Windstream 2013 Annual Report Download - page 204
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
____
F-68
8. Employee Benefit Plans and Postretirement Benefits, Continued:
The fair values of our pension plan assets were determined using the following inputs as of December 31, 2013:
Quoted Price in
Active
Markets for
Identical Assets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
(Millions) Fair
Value Level 1 Level 2 Level 3
Money market funds (a) $ 37.0 $ — $ 37.0 $ —
Guaranteed annuity contract (b) 1.9 — — 1.9
Common collective trust funds (c) 383.1 — 383.1 —
Government and agency securities (d) 234.4 — 234.4 —
Corporate bonds and asset backed securities (d) 94.5 — 94.5 —
Domestic equities (d) 69.4 69.3 — 0.1
Windstream common stock (d) 26.3 26.3 — —
International equities (d) 24.1 24.1 — —
Derivative financial instruments (e) (25.1) 0.1 (25.2) —
Hedge fund of funds (f) 60.2 — — 60.2
Real estate and private equity funds (g) 52.8 — — 52.8
Other (h) 1.1 1.1 — —
Total investments $ 959.7 $ 120.9 $ 723.8 $ 115.0
Dividends and interest receivable 3.9
Pending trades (3.9)
Total plan assets $ 959.7
The fair values of our pension plan assets were determined using the following inputs as of December 31, 2012:
Quoted Price in
Active
Markets for
Identical Assets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
(Millions) Fair
Value Level 1 Level 2 Level 3
Money market funds (a) $ 280.2 $ — $ 280.2 $ —
Guaranteed annuity contract (b) 2.3 — — 2.3
Common collective trust funds (c) 81.7 — 81.7 —
Government and agency securities (d) 141.6 — 141.6 —
Corporate bonds and asset backed securities (d) 92.5 — 92.5 —
Domestic equities (d) 273.4 272.7 0.6 0.1
International equities (d) 84.0 84.0 — —
Derivative financial instruments (e) (0.1) — (0.1) —
Real estate and private equity funds (g) 44.4 — — 44.4
Other (h) 2.1 2.1 — —
Total investments $ 1,002.1 $ 358.8 $ 596.5 $ 46.8
Dividends and interest receivable 3.4
Pending trades (6.5)
Total plan assets $ 999.0
(a) Valued based on the fair value of the underlying assets of the fund as determined by the fund manager on the last
business day of the year. The underlying assets are mostly comprised of certificates of deposit, time deposits and
commercial paper valued at amortized cost.