IBM 2013 Annual Report Download - page 139

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Notes to Consolidated Financial Statements
International Business Machines Corporation and Subsidiary Companies
138
The following tables present the reconciliation of the beginning and ending balances of Level 3 assets for the years ended December 31, 2013
and 2012 for the U.S. Plan.
($ in millions)
Government
and Related
Corporate
Bonds
Mortgage
and Asset-
Backed
Securities
Fixed Income
Commingled/
Mutual Funds
Hedge
Funds
Private
Equity
Private
Real Estate Tot a l
Balance at January 1, 2013 $ 6 $11 $ 45 $267 $756 $4,085 $2,861 $ 8,032
Return on assets held at end of year 0 (0) (1) 7 104 1,104 889 2,103
Return on assets sold during the year 0 (0) (0) — (0) (528) (412) (939)
Purchases, sales and settlements, net (5) 3 (0) — (0) (891) (301) (1,194)
Transfers, net 0 (8) (26) — — — — (33)
Balance at December 31, 2013 $ 1 $ 5 $ 19 $274 $860 $3,771 $3,038 $ 7,968
($ in millions)
Government
and Related
Corporate
Bonds
Mortgage
and Asset-
Backed
Securities
Fixed Income
Commingled/
Mutual Funds
Hedge
Funds
Private
Equity
Private
Real Estate Tot a l
Balance at January 1, 2012 $ 29 $12 $45 $246 $713 $4,098 $2,790 $7,932
Return on assets held at end of year 0 0 1 21 56 855 202 1,135
Return on assets sold during the year 0 2 1 — 14 (334) (41) (359)
Purchases, sales and settlements, net (1) (2) (9) — (26) (533) (90) (660)
Transfers, net (22) (1) 8 — — — — (15)
Balance at December 31, 2012 $ 6 $11 $45 $267 $756 $4,085 $2,861 $8,032
The following tables present the reconciliation of the beginning and ending balances of Level 3 assets for the years ended December 31, 2013
and 2012 for the non-U.S. Plans.
($ in millions)
Government
and Related
Corporate
Bonds
Private
Equity
Private
Real Estate To t a l
Balance at January 1, 2013 $ 76 $ 5 $353 $609 $1,042
Return on assets held at end of year (12) (0) 1 33 22
Return on assets sold during the year 1 (0) 18 (3) 16
Purchases, sales and settlements, net (24) (1) 26 1 1
Foreign exchange impact 2 0 12 15 29
Balance at December 31, 2013 $ 42 $ 4 $410 $655 $1,110
($ in millions)
Government
and Related
Corporate
Bonds
Private
Equity
Private
Real Estate To t a l
Balance at January 1, 2012 $ 96 $ 39 $262 $580 $ 977
Return on assets held at end of year 3 (1) 9 (5) 6
Return on assets sold during the year 3 1 9 0 14
Purchases, sales and settlements, net (26) (29) 62 14 21
Transfers, net (2) (5) (0) (3) (10)
Foreign exchange impact 1 (0) 11 23 34
Balance at December 31, 2012 $ 76 $ 5 $353 $609 $1,042