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2013 Annual Report 72
Baker Hughes Incorporated
Notes to Consolidated Financial Statements
2013 2012
Asset Category
Total
Asset
Value
Level
One
Level
Two
Level
Three
Total
Asset
Value
Level
One
Level
Two
Level
Three
Cash and Cash Equivalents
$5$4$1$—$3$—$3$—
Fixed Income (1) 111 — 111 — 101 — 101 —
Non-U.S. Equity (2) 132 — 132 — 111 — 111 —
U.S. Equity (3) 148 — 148 — 106 — 106 —
Hedge Funds (4) 190 — — 190 172 — — 172
Real Estate Funds (5)
9—— 9 7—— 7
Real Estate Investment Trust Equity
6— 6— 8— 8—
Private Equity Fund (6) 16 — — 16 16 — — 16
Total $ 617 $ 4 $ 398 $ 215 $ 524 $ — $ 329 $ 195
(1) A multi-manager strategy investing in fixed income securities. The current allocation includes: 40% in
corporate bonds; 20% in government agencies; 15% in government bonds; 15% in government mortgage-
backed securities; 5% in municipal bonds; 3% in asset-backed securities; and 2% in cash and other
securities.
(2) Multi-manager strategy investing in common stocks of non-U.S. listed companies using both value and
growth approaches.
(3) Multi-manager strategy investing in common stocks of U.S. listed companies using value and growth
approaches.
(4) Strategies taking long and short positions in equities, fixed income securities, currencies and derivative
contracts.
(5) Strategy investing in the global private real estate secondary market using a value-based investment
approach.
(6) Partnership making opportunistic investments on a global basis across asset classes, capital structures and
geographies.
Non-U.S. Pension Plans
The investment policies of our pension plans with plan assets, which are primarily in Canada and the U.K., (the
“Non-U.S. Plans”), cover the asset allocations that the governing boards believe are the most appropriate for these
Non-U.S. Plans in the long-term, taking into account the nature of the liabilities they expect to incur. The suitability
of asset allocations and investment policies are reviewed periodically to ensure alignment with plan liabilities.