Safeway 2011 Annual Report Download - page 83

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SAFEWAY INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
A reconciliation of the beginning and ending balances for Level 3 assets for the year ended December 31, 2011 follows
(in millions):
Fair Value Measured Using Significant
Unobservable Inputs (Level 3)
Total
Corporate
bonds
U.S.
government
securities
Balance, beginning of year $ 3.8 $ 3.1 $ 0.7
Purchases, sales, settlements, net (0.5) 0.1 (0.6)
Unrealized gains (0.5) (0.5) –
Balance, end of year $ 2.8 $ 2.7 $ 0.1
The fair value of Safeway’s pension plan assets at January 1, 2011, excluding pending transactions of $24.4 million, by
asset category are as follows (in millions):
Fair Value Measurements
Asset category: Total
Quoted prices in
active markets
for identical
assets
(Level 1)
Significant
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3)
Cash and cash equivalents (1) $ 11.1 $ 10.4 $ 0.7 $ –
Short-term investment collective trust (2) 35.0 – 35.0 –
Common and preferred stock: (3)
Domestic common and preferred stock 485.4 484.8 0.6 –
International common stock 42.1 42.1 – –
Common collective trust funds (2) 705.3 – 705.3 –
Corporate bonds (4) 90.1 – 87.0 3.1
Mortgage- and other-asset backed securities (5) 47.8 – 47.8 –
Mutual funds (6) 32.8 32.8 – –
U.S. government securities (7) 202.3 – 201.6 0.7
Other securities (8) 24.7 – 24.7 –
Total $1,676.6 $570.1 $1,102.7 $3.8
Valuation techniques are described earlier in this note. See Note F for a discussion of levels.
65