UPS 2013 Annual Report Download - page 84
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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
72
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3) Total
2013
Marketable securities:
U.S. government and agency debt securities $ 353 $ 1 $ — $ 354
Mortgage and asset-backed debt securities — 75 — 75
Corporate debt securities — 146 — 146
U.S. state and local municipal debt securities — 2 — 2
Other debt and equity securities — 3 — 3
Total marketable securities 353 227 — 580
Other investments 19 — 110 129
Total $ 372 $ 227 $ 110 $ 709
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3) Total
2012
Marketable securities:
U.S. government and agency debt securities $ 237 $ 1 $ — $ 238
Mortgage and asset-backed debt securities — 174 — 174
Corporate debt securities — 163 — 163
U.S. state and local municipal debt securities — 15 — 15
Other debt and equity securities — 7 — 7
Total marketable securities 237 360 — 597
Other investments 19 — 163 182
Total $ 256 $ 360 $ 163 $ 779
The following table presents the changes in the above Level 3 instruments measured on a recurring basis for the years
ended December 31, 2013 and 2012 (in millions).
Marketable
Securities Other
Investments Total
Balance on January 1, 2012 $ — $ 217 $ 217
Transfers into (out of) Level 3 — — —
Net realized and unrealized gains (losses):
Included in earnings (in investment income) — (54)(54)
Included in accumulated other comprehensive income (pre-tax) — — —
Purchases — — —
Settlements — — —
Balance on December 31, 2012 $ — $ 163 $ 163
Transfers into (out of) Level 3 — — —
Net realized and unrealized gains (losses):
Included in earnings (in investment income) — (53)(53)
Included in accumulated other comprehensive income (pre-tax) — — —
Purchases — — —
Settlements — — —
Balance on December 31, 2013 $ — $ 110 $ 110