Allegheny Power 2010 Annual Report Download - page 87

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72
December 31, 2009 Asset
Level 1 Level 2 Level 3 Total Allocation
(In millions)
Cash and short-term securities $ - $ 337 $ - $ 337 7 %
Equity investments
Domestic 447 790 - 1,237 28 %
International 131 204 - 335 8 %
Mutual funds 159 - - 159 4 %
Fixed income
Government bonds - 254 - 254 6 %
Corporate bonds - 1,580 - 1,580 35 %
Distressed debt - 92 - 92 2 %
Mortgaged-backed securities
(non-government) - 2 - 2 1 %
A
lternatives
Private equity funds - - 137 137 3 %
Real estate funds 1 4 241 246 6 %
$ 738 $ 3,263 $ 378 $ 4,379 100 %
The following table provides a reconciliation of changes in the fair value of pension investments classified as Level 3 in
the fair value hierarchy during 2010 and 2009:
Private Equity Real Estate
Funds Funds
Balance as of January 1, 2009 $ 74 $ 342
A
ctual return on plan assets:
Unrealized gains (losses) 6 (104)
Realized gains (losses) 1 (1)
Purchases, sales and settlements 12 4
Transfers in (out) 44 -
Balance as of December 31, 2009 137 241
A
ctual return on plan assets:
Unrealized gains 1 45
Realized gains (losses) 11 (3)
Purchases, sales and settlements (28) (1)
Transfers in (out) (2) -
Balance at December 31, 2010 $ 119 $ 282