Bank of America 2012 Annual Report Download - page 250

248 Bank of America 2012
The Level 3 Fair Value Measurements table presents a reconciliation of all plan investment assets measured at fair value using
significant unobservable inputs (Level 3) during 2012, 2011 and 2010.
Level 3 Fair Value Measurements
2012
(Dollars in millions)
Balance
January 1
Actual Return on
Plan Assets Still
Held at the
Reporting Date Purchases
Sales and
Settlements
Transfers into/
(out of) Level 3
Balance
December 31
Fixed income
U.S. government and government agency securities $ 13$ —$ —$ —$ —$ 13
Non-U.S. debt securities 10 (1) 1 (1) 1 10
Real estate
Private real estate 113 (2) 2 (3) —110
Real estate commingled/mutual funds 249 13 62 — —324
Limited partnerships 232 8 11 (20) —231
Other investments 122 7 4 (4) —129
Total $ 739 $ 25 $ 80 $ (28) $ 1 $ 817
2011
Fixed income
U.S. government and government agency securities $ 14 $ (1) $ —$ —$ —$ 13
Non-U.S. debt securities 9 — 3 (2) — 10
Real estate
Private real estate 110 — 3 — — 113
Real estate commingled/mutual funds 215 26 9 (1) — 249
Limited partnerships 230 (6) 13 (5) — 232
Other investments 94 1 26 — 1 122
Total $ 672 $ 20 $ 54 $ (8) $ 1 $ 739
2010
Fixed income
U.S. government and government agency securities $ —$ —$ —$ —$ 14 $ 14
Non-U.S. debt securities 6 1 — — 2 9
Real estate
Private real estate 119 (9) 1 (1) — 110
Real estate commingled/mutual funds 195 (4) 24 — — 215
Limited partnerships 162 13 7 (5) 53 230
Other investments 188 — 18 (1) (111) 94
Total $ 670 $ 1$ 50 $ (7) $ (42) $ 672
Projected Benefit Payments
Benefit payments projected to be made from the Qualified Pension Plans, Non-U.S. Pension Plans, Nonqualified and Other Pension
Plans, and Postretirement Health and Life Plans are presented in the table below.
Projected Benefit Payments
Postretirement Health and Life Plans
(Dollars in millions)
Qualified
Pension Plans (1)
Non-U.S.
Pension Plans (2)
Nonqualified
and Other
Pension Plans (2) Net Payments (3)
Medicare
Subsidy
2013 $ 887 $ 63 $ 234 $ 147 $ 18
2014 931 67 238 147 18
2015 913 68 239 145 18
2016 900 73 240 141 18
2017 888 76 237 136 17
2018 – 2022 4,329 455 1,133 595 80
(1) Benefit payments expected to be made from the plans’ assets.
(2) Benefit payments expected to be made from a combination of the plans’ and the Corporation’s assets.
(3) Benefit payments (net of retiree contributions) expected to be made from a combination of the plans’ and the Corporation’s assets.