General Motors 2010 Annual Report Download - page 216

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following tables summarize the fair value of the underlying net assets by asset class held by the investment accounts owned by
the Investment Trusts (dollars in millions):
Successor
Fair Value Measurements of Investment
Trust Underlying Assets
at December 31, 2010 (a)
Level 1 Level 2 Level 3 Total
Assets
Cash equivalents and other short-term investments ................................. $ — $ 6,920 $ — $ 6,920
Common and preferred stocks .................................................. 6,756 788 64 7,608
Government and agency debt securities (b) ....................................... — 5,402 75 5,477
Corporate debt securities (c) ................................................... — 8,252 562 8,814
Agency mortgage and asset-backed securities ..................................... — 476 — 476
Non-agency mortgage and asset-backed securities .................................. — 1,863 831 2,694
Group annuity contracts ...................................................... — — 3,115 3,115
Investment funds
Equity funds .............................................................. 20 436 382 838
Fixed income funds ........................................................ 48 543 2,287 2,878
Funds of hedge funds ....................................................... — 516 6,344 6,860
Global macro funds ........................................................ — 111 4 115
Multi-strategy funds ....................................................... — 2,080 3,566 5,646
Other investment funds ..................................................... — 150 188 338
Private equity and debt investments ............................................. — — 8,297 8,297
Real estate assets (d) ......................................................... 1,648 1 5,792 7,441
Derivatives ................................................................. 73 1,407 24 1,504
Total assets ................................................................ 8,545 28,945 31,531 69,021
Liabilities
Common and preferred stocks (e) ............................................... (1,287) (121) — (1,408)
Debt securities (e) ........................................................... — — (2) (2)
Real estate assets (e) ......................................................... (41) — — (41)
Derivatives ................................................................. (184) (2,441) (83) (2,708)
Total liabilities .............................................................. (1,512) (2,562) (85) (4,159)
Total net assets ............................................................. $7,033 $26,383 $31,446 $64,862
(a) Underlying assets are reported at the overall trust level, which includes our plan assets as well as plan assets of non-affiliated
plan sponsors.
(b) Includes U.S. and sovereign government and agency issues; excludes mortgage and asset-backed securities.
(c) Includes bank debt obligations.
(d) Includes public real estate investment trusts.
(e) Primarily investments sold short.
214 General Motors Company 2010 Annual Report