changed our fair value techniques used to value plan assets this year.

Major Categories of Plan Assets

As of December 31, 2013, our major categories of plan assets included the following:

•

Cash and short-term instruments—Includes cash, trades awaiting settlement, bank deposits, short-term bills and short-term notes. Our "trades awaiting settlement" category includes payables and receivables associated with asset purchases and sales that are awaiting final cash settlement as of year end due to the use of trade date accounting for our pension plans assets. These payables normally settle within a few business days of the purchase or sale of the respective asset. The respective assets are included in or removed from our year end plan assets and categorized in their respective asset categories in the fair value hierarchy below. We include these items in Level 1 of this hierarchy, as the values are derived from quoted prices in active markets. Short-term instruments are included in Level 2 of the fair value hierarchy as these are highly liquid instruments that are valued using observable inputs, but their asset values are not publicly quoted.

•

Debt securities—Includes various government and corporate fixed income securities, interest and inflation-linked assets such as bonds and swaps, collateralized securities, and other debt securities. The majority of the plans' fixed income assets trade on "over the counter" exchanges, which provides observable inputs that are the primary data used to determine each individual investment's fair value. We also use independent pricing vendors, as well as matrix pricing techniques. Matrix pricing uses observable data from other similar investments as the primary input to determine the individual security's fair value. Government and corporate fixed income securities are generally classified as Level 2 in the fair value hierarchy as they are valued using observable inputs. Assets included in our collateralized securities include mortgage backed securities and collateralized mortgage obligations, which are considered Level 3 due to the use of the significant unobservable inputs used in deriving these assets' fair values.

•

Equities—Includes publicly traded common and other equity-like holdings, primarily publicly traded common stock, including real estate investment trusts, certain commingled funds investing in equities and other fund holdings. Equity assets are well diversified between international and domestic investments. We consider equities quoted on public exchanges as Level 1 while other assets that are not quoted on public exchanges but valued using significant observable inputs as Level 2 depending on the individual asset's characteristics.

•

Investment funds—Includes our debt funds, equity funds, hedge fund of funds, and real estate fund holdings. The market values for these funds are based on the net asset values multiplied by the number of shares owned. For some of our hedge fund of funds, debt funds and equity funds, we have the ability to liquidate without material delays at their net asset value and have recorded these assets at Level 2 as the values were based upon significant observable inputs.

Other hedge fund of funds, debt funds and real estate funds, where we do not have this flexibility to liquidate the entire portfolio, are considered Level 3. This category does not directly hold physical real estate assets. For our real estate funds, these investment managers employ third-party appraisers to value each fund's underlying real estate holdings, which include apartments, office space, hotels and industrial holdings. Each property is valued at least once a year, but not all assets are valued by the independent appraiser during the same quarter. The highest and best use of each holding is used to determine the value of the holding. The independent appraisers use a combination of comparable sales methods and discounted cash flow techniques to value these holdings.

•

Other—Includes credit default swaps, repurchase agreements, recoverable taxes for taxes paid and awaiting reclaim due to the tax exempt nature of the pension plan, venture capital, corporate real estate debt and private equity. Repurchase agreements are agreements where our plan has created an asset exposure using borrowed assets, creating a repurchase agreement liability, to facilitate the trade. The assets associated with the repurchase agreement are included in the other category in the fair value hierarchy, and the repurchase agreement liability is classified as Level 1 in the hierarchy, as the liability is valued using quoted prices in active markets. When determining the presentation of our target and asset allocations for repurchase agreements, we are viewing the asset type, as opposed to the investment vehicle, and accordingly include the associated assets within fixed income, specifically interest and inflation linked assets. The significant increase in repurchases agreements from 2012 to 2013 is due to the relative favorable pricing of obtaining interest rate and inflation exposure in comparison to obtaining swaps. We include recoverable tax items in Level 1 of this hierarchy, as these are cash receivables and the values are derived from quoted prices in active markets. Our credit default swaps are included in Level 2 as the values were based upon significant observable inputs and our venture capital and private equity are included in Level 3 as the values are based upon the use of unobservable inputs.

Fair Value Hierarchy

The following presents our fair value hierarchy for our defined benefit pension plan assets:



				Fair value measurements as of December 31, 2013
	Total at December 31, 2013			Quoted prices in active markets (Level 1)			Significant observable inputs (Level 2)			Significant unobservable inputs (Level 3)
Cash and cash equivalents
Cash	$	127.5		$	127.5		$	—		$	—
Trades awaiting settlement	25.9			25.9			—			—
Bank deposits, short-term bills and notes	33.8			—			33.8			—
Debt
Government securities	790.4			—			790.4			—
Corporate debt securities	438.7			—			438.1			0.6
Interest and inflation linked assets	1,100.6			—			1,073.4			27.2
Collateralized debt securities	5.0			—			—			5.0
Other debt securities	—			—			—			—
Equities
Common stock	712.3			711.4			0.9			—
Other equity securities	6.4			6.4			—			—
Investment funds
Debt funds	325.0			—			196.2			128.8
Equity funds	515.6			—			515.6			—
Real estate funds	43.6			—			—			43.6
Hedge funds of funds	339.5			—			112.8			226.7
Other
Repurchase agreements	(917.5		)	(917.5		)	—			—
Credit default swaps	(5.0		)	—			(5.0		)	—
Private equity	53.3			—			—			53.3
Recoverable taxes	0.8			0.8			—			—
Venture capital	0.3			—			—			0.3
Total	$	3,596.2		$	(45.5	)	$	3,156.2		$	485.5



