Xerox 2011 Annual Report Download - page 91
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89Xerox 2011 Annual Report
The following table presents the defined benefit plans assets measured at fair value at December 31, 2011 and the basis for that measurement:
Valuation Based on:
Quoted Prices in Significant Other Significant Total
Active Markets for Observable Unobservable Fair Value
Identical Asset Inputs Inputs December 31,
Asset Class (Level 1) (Level 2) (Level 3) 2011 % of Total
Cash and Cash Equivalents $ 578 $ — $ — $ 578 7%
Equity Securities:
U.S. Large Cap 511 50 — 561 7%
Xerox Common Stock 50 — — 50 1%
U.S. Mid Cap 90 — — 90 1%
U.S. Small Cap 83 89 — 172 2%
International Developed 1,209 481 — 1,690 21%
Emerging Markets 297 54 — 351 4%
Global Equity 7 17 — 24 —%
Total Equity Securities 2,247 691 — 2,938 36%
Debt Securities:
U.S. Treasury Securities 9 416 — 425 5%
Debt Security Issued by Government Agency 64 1,407 — 1,471 18%
Corporate Bonds 150 1,470 — 1,620 20%
Asset-Backed Securities 2 61 — 63 —%
Total Debt Securities 225 3,354 — 3,579 43%
Common/Collective Trust 3 — — 3 —%
Derivatives:
Interest Rate Contracts 18 103 — 121 1%
Foreign Exchange Contracts 14 (1) — 13 —%
Equity Contracts 23 — — 23 —%
Other Contracts 64 — — 64 1%
Total Derivatives 119 102 — 221 2%
Hedge Funds — — 3 3 —%
Real Estate 67 132 352 551 7%
Private Equity/Venture Capital — — 318 318 4%
Guaranteed Insurance Contracts — — 116 116 1%
Other(1) (48) 18 — (30) —%
Total Defined Benefit Plans Assets $ 3,191 $ 4,297 $ 789 $ 8,277 100%
(1) Other Level 1 assets include net non-financial liabilities of $(54) such as due to/from broker, interest receivables and accrued expenses.
Notes to the Consolidated
Financial Statements
(in millions, except per-share data and where otherwise noted)