Medtronic 2015 Annual Report Download - page 129
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Medtronic plc
Notes to Consolidated Financial Statements (Continued)
(in millions)
Total Level 3
Investments
Corporate Debt
Securities
Commingled
Trusts Partnership Units
Balance as of April 26, 2013 $ 851 $ 1 $ 227 $ 623
Total realized gains included in income 23 — — 23
Total unrealized gains included in accumulated other
comprehensive loss 86 — 58 28
Purchases and sales, net (1) — — (1)
Balance as of April 25, 2014 $ 959 $ 1 $ 285 $ 673
Non-U.S. Pension Benefits
Fair Value
as of
April 24, 2015
Fair Value Measurements
Using Inputs Considered as
(in millions) Level 1 Level 2 Level 3
Registered investment companies $ 1,113 $ — $ 1,113 $ —
Insurance contracts 60——60
Partnership units 16——16
$ 1,189 $ — $ 1,113 $ 76
Fair Value
as of
April 25, 2014
Fair Value Measurements
Using Inputs Considered as
(in millions) Level 1 Level 2 Level 3
Registered investment companies $ 868 $ — $ 868 $ —
Insurance contracts 11——11
Partnership units 10——10
$ 889 $ — $ 868 $ 21
The following tables provide a reconciliation of the beginning and ending balances of non-U.S. pension benefit assets measured
at fair value that used significant unobservable inputs (Level 3):
(in millions)
Total Level 3
Investments
Insurance
Contracts
Partnership
Units
Balance as of April 25, 2014 $21$11$10
Total unrealized gains included in accumulated other comprehensive loss 1 (1) 2
Purchases and sales, net 63 56 7
Foreign currency exchange (9) (6) (3)
Balance as of April 24, 2015 $76$60$16
(in millions)
Total Level 3
Investments
Insurance
Contracts
Partnership
Units
Balance as of April 26, 2013 $18$10$ 8
Total unrealized gains included in accumulated other comprehensive loss 1 — 1
Purchases and sales, net 1 — 1
Foreign currency exchange 1 1 —
Balance as of April 25, 2014 $21$11$10
Retirement Benefit Plan Funding It is the Company’s policy to fund retirement costs within the limits of allowable tax
deductions. During fiscal year 2015, the Company made discretionary contributions of approximately $91 million to the U.S.
pension plan. Internationally, the Company contributed approximately $80 million for pension benefits during fiscal year 2015.
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