MoneyGram 2011 Annual Report Download - page 117

Table of Contents
Following are the Plan’s financial assets recorded at fair value by hierarchy level as of December 31:
2011
(Amounts in thousands) Level 1 Level 2 Level 3 Total
Short−term securities $ — $ 1,644 $ — $ 1,644
Common collective trust — equity securities
Large Cap securities — 46,133 — 46,133
Small Cap securities — 10,274 — 10,274
International securities — 5,126 — 5,126
Common collective trust — fixed income securities
Core fixed income 5,267 16,558 — 21,825
Long duration fixed income — 20,380 — 20,380
Real estate — — 4,760 4,760
Total financial assets $5,267 $100,115 $4,760 $110,142
2010
(Amounts in thousands) Level 1 Level 2 Level 3 Total
Short−term securities $1,949 $ — $ — $ 1,949
Common collective trust — equity securities
Large Cap securities — 47,178 — 47,178
Small Cap securities — 10,641 — 10,641
International securities — 6,282 — 6,282
Common collective trust — fixed income securities
Core fixed income 4,943 13,949 — 18,892
Long duration fixed income — 17,973 — 17,973
Real estate — — 4,194 4,194
Experience fund investment contracts — 27 — 27
Total financial assets $6,892 $96,050 $4,194 $107,136
The Company’s pension plan assets include one security that the Company considers to be a Level 3 asset for valuation purposes. This security is an
investment in a real estate joint venture and requires the use of unobservable inputs in its fair value measurement. The fair value of this asset as of
December 31, 2011 and 2010 was $4.8 million and $4.2 million, respectively. The change in reported net asset value for this asset resulted in an unrealized
gain of $0.6 million for 2011 and an unrealized loss of $1.5 million for 2010.
Plan Financial Information — Net periodic benefit expense (income) for the defined benefit pension plan and SERPs and postretirement benefit plans
includes the following components for the years ended December 31:
Pension and SERPs Postretirement Benefits
(Amounts in thousands) 2011 2010 2009 2011 2010 2009
Service cost $ — $ — $ 894 $ — $ — $ 572
Interest cost 11,365 11,876 12,659 51 253 837
Expected return on plan assets (8,223) (8,664) (9,403) — — —
Amortization of prior service cost (credit) 29 84 346 (626) — (352)
Recognized net actuarial loss 6,287 4,782 3,777 244 15 —
Curtailment gain — — (1,535) — — (12,804)
Net periodic benefit expense (income) $ 9,458 $ 8,078 $ 6,738 $(331) $268 $(11,747)
F−35