IBM 2015 Annual Report Download - page 140

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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,
2015 and 2014 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 Total
Balance at January 1, 2015 $— $ 4 $20 $295 $889 $3,287 $2,942 $ 7,437
Return on assets held at end of year —00923(199) (210) (377)
Return on assets sold during the year —100—429460889
Purchases, sales and settlements, net — (5) (2) 98 — (727) (763) (1,399)
Transfer s, net — 2 (8) — — 0 — (6)
Balance at December 31, 2015 $— $ 2 $10 $401 $912 $2,790 $2,429 $ 6,544
($ inmillions)
Government
and Related
Corporate
Bonds
Mortgage
and Asset-
Backed
Securities
Fixed Income
Commingled/
Mutual Funds
Hedge
Funds
Private
Equity
Private
Real Estate Total
Balance at January 1, 2014 $ 1 $ 5 $19 $274 $860 $3,771 $3,038 $ 7,968
Return on assets held at end of year — 0 0 21 28 (10) 197 238
Return on assets sold during the year — 0 0 — — 332 199 531
Purchases, sales and settlements, net — 0 (3) — — (807) (492) (1,302)
Transfer s, net (1)(1) 4———— 2
Balance at December 31, 2014 $— $ 4 $20 $295 $889 $3,287 $2,942 $ 7,437
The following tables present the reconciliation of the beginning and ending balances of Level3 assets for the years ended December31,
2015 and 2014 for the non-U.S. Plans.
($ inmillions)
Government
and Related
Corporate
Bonds
Private
Equity
Private
Real Estate
Other
Commingled/
Mutual Funds Total
Balance at January 1, 2015 $ 32 $ 1 $513 $664 $220 $1,429
Return on assets held at end of year (2) 0 (25) 45 28 47
Return on assets sold during the year 0 0 62 46 — 107
Purchases, sales and settlements, net (10) 3 73 (62) 84 88
Transfer s, net ——————
Foreign exchange impact (3) 0 (42) (31) (15) (91)
Balance at December 31, 2015 $ 16 $ 4 $582 $661 $317 $1,580
($ inmillions)
Government
and Related
Corporate
Bonds
Private
Equity
Private
Real Estate
Other
Commingled/
Mutual Funds Total
Balance at January 1, 2014 $42 $ 4 $410 $655 $ — $1,110
Return on assets held at end of year 3 0 26 83 26 138
Return on assets sold during the year 0 0 46 (12) — 34
Purchases, sales and settlements, net (8) (3) 75 (13) 104 155
Transfer s, net — — 0 — 102 102
Foreign exchange impact (5) 0 (45) (49) (12) (110)
Balance at December 31, 2014 $32 $ 1 $513 $664 $220 $1,429