Memorex 2013 Annual Report Download - page 83

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Common stocks. Investments in common stock are valued at the closing price reported on major markets on which the
individual securities are traded. Accordingly, these investments are classified as Level 1 financial instruments.
Comingled trust funds. These assets are valued using the NAV of shares as of December 31. The NAV is a quoted
transactional price for participants in the fund which do not represent an active market. In relation to these investments, there
are no unfunded commitments and the shares can be redeemed on a daily basis with minimal restrictions. Events that may
lead to a restriction to transact with the funds are not considered probable. These investments are classified as Level 2
financial instruments. The Fund’s investment objective is to achieve long-term growth primarily by investing in a diversified
portfolio of equity securities of companies located in any country other than the United States.
Insurance contracts. These assets are valued using quoted prices for similar assets. Accordingly, these investments are
classified as Level 2 financial instruments.
These methods may produce a fair value calculation that may not be indicative of the net realizable value or reflective of
future fair values. Furthermore, while we believe the valuation methods are appropriate and consistent with other market
participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments
could result in a different value measurement. Investments, in general, are subject to various risks, including credit, interest
and overall market volatility risks. There were no transfers into or out of Level 1 or Level 2 during the years ended
December 31, 2013 or December 31, 2012.
The fair value of the plan assets by asset category were as follows:
United States
December 31,
2013
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant Other
Observable
Inputs (Level 2)
Unobservable
Inputs
(Level 3)
(In millions)
Short-term investments
Money market securities ............. $ 0.5 $ 0.5 $ — $—
Mutual Funds
Equity securities
Large-cap growth funds ............ 16.1 — 16.1 —
International growth fund ........... 11.1 7.5 3.6 —
Fixed income securities .............. 13.0 13.0 — —
Absolute return strategy funds ......... 12.8 — 12.8 —
Common stocks ...................... 8.3 8.3 — —
Commingled trust funds ................ 9.2 — 9.2 —
Total .............................. $71.0 $29.3 $41.7 $—
International
December 31,
2013
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs (Level 2)
Unobservable
Inputs
(Level 3)
(In millions)
Short-term investments
Other ........................... $ 0.3 $— $ 0.3 $—
Mutual Funds
Fixed income securities ............. 6.1 — 6.1 —
Insurance contracts .................. 19.7 — 19.7 —
Total ............................. $26.1 $— $26.1 $—
80