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46 TOSHIBA Annual Report 2012
Toshiba Corporation and Subsidiaries
March 31, 2012
Notes to Consolidated Financial Statements
Each level into which assets are categorized is based on inputs used to measure the fair value of the assets, and does not
necessarily indicate the risks or ratings of the assets.
Level 1 plan assets represent marketable equity securities, pooled funds and government bonds, which are valued
based on quoted market prices in active markets with sufficient volume and frequency of transactions. Level 2 plan assets
represent pooled funds that invest in equity securities and debt securities, corporate bonds and life insurance company
general accounts. Pooled funds, which are classified as Level 2 asset, are valued at their net asset values that are
calculated by the sponsor of the fund. Corporate bonds are valued based on quoted market prices for identical assets in
inactive markets. Life insurance company general accounts are valued based on contracts. Level 3 plan assets represent
pooled funds that invest in debt securities, hedge funds and real estate, which are valued based on unobservable inputs
as the markets for the assets are not active at the measurement date.
An analysis of the changes in Level 3 plan assets measured at fair value for the year ended March 31, 2012 and 2011 are as
follows:
Millions of yen
Year ended March 31, 2012 Pooled funds Hedge funds Real estate Total
Balance at beginning of year ¥ − ¥ 96,724 ¥ 17,311 ¥ 114,035
Actual return:
Relating to assets sold − 149 107 256
Relating to assets still held 180 211 (518) (127)
Purchases, issuances and settlements 3,957 33 7,957 11,947
Balance at end of year ¥ 4,137 ¥ 97,117 ¥ 24,857 ¥ 126,111
Millions of yen
Year ended March 31, 2011 Hedge funds Real estate Total
Balance at beginning of year ¥ 91,530 ¥ 22,871 ¥ 114,401
Actual return:
Relating to assets sold 51 (1,810) (1,759)
Relating to assets still held 5,944 (703) 5,241
Purchases, issuances and settlements (801) (3,047) (3,848)
Balance at end of year ¥ 96,724 ¥ 17,311 ¥ 114,035
Thousands of U.S. dollars
Year ended March 31, 2012 Pooled funds Hedge funds Real estate Total
Balance at beginning of year $ − $ 1,179,561 $ 211,110 $ 1,390,671
Actual return:
Relating to assets sold − 1,817 1,305 3,122
Relating to assets still held 2,195 2,573 (6,317) (1,549)
Purchases, issuances and settlements 48,256 403 97,036 145,695
Balance at end of year $ 50,451 $ 1,184,354 $ 303,134 $ 1,537,939
Certain of the Company's subsidiaries provide certain health care and life insurance benefits to retired employees. Such
benefits were not material for the years ended March 31, 2012 and 2011.