Frontier Communications 2012 Annual Report Download - page 100

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($ in thousands)
Fair
Value
Redemption
Frequency
Redemption
Notice Period
Liquidation
Period
Commingled Funds
JPM Multi-Strat II C-A Ser 11-07(a) ...... $ 39,814 Quarterly 65 Days NA
Interest in Limited Partnerships
Morgan Stanley Institutional Cayman
Fund LP(b) ............................ 33,535 Quarterly 60 Days NA
MS IFHF SVP LP Cayman(b) ............ 4,649 Through liquidation of
underlying investments
None 2 years
MS IFHF SVP LP Alpha(b) .............. 2,523 Through liquidation of
underlying investments
None 2 years
RII World Timberfund, LLC(c) ........... 5,569 Through liquidation of
underlying investments
None 10 years
100 Comm Drive, LLC(d) ................ 6,782 Through liquidation of
underlying investments
None NA
100 CTE Drive, LLC(d) .................. 5,405 Through liquidation of
underlying investments
None NA
6430 Oakbrook Parkway LLC(d) .......... 20,106 Through liquidation of
underlying investments
None NA
8001 West Jefferson, LLC(d) ............. 23,109 Through liquidation of
underlying investments
None NA
Total Interest in Limited Partnerships ....... $101,678
(a) The fund’s investment objective is to generate long-term capital appreciation with relatively low volatility
and a low correlation with traditional equity and fixed-income markets. The fund seeks to accomplish this
objective by allocating its assets primarily among a select group of experienced portfolio managers that
invest in a variety of markets, either through the medium of investment funds or through discretionary
managed accounts.
(b) The partnerships’ investment objective is to seek capital appreciation principally through investing in
investment funds managed by third party investment managers who employ a variety of alternative
investment strategies.
(c) The partnership’s objective is to realize substantial long-term capital appreciation by investing in timberland
properties primarily in South America, New Zealand and Australia.
(d) The partnerships invest in commercial real estate properties that are leased to the Company. The leases are
triple net, whereby the Company is responsible for all expenses, including but not limited to, insurance,
repairs and maintenance and payment of property taxes.
There have been no reclassifications of investments between Level 1, 2 or 3 assets during the years ended
December 31, 2012 or 2011.
The fair value of our OPEB plan assets, which are all measured using Level 1 inputs, was $5.1 million as
of December 31, 2012 and 2011, respectively.
The following table summarizes the carrying amounts and estimated fair values for long-term debt at
December 31, 2012 and 2011. For the other financial instruments, representing cash, accounts receivables,
long-term debt due within one year, accounts payable and other accrued liabilities, the carrying amounts
approximate fair value due to the relatively short maturities of those instruments. Other equity method
investments, for which market values are not readily available, are carried at cost, which approximates fair
value.
F-39
FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements