Sears 2014 Annual Report Download - page 97

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
97
Investment Assets at Fair Value at
SHC Domestic February 1, 2014
millions Total Level 1 Level 2 Level 3
Cash equivalents and short-term investments . . . . . . . . . . . . . . . . . . . . . . . $ 274 $ — $ 274 $ —
Equity securities:
U.S. companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,026 1,026 — —
International companies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 163 — —
Fixed income securities:
Corporate bonds and notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,888 — 1,888 —
Sears Holdings Corporation senior secured notes. . . . . . . . . . . . . . . . . . . 99 — 99 —
Mortgage-backed and asset-backed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 — 3 —
Ventures and partnerships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 — — 6
Total investment assets at fair value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,459 $ 1,189 $ 2,264 $ 6
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (29)
Net assets available for plan benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,490
Investment Assets at Fair Value at
Sears Canada February 1, 2014
millions Total Level 1 Level 2 Level 3
Cash equivalents and short-term investments . . . . . . . . . . . . . . . . . . . . . . . $ 107 $ — $ 107 $ —
Equity securities:
U.S. companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152 152 — —
International companies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 — —
Common collective trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 264 — 264 —
Fixed income securities:
Corporate bonds and notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 617 — 554 63
Mortgage-backed and asset-backed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 — 6 48
Municipal and foreign government . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 — 14 —
Hedge and pooled equity funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 — — 2
Total investment assets at fair value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,213 $ 155 $ 945 $ 113
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Refundable deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 347
Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (369)
Net assets available for plan benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,244
Equity securities, which include common and preferred stocks, are actively traded and valued at the closing
price reported in the active market in which the security is traded and are assigned to Level 1.
Common collective trusts are portfolios of underlying investments held by investment managers and are
valued at the unit value reported by the investment managers as of the end of each period presented. Collective
short-term investment funds are stated at net asset value (NAV) as determined by the investment managers.
Investment managers value the underlying investments of the funds at amortized cost, which approximates fair
value, and have assigned a Level 2 to the valuation of those investments. Fixed income securities are assigned to