AIG 2014 Annual Report Download - page 329

ITEM 8 / NOTE 22. EMPLOYEE BENEFITS
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Assets Measured at Fair Value
The following table presents information about our plan assets and indicates the level of the fair value measurement
based on the observability of the inputs used. The inputs and methodology used in determining the fair value of
these assets are consistent with those used to measure our assets as discussed in Note 5 herein.
U.S. Plans Non-U.S. Plans
(in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
At December 31, 2014
Assets:
Cash and cash equivalents $80 $ - $ - $ 80 $ 50 $ - $ - $ 50
Equity securities:
U.S.(a) 1,244 239 -1,483 30 - - 30
International(b) 787 1 - 788 274 48 - 322
Fixed maturity securities:
U.S. investment grade(c) -768 8776 - - - -
International investment grade(c) - - - - 2 160 -162
U.S. and international high yield(d) -347 -347 - 61 -61
Mortgage and other asset-backed
securities(e) - 6 - 6 - - - -
Other fixed maturity securities - - - - - 10 17 27
Other investment types:
Hedge funds(f) -337 36 373 - - - -
Futures 4 - - 4 - - - -
Private equity(g) - - 228 228 - - - -
Insurance contracts -26 -26 - -56 56
Total $2,115 $1,724 $272 $4,111 $ 356 $ 279 $73 $708
At December 31, 2013
Assets:
Cash and cash equivalents $137 $ - $ - $ 137 $ 92 $ - $ - $ 92
Equity securities:
U.S.(a) 1,840 220 -2,060 26 - - 26
International(b) 189 18 - 207 254 47 - 301
Fixed maturity securities:
U.S. investment grade(c) -702 9711 - - - -
International investment grade(c) - - - - 1 163 -164
U.S. and international high yield(d) -281 -281 - 82 -82
Mortgage and other asset-backed
securities(e) - 7 - 7 - - - -
Other fixed maturity securities - - - - - 10 19 29
Other investment types:
Hedge funds(f) -297 35 332 - - - -
Futures 14 - - 14 - - - -
Private equity(g) - - 248 248 - - - -
Insurance contracts -27 -27 - -44 44
Total $2,180 $1,552 $292 $4,024 $ 373 $ 302 $63 $738
(a) Includes index funds that primarily track several indices including S&P 500 and S&P Small Cap 600 as well as other actively managed accounts composed
of investments in large cap companies.
(b) Includes investments in companies in emerging and developed markets.
(c) Represents investments in U.S. and non-U.S. government issued bonds, U.S. government agency or sponsored agency bonds, and investment grade
corporate bonds.
(d) Consists primarily of investments in securities or debt obligations that have a rating below investment grade.
(e) Comprised primarily of investments in U.S. government agency or U.S. government sponsored agency bonds.
(f) Includes funds composed of macro, event driven, long/short equity, and controlled risk hedge fund strategies and a separately managed controlled risk
strategy.
(g) Includes funds that are diverse by geography, investment strategy, sector and vintage year.