Harley Davidson 2015 Annual Report Download - page 87
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87
The fair values of the Company’s pension plan assets as of December 31, 2014 were as follows (in thousands):
Balance as of
December 31, 2014
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Assets:
Cash and cash equivalents $ 38,131 $ 2,965 $ 35,166 $ —
Equity holdings:
U.S. companies 625,174 620,964 4,210 —
Foreign companies 109,088 109,088 — —
Harley-Davidson common stock 83,942 83,942 — —
Pooled equity funds 323,613 323,613 — —
Private equity/real estate 31,227 140 1 31,086
Total equity holdings 1,173,044 1,137,747 4,211 31,086
Fixed-income holdings:
U.S. Treasuries 51,375 51,375 — —
Federal agencies 45,282 — 45,282 —
Corporate bonds 376,454 — 376,454 —
Pooled fixed income funds 236,024 52,335 183,689 —
Foreign bonds 58,956 — 58,956 —
Municipal bonds 13,380 — 13,380 —
Total fixed-income holdings 781,471 103,710 677,761 —
Total pension plan assets $ 1,992,646 $ 1,244,422 $ 717,138 $ 31,086
Included in the pension plan assets are 1,273,592 shares of the Company’s common stock with a market value of $83.9
million at December 31, 2014.
The following table presents a reconciliation of the fair value measurements using significant unobservable inputs (Level
3) as of December 31, 2014 (in thousands):
Private Equity/
Real Estate
Balance, beginning of period $ 34,234
Actual return on plan assets:
Relating to assets still held at the reporting date (3,178)
Purchases, sales and settlements 30
Balance, end of period $ 31,086