Coca Cola 2015 Annual Report Download - page 134
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Pension Plan Assets
The following table summarizes the levels within the fair value hierarchy for our pension plan assets as of December 31, 2015 and 2014 (in millions):
December 31, 2014
Level 1
Level 2
Level 3
Total
Cash and cash equivalents
$ 161
$ 100
$ —
$ 261
Equity securities:
U.S.-based companies
1,793
6
17
1,816
International-based companies
1,050
13
—
1,063
Fixed-income securities:
Government bonds
—
863
3
866
Corporate bonds and debt securities
—
1,533
33
1,566
Mutual, pooled and commingled funds
98
1,134
31
1,263
Hedge funds/limited partnerships
—
215
584
799
Real estate
—
16
392
408
Other
—
14
846 1 860
Total
$ 3,102
$ 3,894
$ 1,906
$ 8,902
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, 2015 and 2014 (in millions):
Fixed-Income
Securities
Hedge
Funds/Limited
Partnerships
Real
Estate
Equity
Securities
Mutual,
Pooled and
Commingled
Funds
Other
Total
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
$ 846 1 $ 1,906
Balance at beginning of year
Actual return on plan assets:
Related to assets still held at the reporting date
Related to assets sold during the year
Purchases, sales and settlements — net
2
Transfers in or out of Level 3 — net
Foreign currency translation
Balance at end of year
1 Includes purchased annuity contracts and insurance-linked securities.
2 Includes the transfer of assets associated with the Company's consolidated German bottling operations to assets held for sale and liabilities held for sale as of December 31, 2015.
Refer to Note 2 for additional information.
132