HP 2012 Annual Report Download - page 150
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 16: Retirement and Post-Retirement Benefit Plans (Continued)
Defined benefit plans with accumulated benefit obligations exceeding the fair value of plan assets
were as follows:
U.S. Defined Non-U.S. Defined
Benefit Plans Benefit Plans
2012 2011 2012 2011
In millions
Aggregate fair value of plan assets ..................... $11,536 $10,662 $10,193 $ 8,465
Aggregate accumulated benefit obligation ................ $14,236 $11,943 $13,645 $11,323
Fair Value Considerations
The table below sets forth the fair value of our plan assets as of October 31, 2012 by asset
category, using the same three-level hierarchy of fair-value inputs described in Note 9.
U.S. Defined Benefit Plans Non-U.S. Defined Benefit Plans Post-Retirement Benefit Plans
Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
In millions
Asset Category:
Equity securities
U.S. ................... $1,150 $ — $ — $ 1,150 $1,621 $ 28 $ — $ 1,649 $— $— $ — $ —
Non-U.S. ................ 866 — — 866 4,049 50 76 4,175 — — — —
Debt securities
Corporate ................ — 3,442 1 3,443 — 2,878 — 2,878 — 17 — 17
Government(1) .............. 1,626 1,411 — 3,037 — 1,653 — 1,653 6 16 — 22
Alternative Investments
Private Equities(2) ............ 3 — 1,300 1,303 2 — 21 23 — — 235 235
Hybrids .................. — — 2 2 — 1,089 — 1,089 — — 1 1
Hedge Funds .............. — — 65 65 — 296 233 529 — — — —
Real Estate Funds ............. — — — — 449 177 194 820 — — — —
Insurance Group Annuity Contracts . . — — — — — 60 88 148 — — — —
Common Collective Trusts and 103-12
Investment Entities ........... — 1,546 — 1,546 — — — — — 49 — 49
Registered Investment Companies
(‘‘RICs’’)(3) ................ 119 342 — 461 — — — — 73 — — 73
Cash and Cash Equivalents(4) ...... (66) 108 — 42 439 5 — 444 — 2 — 2
Other(5) ................... (245) (134) — (379) 575 36 2 613 (4) — — (4)
Total ..................... $3,453 $6,715 $1,368 $11,536 $7,135 $6,272 $614 $14,021 $75 $84 $236 $395
(1) Includes debt issued by national, state and local governments and agencies.
(2) Includes limited partnerships and venture capital partnerships.
(3) Includes publicly and privately traded RICs.
(4) Includes cash and cash equivalents such as short-term marketable securities.
(5) Includes international insured contracts, derivative instruments and unsettled transactions.
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