Tyson Foods 2013 Annual Report Download - page 59

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59
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The fair value hierarchy requires the use of observable market data when available. In instances where the inputs used to measure fair
value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level
input significant to the fair value measurement in its entirety. Our assessment of the significance of a particular item to the fair value
measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability.
The following tables set forth by level within the fair value hierarchy our financial assets and liabilities accounted for at fair value on a
recurring basis according to the valuation techniques we used to determine their fair values:
in millions
September 28, 2013 Level 1 Level 2 Level 3 Netting (a) Total
Assets:
Commodity Derivatives $ — $ 29 $ — $ (21) $ 8
Foreign Exchange Forward Contracts — 3 — (1) 2
Available for Sale Securities:
Current — 1 — — 1
Non-current 4 24 65 — 93
Deferred Compensation Assets 23 191 — — 214
Total Assets $ 27 $ 248 $ 65 $ (22) $ 318
Liabilities:
Commodity Derivatives $ — $ 101 $ — $ (101) $ —
Foreign Exchange Forward Contracts — 1 — — 1
Total Liabilities $ — $ 102 $ — $ (101) $ 1
September 29, 2012 Level 1 Level 2 Level 3 Netting (a) Total
Assets:
Commodity Derivatives $ — $ 53 $ — $ (40) $ 13
Foreign Exchange Forward Contracts — 1 — (1) —
Available for Sale Securities:
Current — 3 — — 3
Non-current 6 25 86 — 117
Deferred Compensation Assets 31 149 — — 180
Total Assets $ 37 $ 231 $ 86 $ (41) $ 313
Liabilities:
Commodity Derivatives $ — $ 102 $ — $ (100) $ 2
Foreign Exchange Forward Contracts — 3 — — 3
Total Liabilities $ — $ 105 $ — $ (100) $ 5
(a) Our derivative assets and liabilities are presented in our Consolidated Balance Sheets on a net basis. We net derivative assets
and liabilities, including cash collateral, when a legally enforceable master netting arrangement exists between the
counterparty to a derivative contract and us. At September 28, 2013, and September 29, 2012, we had posted with various
counterparties $79 million and $59 million, respectively, of cash collateral and held no cash collateral.