Abbott Laboratories 2014 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2014 Abbott Laboratories annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

ABBOTT 2014 ANNUAL REPORT
52
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table summarizes the bases used to measure the
defined benefit and medical and dental plan assets at fair value:
(inmillions)
Outstanding
Balances
Basis of Fair Value Measurement
Quoted
Prices in
Active Markets
Significant
Other Observable
Inputs
Significant
Unobservable
Inputs
December31, 2014:
Equities:
U.S. large cap (a) $1,615 $÷«757 $÷«858 $÷«—
U.S. mid cap (b) 433 142 291 —
International (c) 1,353 445 908 —
Fixed income securities:
U.S. government securities (d) 449 10 439 —
Corporate debt instruments (e) 573 130 443 —
Non-U.S. government securities (f ) 697 286 411 —
Other (g) 130 35 95 —
Absolute return funds (h) 1,631 203 895 533
Commodities (i) 165 10 69 86
Other (j) 193 115 29 49
$7,239 $2,133 $4,438 $668
December31, 2013:
Equities:
U.S. large cap (a) $1,618 $÷«741 $÷«877 $÷«—
U.S. mid cap (b) 409 134 275 —
International (c) 1,319 608 711 —
Fixed income securities:
U.S. government securities (d) 453 61 392 —
Corporate debt instruments (e) 378 108 270 —
Non-U.S. government securities (f ) 536 305 231 —
Other (g) 77 69 8 —
Absolute return funds (h) 1,474 197 791 486
Commodities (i) 170 6 97 67
Other (j) 151 149 — 2
$6,585 $2,378 $3,652 $555
(a) A mix of index funds that track the S&P 500 (50 percent in 2014 and 60 percent in 2013) and separate actively managed equity accounts that are benchmarked to the Russell 1000
(50 percent in 2014 and 40 percent in 2013).
(b) A mix of index funds (70 percent in 2014 and 2013) and separate actively managed equity accounts (30 percent in 2014 and 2013) that track or are benchmarked to the S&P 400 midcap index.
(c) A mix of index funds (20 percent in 2014 and 0 percent in 2013) and separate actively managed pooled investment funds (80 percent in 2014 and 100 percent in 2013) that track or
are benchmarked to the MSCI EAFE and MSCI emerging market indices.
(d) A mix of index funds that track the Barclays U.S. Gov’t Aggregate (65 percent in 2014 and 50 percent in 2013) and separate actively managed accounts (35 percent in 2014 and
50 percent in 2013) that are benchmarked to Barclays U.S. Long Gov’t/Corp Index or the Barclays Global Aggregate.
(e) A mix of index funds that track the Barclays U.S. Gov’t Aggregate (15 percent in 2014 and 40 percent in 2013) and separate actively managed accounts (85 percent in 2014 and
60 percent in 2013) that are benchmarked to Barclays U.S. Long Gov’t/Corp Index or the Barclays Global Aggregate.
(f ) Primarily United Kingdom, Japan, Netherlands and Irish government-issued bonds.
(g) Primarily mortgage backed securities (40 percent in 2014 and 100 percent in 2013) and an actively managed, diversified fixed income vehicle benchmarked to the one-month
Libor/Euribor (60 percent in 2014 and 0 percent in 2013).
(h) Primarily funds invested by managers that have a global mandate with the flexibility to allocate capital broadly across a wide range of asset classes and strategies including, but not
limited to equities, fixed income, commodities, interest rate futures, currencies and other securities to outperform an agreed upon benchmark with specific return and volatility targets.
(i) Primarily investments in liquid commodity future contracts and private energy funds.
(j) Primarily cash and cash equivalents (75 percent in 2014 and 100 percent in 2013) and investment in real estate funds (25 percent in 2014 and 0 percent in 2013).