Allstate 2011 Annual Report Download - page 261

The following table presents the fair values of pension plan assets as of December 31, 2010.
($ in millions) Quoted prices
in active Significant
markets for other Significant Balance
identical observable unobservable as of
assets inputs inputs December 31,
(Level 1) (Level 2) (Level 3) 2010
Assets
Equity securities:
U.S. $ 922 $ 216 $ 6 $ 1,144
International 688 154 — 842
Fixed income securities:
U.S. government and agencies 722 71 — 793
Foreign government — 14 — 14
Municipal — — 222 222
Corporate — 836 10 846
RMBS — 89 48 137
Short-term investments 89 574 — 663
Limited partnership interests:
Real estate funds (1) — — 167 167
Private equity funds (2) — — 166 166
Hedge funds (3) — — 373 373
Cash and cash equivalents 33 — — 33
Free-standing derivatives:
Assets — 9 — 9
Liabilities (2) — — (2)
Total plan assets at fair value $ 2,452 $ 1,963 $ 992 5,407
% of total plan assets at fair value 45.4% 36.3% 18.3% 100.0%
Securities lending obligation (4) (772)
Other net plan assets (5) 34
Total reported plan assets $ 4,669
(1) Real estate funds held by the pension plans are primarily invested in U.S. commercial real estate.
(2) Private equity funds held by the pension plans are primarily comprised of North American buyout funds.
(3) Hedge funds held by the pension plans primarily comprise fund of funds investments in diversified pools of capital across
funds with underlying strategies such as convertible arbitrage, equity market neutral, fixed income arbitrage, global macro,
commodity trading advisors, long short equity, short biased equity, and event driven strategies.
(4) The securities lending obligation represents the plan’s obligation to return securities lending collateral received under a
securities lending program. The terms of the program allow both the plan and the counterparty the right and ability to
redeem/return the securities loaned on short notice. Due to its relatively short-term nature, the outstanding balance of the
obligation approximates fair value.
(5) Other net plan assets represent interest and dividends receivable and net receivables related to settlements of investment
transactions, such as purchases and sales.
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Notes