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56
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The fair values of investments by level and asset category and the weighted–average asset allocations for our domestic pension plans at the
measurement date are presented in the following table (in millions):
The change in fair value of Level 3 assets that use significant unobservable inputs is shown in the table below (in millions):
Plan Assets at Measurement Date
2011
Asset Class Fair Value Actual % Target %
Quoted Prices in
Active Markets
Level 1
Other Observable
Inputs
Level 2
Unobservable
Inputs
Level 3
Cash and cash equivalents $ 409 3 % 1 % $ 107 $ 302
Domestic equities
U.S. large cap equity 4,280 27 24 26 4,254
U.S. SMID cap equity 1,481 10 9 1,481
International equities 2,013 13 12 1,702 311
Private equities 403 3 5 $ 403
Fixed income securities 49
Corporate 3,794 24 3,794
U.S. government 3,135 20 3,135
Mortgage backed and other 66 – 66
Other (63) – – (59) (4)
$ 15,518 100 % 100 % $ 3,257 $ 11,858 $ 403
2010
Asset Class Fair Value Actual % Target %
Quoted Prices in
Active Markets
Level 1
Other Observable
Inputs
Level 2
Unobservable
Inputs
Level 3
Cash and cash equivalents $ 427 3 % 1 % $ 145 $ 282
Domestic equities
U.S. large cap equity 3,374 26 24 3,374
U.S. SMID cap equity 1,195 9 9 1,195
International equities 1,502 12 12 1,262 240
Private equities 399 3 5 $ 399
Fixed income securities 49
Corporate 3,546 27 3,546
U.S. government 2,537 19 2,537
Mortgage backed and other 122 1 122
Other (47) – – (46) (1)
$ 13,055 100 % 100 % $ 2,556 $ 10,100 $ 399
Beginning balance May 31, 2009 $ 341
Actual return on plan assets:
Assets held at May 31, 2010 38
Assets sold during the year 24
Purchases, sales and settlements (4)
Balance at May 31, 2010 399
Actual return on plan assets:
Assets held at May 31, 2011 27
Assets sold during the year 36
Purchases, sales and settlements (59)
Ending balance May 31, 2011 $ 403