General Dynamics 2015 Annual Report Download - page 64

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The fair value of our other post-retirement plan assets by category and the corresponding level within the fair value hierarchy were as follows:
Fair
Value
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Fair
Value
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Asset Category December 31, 2015 December 31, 2014
Cash and equivalents $79 $– $79 $– $3 $– $3 $–
Equity securities 77 77 – – 164 164 – –
Fixed-income securities 21 – 21 – 10 – 10 –
Commingled funds:
Equity funds 246 – 246 – 314 5 309 –
Fixed-income funds 99 – 99 – 57 6 51 –
Real estate funds 3 2 – 1 3 3 – –
Hedge funds 2 – – 2 2 – – 2
Total other post-retirement plan assets $ 527 $ 79 $ 445 $ 3 $ 553 $ 178 $ 373 $ 2
Changes in our Level 3 retirement plan assets during 2015 and 2014 were as follows:
Private Equity
Investments
Real Estate
Funds Hedge Funds
Insurance
Deposits
Agreements
Total Level
3 Assets
December 31, 2013 $ 10 $ 34 $ 473 $ 115 $ 632
Actual return on plan assets:
Unrealized gains, net (2) 9 39 (12) 34
Purchases, sales, and settlements, net 1 96 – – 97
December 31, 2014 9 139 512 103 763
Actual return on plan assets:
Unrealized gains, net 1 15 14 2 32
Realized gains, net – – 6 – 6
Purchases, sales, and settlements, net 2 227 (85) (2) 142
December 31, 2015 $ 12 $ 381 $ 447 $ 103 $ 943
60 General Dynamics Annual Report 2015