GE 2014 Annual Report Download - page 196

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176 GE 2014 FORM 10-K
FINANCIAL STATEMENTS POSTRETIREMENT BENEFIT PLANS
The following tables present the changes in Level 3 investments for the GE Pension Plan.
CHANGES IN LEVEL 3 INVESTMENTS FOR THE YEAR ENDED DECEMBER 31, 2014
Purchases, Transfers
issuances in and/o
r
January 1, Net realized Net unrealized and out o
f
December 31,
(In millions) 2014 gains (losses)(a) gains (losses) (a) settlements Level 3(b) 2014
Debt securities $ - $ (9) $ 11 $ 4 $ - $ 6
Private equities 6,269 592 (54) (1,565) (25) 5,217
Real estate 3,354 36 334 (595) - 3,129
Other investments 1,622 47 86 194 299 2,248
$ 11,245 $ 666 $ 377 $ (1,962) $ 274 $ 10,600
(a) The realized/unrealized gains (losses) include $899 million related to assets still held and $144 million for assets no longer held.
(b) Transfers in and out of Level 3 are considered to occur at the beginning of the period.
CHANGES IN LEVEL 3 INVESTMENTS FOR THE YEAR ENDED DECEMBER 31
,
2013
Purchases, Transfers
issuances in and/o
r
January 1, Net realized Net unrealized and out o
f
December 31,
(In millions) 2013 gains (losses)(a) gains (losses) (a) settlements Level 3 (b) 2013
Debt securities $ 75 $ (7) $ - $ (65) $ (3) $ -
Private equities 6,878 525 588 (1,675) (47) 6,269
Real estate 3,356 23 330 (355) - 3,354
Other investments 1,694 (1) 200 (77) (194) 1,622
$ 12,003 $ 540 $ 1,118 $ (2,172) $ (244) $ 11,245
(a) The realized/unrealized gains (losses) include $1,616 million related to assets still held and $42 million for assets no longer held.
(b) Transfers in and out of Level 3 are considered to occur at the beginning of the period.
Other pension plans’ assets were $12,386 million and $11,059 million at December 31, 2014 and 2013, respectively. Public
equity and debt securities amounting to $10,578 million and $9,781 million represented approximately 86% and 89% of total
investments at December 31, 2014 and 2013, respectively. The plans’ investments were classified as 9% Level 1, 77% Level
2 and 14% Level 3 at December 31, 2014. The plans’ investments were classified as 11% Level 1, 78% Level 2 and 11%
Level 3 at December 31, 2013. The changes in Level 3 investments between the years ended December 31, 2014 and 2013
were primarily due to investments in hedge funds and real estate. Other changes in Level 3 investments were insignificant for
the years ended December 31, 2014 and 2013.