Fluor 2014 Annual Report Download - page 118
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FLUOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Non-U.S. Pension Plans
December 31, 2014 December 31, 2013
Fair Value Hierarchy Fair Value Hierarchy
(in thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3
Assets:
Equity securities:
Common and preferred stock $ 54,890 $54,890 $ — $ — $ 71,567 $71,567 $ — $ —
Common or collective trusts 200,701 — 200,701 — 228,608 — 228,608 —
Debt securities:
Common or collective trusts 378,569 — 378,569 — 321,086 — 321,086 —
Corporate bonds 149,152 — 149,152 — 107,658 — 107,658 —
Government securities 195,305 — 195,305 — 160,586 — 160,586 —
Other:
Common or collective trusts 37,092 — 30,441 6,651 48,409 — 40,667 7,742
Other assets 13,006 — 13,006 — 2,634 — 2,634 —
Liabilities:
Foreign currency contracts and other (11,038) — (11,038) — (3,979) — (3,979) —
Plan assets measured at fair value, net $1,017,677 $54,890 $956,136 $6,651 $936,569 $71,567 $857,260 $7,742
Plan assets not measured at fair value,
net 14,456 9,268
Total plan assets, net $1,032,133 $945,837
The following table presents a reconciliation of the beginning and ending balances of the fair value
measurements using significant unobservable inputs (Level 3):
Non-U.S.
U.S. Pension Plan Pension Plans
(in thousands) 2014 2013 2014 2013
Balance at beginning of year $17,546 $17,630 $7,742 $7,800
Actual return on plan assets:
Assets still held at reporting date (2,454) 418 (886) (58)
Assets sold during the period 124 357 3 —
Purchases — — — —
Sales (2,823) (859) (208) —
Settlements — — — —
Balance at end of year $12,393 $17,546 $6,651 $7,742
F-25