				Fair value measurements as of December 29, 2012
	Total at December 29, 2012			Quoted prices in active markets (Level 1)			Significant observable inputs (Level 2)			Significant unobservable inputs (Level 3)
Cash and cash equivalents
Cash	$	108.2		$	108.2		$	—		$	—
Trades awaiting settlement	5.4			5.4			—			—
Bank deposits, short-term bills and notes	36.4			—			36.4			—
Debt
Government securities	837.2			—			837.2			—
Corporate debt securities	536.8			—			536.8			—
Interest and inflation linked assets	171.6			—			205.7			(34.1		)
Collateralized debt securities	4.3			—			—			4.3
Other debt securities	—			—			—			—
Equities
Common stock	583.7			581.7			—			2.0
Other equity securities	1.2			1.2			—			—
Investment funds
Debt funds	273.7			—			157.5			116.2
Equity funds	499.7			7.8			491.9			—
Real estate funds	55.9			—			—			55.9
Hedge funds of funds	321.9			—			101.7			220.2
Other
Repurchase agreements	(98.1		)	(98.1		)	—			—
Credit default swaps	(13.5		)	—			(13.5		)	—
Private equity	28.4			—			—			28.4
Recoverable taxes	0.5			0.5			—			—
Venture capital	0.5			—			—			0.5
Total	$	3,353.8		$	606.7		$	2,353.7		$	393.4

Fair Value: Level Three Rollforward

The following presents our Level 3 Rollforward for our defined pension plan assets.



	Amount
	(In millions)
Balance at December 31, 2011	$	334.9
Total gain or loss (realized/unrealized):
Realized gain (loss)	(1.0		)
Unrealized gain (loss) included in AOCI	(23.0		)
Purchases, issuances, settlements	68.5
Transfers in/(out) of Level 3	—
Foreign exchange translation (loss)/gain	14.0
Balance at December 29, 2012	$	393.4
Total gain or loss (realized/unrealized):
Realized gain (loss)	5.9
Unrealized gain (loss) included in AOCI	63.1
Purchases, issuances, settlements	7.0
Transfers in/(out) of Level 3	1.9
Foreign exchange translation loss	14.2
Balance at December 31, 2013	$	485.5

Expected Cash Flows

In 2014, we expect to make contributions to our defined benefit pension plans totaling approximately $20 million to $40 million and benefit payments for our OPEB plans of approximately $10 million. MillerCoors, BRI and BDL contributions to their respective defined benefit pension plans are excluded here, as they are not consolidated in our financial statements. Plan funding strategies are influenced by employee benefits, tax laws and plan governance documents.

Expected future benefit payments for defined benefit pension and OPEB plans, based on foreign exchange rates at December 31, 2013, are as follows:



Expected benefit payments	Pension		OPEB
	(In millions)
2014	$	207.1	$	8.6
2015	$	211.3	$	8.4
2016	$	215.4	$	8.8
2017	$	218.7	$	9.2
2018	$	221.7	$	9.4
2019-2023	$	1,226.4	$	57.3

Defined Contribution Plans

We offer defined contribution pension plans for the majority of our Canadian, U.S. and U.K. employees. The investment strategy for defined contribution plans are determined by each individual participant. The employer contributions to the U.K. and Canadian plans range from 3% to 8.5% of employee compensation. U.S. employees are eligible to participate in the Molson Coors Savings and Investment Plan, a qualified defined contribution plan, which provides for employer contributions ranging from 5% to 9% of our hourly and salaried employees' compensation (certain employees are also eligible for additional employer contributions). Both employee and employer contributions were made in cash in accordance with participant investment elections.

We recognized costs associated with defined contribution plans of $20.5 million, $23.0 million and $27.6 million in 2013, 2012 and 2011, respectively.

We have a nonqualified defined contribution plan for certain U.S. employees. MCBC has voluntarily funded these liabilities through a Rabbi Trust. These are company assets which are invested in publicly traded mutual funds whose performance is expected to closely match changes in the plan liabilities. As of December 31, 2013, and December 29, 2012, the plan liabilities were equal to the plan assets noted in the table below and were included in other assets and other liabilities on our consolidated balance sheets, respectively.

Fair Value Hierarchy

The following presents our fair value hierarchy for our corporate invested plan assets used in the aforementioned "Rabbi Trust" arrangements.



			Fair value measurements as of December 31, 2013
	Total at December 31, 2013		Quoted prices in active markets (Level 1)		Significant observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Equities
Mutual funds	$	3.9	$	3.9	$	—	$	—
Total—Corporate	$	3.9	$	3.9	$	—	$	—



			Fair value measurements as of December 29, 2012
	Total at December 29, 2012		Quoted prices in active markets (Level 1)		Significant observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Equities
Mutual funds	$	3.1	$	3.1	$	—	$	—
Total—Corporate	$	3.1	$	3.1	$	—	$	—