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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
74
The following table presents information about our investments measured at fair value on a recurring basis as of
December 31, 2015 and 2014, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair
value (in millions):
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3) Total
2015
Marketable securities:
U.S. government and agency debt securities $ 340 $ — $ — $ 340
Mortgage and asset-backed debt securities — 74 — 74
Corporate debt securities — 861 — 861
U.S. state and local municipal debt securities — 2 — 2
Equity securities — 2 — 2
Non-U.S. government debt securities — 366 — 366
Carbon credit investments 351 — — 351
Total marketable securities 691 1,305 — 1,996
Other non-current investments 19 — 32 51
Total $ 710 $ 1,305 $ 32 $ 2,047
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3) Total
2014
Marketable securities:
U.S. government and agency debt securities $ 321 $ — $ — $ 321
Mortgage and asset-backed debt securities — 89 — 89
Corporate debt securities — 534 — 534
U.S. state and local municipal debt securities —2—2
Equity securities — 2 — 2
Non-U.S. government debt securities — 44 — 44
Total marketable securities 321 671 — 992
Other investments 19 — 64 83
Total $ 340 $ 671 $ 64 $ 1,075