INTL FCStone 2011 Annual Report Download - page 104

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INTL FCSTONE INC.Form10K90
PART II
ITEM 8 Consolidated Financial Statements and Supplementary Data
e following tables summarize the Company’s pension assets, excluding cash held in the plan, by major category of plan assets
measured at fair value on a recurring basis (at least annually) as of September30,2011 and 2010. For additional information and
a detailed description of each level within the fair value hierarchy, see Note5.
(in millions)
September30,2011
Level1 Level2 Level3 Total
Assets:
Cash equivalents $ — $ 0.5 $ — $ 0.5
Fixed income:
Government and agencies — 0.9 — 0.9
Municipal bonds ————
Corporate bonds and notes ————
Mutual funds 0.2 — — 0.2
Collective funds:
Fixed income — 6.0 — 6.0
Equities — 15.5 — 15.5
Real estate — 1.7 — 1.7
TOTAL $ 0.2 $ 24.6 $  $ 24.8
(in millions)
September30,2010
Level1 Level2 Level3 Total
Assets:
Cash equivalents $ — $ 0.5 $ — $ 0.5
Fixed income:
Government and agencies — 3.3 — 3.3
Municipal bonds — 0.6 — 0.6
Corporate bonds and notes — 2.7 — 2.7
Mutual funds 0.2 — — 0.2
Collective funds:
Fixed income — 12.3 — 12.3
Equities — 3.2 — 3.2
Real estate — — 1.3 1.3
TOTAL $ 0.2 $ 22.6 $ 1.3 $ 24.1
Cash equivalents are mostly comprised of short-term money
market instruments and the valuation is based on inputs derived
from observable market data of related assets.
Fixed Income: ese securities primarily include debt issued by
the U.S. Department of Treasury and securities issued or backed
by U.S. government sponsored entities and municipal bonds.
ese investments are valued utilizing a market approach that
includes various valuation techniques and sources such as, broker
quotes in active and non-active markets, benchmark yields and
securities, reported trades, issuer spreads, and/or other applicable
reference data and are generally classifi ed within Level2.
Corporate Bonds and Notes: Securities in this category primarily
include fi xed income securities issued by domestic and foreign
corporations. ese investments are valued utilizing a market
approach that includes various valuation techniques and sources
such as value generation models, broker quotes in active and
non-active markets, benchmark yields and securities, reported
trades, issuer spreads, and/or other applicable reference data,
and are generally classifi ed as Level2.
Mutual Funds: Mutual funds held by the Company’s plans are
primarily invested in mutual funds with underlying common
stock investments. e fair value of these investments is based
on the net asset value of the units held in the respective fund
which are determined by obtaining quoted prices on nationally
recognized securities exchanges.
Collective Funds: These collective investment funds are
unregistered investment vehicles that invest in portfolios of
stock, bonds, or other securities. e value of equity collective
funds is based upon review of the audited statement of the funds.
Substantially all of the underlying investments in the funds were
either Level1 or Level2 investments. As such, the plan has
classifi ed the investment in the funds (which is not exchange
traded) as Level2 investments. As of September30,2010, the
value of a certain real estate collective fund was based upon