Coca Cola 2014 Annual Report Download - page 128
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126
Pension Plan Assets
The following table summarizes the levels within the fair value hierarchy for our pension plan assets as of December 31, 2014 and 2013
(in millions):
December 31, 2014 December 31, 2013
Level 1 Level 2 Level 3
T
otal
Level 1 Level 2 Level 3 T
otal
Cash and cash
equivalents
$ 161 $ 100 $ — $ 261 $ 331 $ 183 $ — $ 514
Equity
securities:
U.S.-based
companies
1,793 6 17 1,816 1,680 7 15 1,702
International-based
companies
1,050 13 — 1,063 1,271 13 — 1,284
Fixed-income
securities:
Government bonds — 863 3 866 — 719 49 768
Corporate bonds and debt
securities
— 1,533 33 1,566 — 1,466 40 1,506
Mutual, pooled and commingled funds 98 1,134 31 1,263 56 1,531 — 1,587
Hedge funds/limited
partnerships
— 215 584 799 — 190 353 543
Real
estate
— 16 392 408 — — 251 251
Other — 14 8461860 — 7 5841591
T
otal
$ 3,102 $ 3,894 $ 1,906 $ 8,902 $ 3,338 $ 4,116 $ 1,292 $ 8,746
1
Includes purchased annuity contracts and insurance-linked securities.
The following table provides a reconciliation of the beginning and ending balance of Level 3 assets for our U.S. and non-U.S. pension
plans for the years ended December 31, 2014 and 2013 (in millions):
Fixed-
Income
Securities
Hedge
Funds/Limited
Partnerships
Real
Estate
Equity
Securities
Mutual,
Pooled and
Commingled
Funds Other Total
2013
Balance at beginning of year $ — $ 400 $ 257 $ 14 $ — $ 510 $ 1,181
Actual return on plan assets:
Related to assets still held at the reporting date (4) (6) 13 — — 39 42
Related to assets sold during the year (2) 24 6 — — — 28
Purchases, sales and settlements — net 95 14 (24) 1 — 193 279
Transfers in or out of Level 3 — net — (78) — — — (172) (250 )
Foreign currency translation — (1) (1) — — 14 12
Balance at end of year $ 89 $ 353 $ 251 $ 15 $ — $ 5841$ 1,292
2014
Balance at beginning of year $ 89 $ 353 $ 251 $ 15 $ —$ 584 $ 1,292
Actual return on plan assets:
Related to assets still held at the reporting date 17 (17 ) 29 1 — 50 80
Related to assets sold during the year (2 ) 42 7 — — — 47
Purchases, sales and settlements — net (41) 198 106 1 31 241 536
Transfers in or out of Level 3 — net (27) 9 — — — — (18)
Foreign currency translation — (1 ) (1 ) — — (29) (31)
Balance at end of year $ 36 $ 584 $ 392 $ 17 $ 31 $ 8461$ 1,906
1
Includes purchased annuity contracts and insurance-linked securities.