Group Management Report Corporate Governance Environment, Safety, and Corporate Social Responsibility Consolidated Financial Statements 121 The following table shows the fair values of the plan assets per category: Dec. 31, 2014 Dec. 31, 2015 Price quotation in an active market No price quotation in an active market Total Price quotation in an active market No price quotation in an active market Total Bonds 12,333 12,333 13,888 13,888 Money market funds 672 672 2,591 2,591 Mixed funds 44,504 44,504 51,161 51,161 Shares 8,670 8,670 9,466 9,466 Insurances 14,883 14,883 14,212 14,212 Cash and cash equivalents 57 57 207 207 Other 124 124 151 151 Fair value of plan assets 66,236 15,007 81,243 77,313 14,363 91,676 The domestic plan assets mainly comprise money market funds and mixed funds, while the foreign plan assets are mainly composed of shares, debt instruments and insurances. ALTANA aims to hedge future payments under the pension obligation with long-term returns from the portfolio of the plan assets. Therefore, the composition of the plan assets is geared to the sustainability of the income generated by increases in market values of the assets as well as dividends and interest income. The actual return on the plan assets was € 2.2 million and € 9.6 million for 2015 and 2014, respectively. Plan assets do not include ALTANA shares or any property or other assets used by the Company. In 2016, the Company expects to pay benefits of € 7.7 million to retirees compared to expected payments from plan assets of € 2.9 million. At December 31, 2014, the Company expected to pay benefits of € 6.8 million to retirees in 2015, compared to expected payments from plan assets of € 2.4 million. Contributions to plan assets by the employer are expected to be paid in an amount of € 6.9 million in 2016 compared to € 5.5 million in 2015. The ex- pected expense for defined benefit plans for 2016 is estimated to amount to € 15.9 million compared to € 16.1 million in 2015 including net interest expenses. As of December 31, 2015 and 2014 the weighted average duration of the German, Dutch and U.S. employee benefit obligation is 19 years and 20 years, respectively.
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