Energy Transfer 2013 Annual Report Download - page 209
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Table of Contents
The fair value of the pension plan assets by asset category at the dates indicated is as follows:
Fair Value Measurements at December 31, 2013 Using Fair
Value Hierarchy
Fair Value as of December 31,
2013
Level 1
Level 2
Level 3
Asset category:
Cash and cash equivalents $ 12
$ 12
$ —
$ —
Mutual funds(1) 368
—
281
87
Fixed income securities 220
—
220
—
Total $600
$ 12
$ 501
$ 87
(1) Primarily comprised of approximately 66% equities, 10% fixed income securities, and 24% in other investments as of December 31, 2013.
Fair Value Measurements at December 31, 2012 Using Fair
Value Hierarchy
Fair Value as of December 31,
2012
Level 1
Level 2
Level 3
Asset category:
Cash and cash equivalents $25
$25
$ —
$ —
Mutual funds(1) 516
—
433
83
Fixed income securities 354
—
354
—
Multi-strategy hedge funds(2) 11
—
11
—
Total $906
$25
$798
$83
(1) Primarily comprised of approximately 36% equities, 54% fixed income securities, and 10% in other investments as of December 31, 2012.
(2) Primarily includes hedge funds that invest in multiple strategies, including relative value, opportunistic/macro, long/short equities, merger
arbitrage/event driven, credit, and short selling strategies, to generate long-term capital appreciation through a portfolio having a diversified risk
profile with relatively low volatility and a low correlation with traditional equity and fixed-income markets. These investments can generally be
redeemed effective as of the last day of a calendar quarter at the net asset value per share of the investment with approximately 65 days prior written
notice.
The fair value of other postretirement plan assets by asset category at the dates indicated is as follows:
Fair Value Measurements at December 31, 2013 Using Fair
Value Hierarchy
Fair Value as of December 31,
2013
Level 1
Level 2
Level 3
Asset category:
Cash and cash equivalents $10
$10
$ —
$ —
Mutual funds(1) 130
112
18
—
Fixed income securities 144
—
144
—
Total $284
$ 122
$162
$ —
(1) Primarily comprised of approximately 41% equities, 48% fixed income securities, 6% cash, and 5% in other investments as of December 31, 2013.
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