Morgan Stanley 2015 Annual Report Download - page 241

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
At December 31, 2014
Level 1 Level 2 Level 3 Total
(dollars in millions)
Assets:
Investments:
Cash and cash equivalents(1) ........................... $ 63 $ — $ — $ 63
U.S. government and agency securities:
U.S. Treasury securities ........................... 1,332 — — 1,332
U.S. agency securities ............................. — 265 — 265
Total U.S. government and agency securities ....... 1,332 265 — 1,597
Corporate and other debt:
State and municipal securities ....................... — 2 — 2
Collateralized debt obligations ...................... — 62 — 62
Total corporate and other debt .................. — 64 — 64
Derivative contracts .................................. — 292 — 292
Derivative-related cash collateral receivable ............... — 2 — 2
Commingled trust funds(2) ............................. — 1,432 — 1,432
Foreign funds(3) ..................................... — 347 — 347
Other investments .................................... — — 36 36
Total investments ................................ 1,395 2,402 36 3,833
Receivables:
Other receivables(1) .................................. — 27 — 27
Total receivables ................................. — 27 — 27
Total assets ............................................. $ 1,395 $ 2,429 $ 36 $ 3,860
Liabilities:
Derivative contracts ...................................... $ — $ 33 $ — $ 33
Derivative-related cash collateral payable ..................... — 2 — 2
Other liabilities(1) ........................................ — 120 — 120
Total liabilities .......................................... $ — $ 155 $ — $ 155
Net pension assets .................................... $ 1,395 $ 2,274 $ 36 $ 3,705
(1) Cash and cash equivalents, other receivables and other liabilities are valued at their carrying value, which approximates fair value.
(2) Commingled trust funds consist of investments in fixed income funds and money market funds of $1,239 million and $59 million, respectively, at December 31,
2015 and $1,280 million and $152 million, respectively, at December 31, 2014.
(3) Foreign funds include investments in fixed income funds, liquidity funds and targeted cash flow funds of $149 million, $98 million and $91 million,
respectively, at December 31, 2015 and $158 million, $53 million and $136 million, respectively, at December 31, 2014.
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