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AT&T INC.
|
73
The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the
year ended December 31, 2015:
Fixed Private Real Estate
Income Equity and
Pension Assets Equities Funds Funds Real Assets Total
Balance at beginning of year $ — $ 444 $ 5,399 $ 4,845 $10,688
Realized gains (losses) (1) 29 426 416 870
Unrealized gains (losses) 1 (16) 132 (114) 3
Transfers in — — — 19 19
Transfers out — — (19) — (19)
Purchases — 29 436 474 939
Sales — (110) (1,448) (1,283) (2,841)
Balance at end of year $ — $376 $4,926 $4,357 $ 9,659
Fixed Private
Income Equity
Postretirement Assets Funds Funds Real Assets Total
Balance at beginning of year $ 3 $ 218 $ 96 $317
Realized gains (losses) — (16) (2) (18)
Unrealized gains (losses) — 24 (1) 23
Transfers in 15 — 25 40
Transfers out (1) — (25) (26)
Purchases — 30 1 31
Sales (1) (101) (13) (115)
Balance at end of year $16 $155 $81 $252
The following tables set forth by level, within the fair value hierarchy, the pension and postretirement assets and liabilities at
fair value as of December 31, 2014:
Pension Assets and Liabilities at Fair Value as of December 31, 2014 Level 1 Level 2 Level 3 Total
Non-interest bearing cash $ 45 $ — $ — $ 45
Interest bearing cash — 127 — 127
Foreign currency contracts — 25 — 25
Equity securities:
Domestic equities 8,613 74 — 8,687
International equities 4,805 171 — 4,976
Fixed income securities:
Asset-backed securities — 610 1 611
Mortgage-backed securities — 1,741 — 1,741
Collateralized mortgage-backed securities — 418 — 418
Collateralized mortgage obligations/REMICS — 531 — 531
Corporate and other fixed income instruments and funds 97 7,210 441 7,748
Government and municipal bonds 145 4,876 — 5,021
Private equity funds — — 5,399 5,399
Real estate and real assets — — 4,845 4,845
Commingled funds — 5,823 2 5,825
Securities lending collateral 310 3,140 — 3,450
Receivable for variation margin 6 — — 6
Purchased options 1 — — 1
Assets at fair value 14,022 24,746 10,688 49,456
Investments sold short and other liabilities at fair value (650) (260) — (910)
Total plan net assets at fair value $13,372 $24,486 $10,688 $48,546
Other assets (liabilities)1 (3,383)
Total Plan Net Assets $45,163
1 Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable.