Frontier Communications 2012 Annual Report Download - page 99

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($ in thousands) Total Level 1 Level 2 Level 3
Fair Value Measurements at December 31, 2011
Cash and Cash Equivalents ...................... $ 34,087 $ — $ 34,087 $ —
U.S. Government Obligations .................... 120,802 — 120,802 —
Corporate and Other Obligations . . . .............. 323,075 — 323,075 —
Common Stock . ................................ 251,776 251,776 — —
Commingled Funds.............................. 99,063 — 61,869 37,194
Common/Collective Trust Funds . . . .............. 8,606 — 8,606 —
Interest in Registered Investment Companies ..... 253,752 83,667 170,085 —
Interest in Limited Partnerships .................. 104,033 — — 104,033
Insurance Contracts ............................. 805 — 805 —
Other. .......................................... 141 — 141 —
Total investments, at fair value .................. $1,196,140 $335,443 $719,470 $141,227
Receivable for Plan Assets of Acquired Business . 51,634
Receivable for Earnings on Plan Assets of
Acquired Business ............................ 8,869
Interest and Dividends Receivable. . .............. 2,835
Due from Broker for Securities Sold ............. 30,085
Receivable Associated with Insurance Contract . . . 7,727
Due to Broker for Securities Purchased .......... (39,300)
Total Plan Assets, at Fair Value . . . .............. $1,257,990
The table below sets forth a summary of changes in the fair value of the Plan’s Level 3 assets for the years
ended December 31, 2012 and 2011:
($ in thousands)
Interest in
Limited
Partnerships
Commingled
Funds
2012
Balance, beginning of year. ........................................... $104,033 $37,194
Realized gains/(losses) ................................................ 5,587 —
Unrealized gains . .................................................... 454 2,620
Sales . . . ............................................................. (8,396) —
Balance, end of year ................................................. $101,678 $39,814
($ in thousands)
Interest in
Limited
Partnerships
Commingled
Funds
2011
Balance, beginning of year. ........................................... $ 42,635 $ 37,378
Realized gains/(losses) ................................................ 378 12
Unrealized gains/(losses) . . . ........................................... 317 (196)
Contributed assets .................................................... 58,100 —
Purchases ............................................................ 10,101 37,390
Sales . . . ............................................................. (7,498) (37,390)
Balance, end of year ................................................. $104,033 $ 37,194
The following table provides further information regarding the redemption of the Plan’s Level 3
investments as of December 31, 2012:
F-38
FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements