Allegheny Power 2014 Annual Report Download - page 93
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78
As of December 31, 2014 and 2013, the OPEB trust investments measured at fair value were as follows:
December 31, 2014 Asset
AllocationLevel 1 Level 2 Level 3 Total
(In millions)
Cash and short-term securities $ — $ 41 $ — $ 41 9%
Equity investment
Domestic 230 — — 230 48%
International 3 3 — 6 1%
Fixed income
U.S. treasuries — 41 — 41 9%
Government bonds — 110 — 110 23%
Corporate bonds — 32 — 32 7%
High yield debt — 2 — 2 —%
Mortgage-backed securities (non-
government) — 3 — 3 1%
Alternatives
Hedge funds — 5 — 5 1%
Real estate funds — — 3 3 1%
Total (1) $ 233 $ 237 $ 3 $ 473 100%
(1) Excludes $(9) million as of December 31, 2014 of receivables, payables, taxes and accrued income associated with financial instruments
reflected within the fair value table.
December 31, 2013 Asset
AllocationLevel 1 Level 2 Level 3 Total
(In millions)
Cash and short-term securities $ — $ 47 $ — $ 47 9%
Equity investment
Domestic 227 — — 227 45%
International 4 2 — 6 1%
Mutual funds 5 — — 5 1%
Fixed income
U.S. treasuries — 44 — 44 9%
Government bonds — 91 — 91 18%
Corporate bonds — 59 — 59 12%
Mortgage-backed securities (non-
government) — 3 — 3 1%
Alternatives
Hedge funds — 17 — 17 3%
Real estate funds — — 5 5 1%
Total (1) $ 236 $ 263 $ 5 $ 504 100%
(1) Excludes $(9) million as of December 31, 2013, of receivables, payables, taxes and accrued income associated with financial instruments
reflected within the fair value table.