Motorola 2009 Annual Report Download - page 120
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112
The fair values of the Company’s financial assets and liabilities by level in the fair value hierarchy as of
December 31, 2009 and 2008 were as follows:
December 31, 2009 Level 1 Level 2 Level 3 Total
Assets:
Sigma Fund securities:
U.S. government and agency obligations $ — $4,408 $ — $4,408
Corporate bonds — 411 19 430
Asset-backed securities — 66 — 66
Mortgage-backed securities — 52 — 52
Available-for-sale securities:
U.S. government and agency obligations — 23 — 23
Corporate bonds — 10 — 10
Mortgage-backed securities — 3 — 3
Common stock and equivalents 136 11 — 147
Derivative assets — 15 — 15
Liabilities:
Derivative liabilities — 21 — 21
December 31, 2008 Level 1 Level 2 Level 3 Total
Assets:
Sigma Fund securities:
U.S. government and agency obligations $ — $ 752 $ — $ 752
Corporate bonds — 1,880 102 1,982
Asset-backed securities — 170 2 172
Mortgage-backed securities — 92 30 122
Available-for-sale securities:
U.S. government and agency obligations — 28 — 28
Corporate bonds — 11 — 11
Asset-backed securities — 1 — 1
Mortgage-backed securities — 4 — 4
Common stock and equivalents 117 — — 117
Derivative assets — 60 — 60
Liabilities:
Derivative liabilities — 67 — 67
The following table summarizes the changes in fair value of our Level 3 assets:
2009 2008
Balance at January 1 $134 $35
Transfers to Level 3 11 138
Transfers from Level 3 (27) —
Purchases, sales, issuances, settlements and payments received (78) (11)
Losses on Sigma Fund investments included in Other income (expense) (21) (28)
Balance at December 31 $19 $134