Citibank 2014 Annual Report Download - page 194

177
Level 3 Roll Forward
The reconciliations of the beginning and ending balances during the year for Level 3 assets are as follows:
In millions of dollars U.S. pension and postretirement benefit plans
Asset categories
Beginning Level 3
fair value at
Dec. 31, 2013
Realized
gains
(losses)
Unrealized
gains
(losses)
Purchases,
sales, and
issuances
Transfers in
and/or out of
Level 3
Ending Level 3
fair value at
Dec. 31, 2014
Hedge funds $1,126 $ 63 $ (25) $(264) $(169) $ 731
Annuity contracts 91 — (1) (31) — 59
Private equity 2,106 241 (187) (529) — 1,631
Other investments 150 (1) (5) 109 7 260
Total investments $3,473 $ 303 $(218) $ (715) $(162) $ 2,681
Other investment receivables 52 — — (17) — 35
Total assets $3,525 $ 303 $ (218) $(732) $ (162) $2,716
In millions of dollars U.S. pension and postretirement benefit plans
Asset categories
Beginning Level 3
fair value at
Dec. 31, 2012
Realized
gains
(losses)
Unrealized
gains
(losses)
Purchases,
sales, and
issuances
Transfers in
and/or out of
Level 3
Ending Level 3
fair value at
Dec. 31, 2013
Hedge funds $1,524 $ 45 $ 69 $ 19 $(531) $ 1,126
Annuity contracts 130 — (9) (33) 3 91
Private equity 2,419 264 (10) (564) (3) 2,106
Other investments 142 — 7 8 (7) 150
Total investments $4,215 $ 309 $ 57 $ (570) $ (538) $ 3,473
Other investment receivables 24 — — 28 — 52
Total assets $4,239 $ 309 $ 57 $(542) $(538) $ 3,525
In millions of dollars Non-U.S. pension and postretirement benefit plans
Asset categories
Beginning Level 3
fair value at
Dec. 31, 2013
Unrealized
gains
(losses)
Purchases,
sales, and
issuances
Transfers in
and/or out of
Level 3
Ending Level 3
fair value at
Dec. 31, 2014
Equity securities
Non-U.S. equity $ 49 $ (3) $ — $ (1) $ 45
Debt securities
Non-U.S. government debt — — — 1 1
Non-U.S. corporate bonds 5 — 1 (1) 5
Hedge funds 11 (1) — — 10
Annuity contracts 32 — — — 32
Other investments 202 (1) (33) (5) 163
Total investments $ 299 $ (5) $(32) $ (6) $ 256
Cash and short-term investments — — — — —
Total assets $ 299 $ (5) $(32) $ (6) $ 256
In millions of dollars Non-U.S. pension and postretirement benefit plans
Asset categories
Beginning Level 3
fair value at
Dec. 31, 2012
Unrealized
gains
(losses)
Purchases,
sales, and
issuances
Transfers in
and/or out of
Level 3
Ending Level 3
fair value at
Dec. 31, 2013
Equity securities
Non-U.S. equity $ 48 $ 5 $ — $ (4) $ 49
Debt securities
Non-U.S. government bonds 4 — — (4) —
Non-U.S. corporate bonds 4 (1) 2 — 5
Hedge funds 16 1 (6) — 11
Annuity contracts 6 3 (1) 24 32
Other investments 219 — 3 (20) 202
Total investments $297 $ 8 $ (2) $ (4) $ 299
Cash and short-term investments 3 — — (3) —
Total assets $ 300 $ 8 $ (2) $ (7) $ 299