UPS 2013 Annual Report Download - page 92
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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
80
The fair values of U.S. and international pension and postretirement benefit plan assets by asset category as of
December 31, 2012 are presented below (in millions), as well as the percentage that each category comprises of our total plan
assets and the respective target allocations. This table has been revised from our 2012 Form 10-K filing to include international
plan assets in conformity with the 2013 presentation of international plan assets.
Level 1 Level 2 Level 3 Total
Assets
Percentage of
Plan Assets -
2012
Target
Allocation
2012
Asset Category (U.S. Plans):
Cash and cash equivalents $ 103 $ 139 $ — $ 242 0.9% 0-5
Equity Securities:
U.S. Large Cap 2,548 2,162 — 4,710
U.S. Small Cap 450 31 — 481
Emerging Markets 1,160 123 — 1,283
Global Equity 2,242 — — 2,242
International Equity 442 694 — 1,136
Total Equity Securities 6,842 3,010 — 9,852 38.8 35-55
Fixed Income Securities:
U.S. Government Securities 4,008 443 — 4,451
Corporate Bonds 9 3,113 138 3,260
Global Bonds — 457 — 457
Municipal Bonds — 83 — 83
Total Fixed Income Securities 4,017 4,096 138 8,251 32.5 25-35
Other Investments:
Hedge Funds — — 2,829 2,829 11.1 5-15
Private Equity — — 1,416 1,416 5.6 1-10
Real Estate 177 23 1,039 1,239 4.9 1-10
Structured Products(1) — 210 — 210 0.8 0-5
Other(2) — — 1,362 1,362 5.4 1-10
Total U.S. Plan Assets $11,139 $ 7,478 $ 6,784 $ 25,401 100.0%
Asset Category (International Plans):
Cash and cash equivalents $ 5 $ 17 $ — 22 2.8 0-5
Equity Securities:
Local Markets Equity 118 79 — 197
U.S. Equity 14 — — 14
International / Global Equity 71 59 — 130
Total Equity Securities 203 138 — 341 42.6 50-65
Fixed Income Securities:
Local Government Bonds 64 — — 64
Corporate Bonds 85 70 — 155
Total Fixed Income Securities 149 70 — 219 27.3 15-35
Other Investments:
Real Estate — 46 — 46 5.7 0-17
Structured Products(1) — — 49 49 6.1 0-10
Other — 124 — 124 15.5 0-20
Total International Plan Assets $ 357 $ 395 $ 49 $ 801 100.0%
Total Plan Assets $11,496 $ 7,873 $ 6,833 $ 26,202
(1) Represents mortgage and asset-backed securities.
(2) Represents global balanced-risk commingled funds, consisting primarily of equity, bonds, and some currencies and commodities.