Pfizer 2010 Annual Report Download - page 92

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Notes to Consolidated Financial Statements
Pfizer Inc. and Subsidiary Companies
The details of our plan assets classified as Level 3 assets, including an analysis of changes during 2010, are as follows:
(MILLIONS OF DOLLARS)
FAIR VALUE,
BEGINNING
OF YEAR
ACTUAL RETURN ON PLAN ASSETS PURCHASES,
SALES AND
SETTLEMENTS,
NET
TRANSFER
INTO/(OUT OF)
LEVEL 3
EXCHANGE
RATE
CHANGES
FAIR
VALUE,
END OF
YEAR
ASSETS HELD,
END OF YEAR
ASSETS SOLD
DURING THE
PERIOD
U.S. qualified pension plans:
Equity securities:
Global equity securities $ 9 $ 2 $ (3) $ (1) $ (6) $ — $ 1
Debt securities:
Government bonds 26 (1) 2 (23) (4) — —
Corporate debt securities 15 1 — (8) (6) — 2
Other investments:
Private equity funds 843 45 42 (31) — — 899
Other 454 21 — (10) — — 465
Total $1,347 $68 $41 $(73) $(16) $ — $1,367
International pension plans:
Equity securities:
Global equity securities $ 33 $ (2) $ (1) $(28) $ — $ (2) $ —
Equity commingled funds 20 — — — (19) (1) —
Debt securities:
Corporate debt securities 5 (1) — (1) (3) — —
Other investments:
Private equity funds 34 (2) — 1 (14) (2) 17
Insurance contracts 346 12 — (10) 52 (34) 366
Other 127 (3) — 37 58 (4) 215
Total $ 565 $ 4 $ (1) $ (1) $ 74 $(43) $ 598
The details of our plan assets classified as Level 3 assets, including an analysis of changes during 2009, are as follows:
(MILLIONS OF DOLLARS)
FAIR VALUE,
BEGINNING
OF YEAR
ACTUAL RETURN ON PLAN ASSETS PURCHASES,
SALES AND
SETTLEMENTS,
NET
TRANSFER
INTO/(OUT OF)
LEVEL 3
EXCHANGE
RATE
CHANGES
FAIR
VALUE,
END OF
YEAR
ASSETS HELD,
END OF YEAR
ASSETS SOLD
DURING THE
PERIOD
U.S. qualified pension plans:
Equity securities:
Global equity securities $ 4 $ 2 $ (2) $ 5 $— $ — $ 9
Debt securities:
Government bonds 27 1 — (2) — — 26
Corporate debt securities 26 1 (1) (11) — — 15
Other investments:
Private equity funds 821 (44) 19 47 — — 843
Other 356 (21) 3 116 — — 454
Total $1,234 $(61) $ 19 $155 $— $— $1,347
International pension plans:
Equity securities:
Global equity securities $ 72 $ 15 $(25) $ (32) $— $ 3 $ 33
Equity commingled funds 29 (5) — (6) — 2 20
Debt securities:
Corporate debt securities 4 — — (1) 2 — 5
Other investments:
Private equity funds 26 (4) — 8 — 4 34
Insurance contracts 309 11 — (30) 6 50 346
Other 122 (10) — — 4 11 127
Total $ 562 $ 7 $(25) $ (61) $12 $70 $ 565
As of December 31, 2010 and 2009, the following methods and assumptions were used to estimate the fair value of our pension and
postretirement plans’ assets:
•Cash and cash equivalents, Equity commingled funds, Fixed-income commingled funds—observable prices.
90 2010 Financial Report