Bank of America 2010 Annual Report Download - page 221

Fair Value Measurements
For information on fair value measurements, including descriptions of Level 1, 2 and 3 of the fair value hierarchy and the valuation methods employed bythe
Corporation, see Note 1 – Summary of Significant Accounting Principles and Note 22 – Fair Value Measurements.
Plan investment assets measured at fair value by level and in total at December 31, 2010 and 2009 are summarized in the table below.
(Dollars in millions) Level 1 Level 2 Level 3 Total
Fair Value Measurements
December 31, 2010
Cash and short-term investments
Money market and interest-bearing cash $ 1,469 $ – $ – $ 1,469
Cash and cash equivalent commingled/mutual funds –45–45
Fixed income
U.S. government and government agency securities 701 2,604 14 3,319
Corporate debt securities – 1,106 – 1,106
Asset-backed securities – 796 – 796
Non-U.S. debt securities 36 397 9 442
Fixed income commingled/mutual funds 240 1,359 – 1,599
Equity
Common and preferred equity securities 6,980 1 – 6,981
Equity commingled/mutual funds 637 2,307 – 2,944
Public real estate investment trusts – 168 – 168
Real estate
Private real estate ––110110
Real estate commingled/mutual funds 30 2 215 247
Limited partnerships – 101 230 331
Other investments
(1)
19 258 83 360
Total plan investment assets, at fair value $10,112 $9,144 $661 $19,917
December 31, 2009
Cash and short-term investments
Money market and interest-bearing cash $ 1,311 $ – $ – $ 1,311
Cash and cash equivalent commingled/mutual funds – 18 – 18
Fixed income
U.S. government and government agency securities 1,460 1,422 – 2,882
Corporate debt securities 22 1,279 – 1,301
Asset-backed securities – 1,116 – 1,116
Non-U.S. debt securities 278 601 6 885
Fixed income commingled/mutual funds 57 1,202 – 1,259
Equity
Common and preferred equity securities 6,077 – – 6,077
Equity commingled/mutual funds 697 2,026 – 2,723
Public real estate investment trusts – 116 – 116
Real estate
Private real estate ––119119
Real estate commingled/mutual funds 23 – 195 218
Limited partnerships – 91 162 253
Other investments
(1)
1 20 188 209
Total plan investment assets, at fair value $ 9,926 $7,891 $670 $18,487
(1)
Other investments represent interest rate swaps of $198 million and $110 million, participant loans of $79 million and $74 million, commodity and balanced funds of $44 million and $14 million and other various investments of
$39 million and $11 million at December 31, 2010 and 2009.
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