General Motors 2012 Annual Report Download - page 137

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(e) Includes private equity investment funds.
(f) Includes investment funds and public real estate investment trusts.
(g) Primarily investments sold short.
(h) Cash held by the plans, net of amounts payable for investment manager fees, custody fees and other expenses.
The following tables summarize the activity for U.S. plan assets classified in Level 3 (dollars in millions):
Balance at
January 1,
2012
Net Realized/
Unrealized
Gains (Loss)
Purchases,
Sales and
Settlements,
Net
Transfers
Into/
Out
of Level 3
Balance at
December 31,
2012
Change in
Unrealized
Gains/(Losses)
Attributable to
Assets Held at
December 31,
2012
Assets
Common and preferred stocks ..................... $ 46 $ 1 $ (25) $ (3) $ 19 $ 3
Government and agency debt securities ............. 3 (1) (2) — — —
Corporate debt securities ......................... 352 1 (258) (18) 77 (35)
Non-agency mortgage and asset-backed securities ..... 197 34 (120) (6) 105 24
Group annuity contracts .......................... 3,209 77 (3,286) — — —
Investment funds
Equity funds ................................. 521 51 (414) 37 195 18
Fixed income funds ........................... 1,210 47 (1,067) — 190 (3)
Funds of hedge funds .......................... 5,918 310 (2,460) — 3,768 239
Global macro funds ........................... 4 — (1) 8 11 —
Multi-strategy funds ........................... 2,123 53 (1,453) 4 727 (6)
Other investment funds ........................ 143 2 (77) — 68 4
Private equity and debt investments ................ 8,444 1,022 (3,038) (28) 6,400 154
Real estate investments .......................... 5,092 198 (955) — 4,335 (80)
Other Investments .............................. — — 63 — 63 —
Total assets .................................... 27,262 1,795 (13,093) (6) 15,958 318
Derivatives, net
Interest rate contracts .......................... 7 3 (14) (4) (8) (1)
Equity contracts .............................. — 1 (1) — — —
Credit contracts .............................. (6) — 6 — — —
Total net assets ................................. $27,263 $1,799 $(13,102) $(10) $15,950 $317
General Motors Company 2012 ANNUAL REPORT134