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ABBOTT 2015 ANNUAL REPORT
52
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table summarizes the basis 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, 2015:
Equities:
U.S. large cap (a) $1,770 $1,078 $÷«692 $÷«—
U.S. mid cap (b) 434 84 350 —
International (c) 1,193 245 948 —
Fixed income securities:
U.S. government securities(d) 401 5 396 —
Corporate debt instruments(e) 731 109 543 79
Non-U.S. government securities (f) 497 111 384 2
Other (g) 136 28 108 —
Absolute return funds (h) 1,777 101 917 759
Commodities (i) 107 7 25 75
Other (j) 167 21 65 81
$7,213 $1,789 $4,428 $996
December31, 2014:
Equities:
U.S. large cap (a) $1,738 $÷«860 $÷«878 $÷«—
U.S. mid cap (b) 433 142 291 —
International (c) 1,230 342 888 —
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
(a) A mix of index funds that track the S&P500 (35 percent in 2015 and 50percent in 2014) and separate actively managed equity accounts that are benchmarked to the Russell 1000 (65 percent
in 2015 and 50percent in 2014).
(b) A mix of index funds (80 percent in 2015 and 70 percent in 2014) and separate actively managed equity accounts (20 percent in 2015 and 30 percent in 2014) that track or are benchmarked to
the S&P400 midcap index.
(c) A mix of index funds (30 percent in 2015 and 20 percent in 2014) and separate actively managed pooled investment funds (70 percent in 2015 and 80 percent in 2014) that track or are bench-
marked to the MSCI EAFE and MSCI emerging market indices.
(d) A mix of index funds that track the Barclays U.S. Gov’t Aggregate (70 percent in 2015 and 65 percent in 2014) and separate actively managed accounts (30 percent in 2015 and 35 percent in
2014) 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 (10 percent in 2015 and 15percent in 2014) and separate actively managed accounts (90 percent in 2015 and 85percent in
2014) 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 2015 and 2014) and an actively managed, diversified fixed income vehicle benchmarked to the one-month Libor / Euribor (60 percent in
2015 and 2014).
(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 (50 percent in 2015 and 75 percent in 2014) and investment in private equity funds (50 percent in 2015 and 25 percent in 2014).