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105
Dec. 31, 2012
(Thousands of Dollars) Level 1 Level 2 Level 3 Total
Cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 164,096 $ — $ — $ 164,096
Derivatives. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 12,955 — 12,955
Government securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 298,141 — 298,141
Corporate bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 622,597 — 622,597
Asset-backed securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 14,639 14,639
Mortgage-backed securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 39,904 39,904
Common stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73,247 — — 73,247
Private equity investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 158,498 158,498
Commingled funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 1,524,563 — 1,524,563
Real estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 64,597 64,597
Securities lending collateral obligation and other . . . . . . . . . . . . . . . . . . . . — (29,454) — (29,454)
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 237,343 $ 2,428,802 $ 277,638 $ 2,943,783
The following tables present the changes in Xcel Energy’s Level 3 pension plan assets for the years ended Dec. 31, 2013, 2012 and
2011:
(Thousands of Dollars) Jan. 1, 2013 Net Realized
Gains (Losses) Net Unrealized
Gains (Losses)
Purchases,
Issuances and
Settlements, Net Transfers Out
of Level 3 (a) Dec. 31, 2013
Asset-backed securities . . . . . . . . . . $ 14,639 $ — $ — $ — $ (14,639) $ —
Mortgage-backed securities. . . . . . . 39,904 — — — (39,904) —
Private equity investments. . . . . . . . 158,498 22,058 (24,335)(3,372) — 152,849
Real estate . . . . . . . . . . . . . . . . . . . . 64,597 (2,659) 8,690 9,317 (32,392) 47,553
Total. . . . . . . . . . . . . . . . . . . . . . . . $ 277,638 $ 19,399 $ (15,645) $ 5,945 $ (86,935) $ 200,402
(a) Transfers out of Level 3 into Level 2 were principally due to diminished use of unobservable inputs that were previously significant to these fair value
measurements and were subsequently sold during 2013.
(Thousands of Dollars) Jan. 1, 2012 Net Realized
Gains (Losses) Net Unrealized
Gains (Losses)
Purchases,
Issuances and
Settlements, Net Transfers Out
of Level 3 Dec. 31, 2012
Asset-backed securities . . . . . . . . . . $ 31,368 $ 3,886 $ (5,363) $ (15,252) $ — $ 14,639
Mortgage-backed securities. . . . . . . 73,522 1,822 (2,127)(33,313) — 39,904
Private equity investments. . . . . . . . 159,363 17,537 (22,587) 4,185 — 158,498
Real estate . . . . . . . . . . . . . . . . . . . . 37,106 19 6,048 21,424 — 64,597
Total. . . . . . . . . . . . . . . . . . . . . . . . $ 301,359 $ 23,264 $ (24,029) $ (22,956) $ — $ 277,638
(Thousands of Dollars) Jan. 1, 2011 Net Realized
Gains (Losses) Net Unrealized
Gains (Losses)
Purchases,
Issuances and
Settlements, Net Transfers Out
of Level 3 Dec. 31, 2011
Asset-backed securities . . . . . . . . . . $ 26,986 $ 2,391 $ (2,504) $ 4,495 $ — $ 31,368
Mortgage-backed securities. . . . . . . 113,418 1,103 (5,926)(35,073) — 73,522
Private equity investments. . . . . . . . 122,223 3,971 12,412 20,757 — 159,363
Real estate . . . . . . . . . . . . . . . . . . . . 73,701 (629) 20,271 (56,237) — 37,106
Total. . . . . . . . . . . . . . . . . . . . . . . . $ 336,328 $ 6,836 $ 24,253 $ (66,058) $ — $ 301,359