United Airlines 2011 Annual Report Download - page 120

Table of Contents
Fair Value Information. Accounting standards require us to use valuation techniques to measure fair value that maximize the use of observable inputs and
minimize the use of unobservable inputs. These inputs are prioritized as follows:
Level 1 Unadjusted quoted prices in active markets for assets or liabilities identical to those to be reported at fair value
Level 2 Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities or market-corroborated inputs
Level 3 Unobservable inputs for which there is little or no market data and which require us to develop our own assumptions about how market
participants would price the assets or liabilities
The following tables present information about the Company’s pension and other postretirement plan assets at December 31, (in millions):
 
Pension Plan Assets:        
Equity securities funds $ 872 $355 $517 $ — $1,310 $— $1,310 $ —
Fixed-income securities 530 — 530 — 365 — 365 —
Alternatives 344 — 195 149 150 — — 150
Insurance contract 42 — — 42 42 — — 42
Other investments 80 — 80 — 4 — 4 —
Total $1,868 $355 $1,322 $191 $1,871 $— $1,679 $192
Other Postretirement Benefit Plan Assets:
Deposit administration fund $58 $ — $ — $58 $58 $— $ — $58
 
Pension Plan Assets:        
Equity securities funds $102 $— $102 $— $113 $— $113 $—
Fixed-income securities 47 — 47 — 24 — 24 —
Insurance contract 42 — — 42 42 — — 42
Other investments 4 — 4 — 4 — 4 —
Total $195 $— $153 $42 $183 $— $141 $42
Other Postretirement Benefit Plan Assets:
Deposit administration fund $58 $— $— $58 $58 $— $— $58
 
Pension Plan Assets:        
Equity securities funds $770 $355 $ 415 $— $1,197 $— $1,197 $—
Fixed-income securities 483 — 483 — 341 — 341 —
Alternatives 344 — 195 149 150 — — 150
Other investments 76 — 76 — — — — —
Total $1,673 $355 $1,169 $149 $1,688 $— $1,538 $150
 Equity securities include investments in both developed market and emerging market equity securities. Fixed-income
securities include primarily U.S. and non-U.S. government fixed-income securities and U.S. and non-U.S corporate fixed-income securities along with asset-
backed securities.
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