Xcel Energy 2009 Annual Report Download - page 121

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Pension Plan Assets
The following table presents, for each of the fair value hierarchy levels, pension plan assets that are measured at fair
value as of Dec. 31, 2009:
Level 1 Level 2 Level 3 Total
(Thousands of Dollars)
Cash equivalents ................................... $ — $ 221,971 $ — $ 221,971
Short-term investments & money market securities .............. — 324,683 — 324,683
Derivatives ....................................... — 11,606 — 11,606
Government securities ................................ — 94,949 — 94,949
Corporate bonds ................................... — 522,403 — 522,403
Asset-backed & mortgage-backed securities ................... — — 191,831 191,831
Common stock .................................... 89,260 — — 89,260
Private equity investments .............................. — — 82,098 82,098
Commingled equity and bond funds ....................... — 1,014,072 — 1,014,072
Real estate ....................................... — — 66,704 66,704
Securities lending collateral obligation and other ................ — (170,251) — (170,251)
Total ......................................... $89,260 $2,019,433 $340,633 $2,449,326
The following table presents the changes in Level 3 pension plan assets for the year ended Dec. 31, 2009:
Purchases,
Realized and Issuances, and
Unrealized Settlements
Jan. 1, 2009 Gains (Losses) (net) Dec. 31, 2009
(Thousands of Dollars)
Asset-backed & mortgage-backed securities ................... $244,008 $151,755 $(203,932) $191,831
Real estate ....................................... 109,289 (43,207) 622 66,704
Private equity investments .............................. 81,034 (5,682) 6,746 82,098
Total ......................................... $434,331 $102,866 $(196,564) $340,633
Benefit Obligations — A comparison of the actuarially computed pension-benefit obligation and plan assets, on a
combined basis, is presented in the following table:
2009 2008
(Thousands of Dollars)
Accumulated Benefit Obligation at Dec. 31 ..................................... $2,676,174 $2,435,513
Change in Projected Benefit Obligation:
Obligation at Jan. 1 .................................................... $2,598,032 $2,662,759
Service cost .......................................................... 65,461 62,698
Interest cost ......................................................... 169,790 167,881
Plan amendments ...................................................... (35,341) —
Actuarial loss (gain) ..................................................... 223,122 (47,509)
Benefit payments ...................................................... (191,433) (247,797)
Obligation at Dec. 31 ................................................... $2,829,631 $2,598,032
Change in Fair Value of Plan Assets:
Fair value of plan assets at Jan. 1 ............................................ $2,185,203 $3,186,273
Actual return (loss) on plan assets ............................................ 255,556 (788,273)
Employer contributions .................................................. 200,000 35,000
Benefit payments ...................................................... (191,433) (247,797)
Fair value of plan assets at Dec. 31 ........................................... $2,449,326 $2,185,203
Funded Status of Plans at Dec. 31:
Funded status ........................................................ $(380,305) $ (412,829)
Noncurrent assets ...................................................... — 15,612
Noncurrent liabilities .................................................... (380,305) (428,441)
Net pension amounts recognized on consolidated balance sheets ......................... $(380,305) $ (412,829)
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