Boeing 2010 Annual Report Download - page 101

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Fair Value Measurements The following table presents our plan assets using the fair value hierarchy
as of December 31, 2010 and 2009. The fair value hierarchy has three levels based on the reliability of
the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices
in active markets for identical assets. Level 2 refers to fair values estimated using significant other
observable inputs, and Level 3 includes fair values estimated using significant non-observable inputs.
December 31, 2010 December 31, 2009
Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3
Fixed income securities:
Corporate $13,038 $13,034 $ 4 $13,259 $13,254 $ 5
U.S. government and
agencies 3,734 3,734 3,886 3,886
Mortgage backed and asset
backed 880 847 33 916 893 23
Other 3,469 $ 19 3,450 2,628 $ 19 2,609
Derivatives:
Assets 18 18 33 33
Liabilities (20) (20) (93) (93)
Cash equivalents and other
short-term investments 2,781 2,342 439 2,068 1,679 389
Currency overlay derivatives:
Assets 106 106 107 107
Liabilities (121) (121) (94) (94)
Equity securities:
U.S. common and preferred
stock 4,925 4,925 4,691 4,691
Non-U.S. common and
preferred stock 6,414 6,367 47 6,703 6,634 69
Boeing company stock 1,498 1,498 1,581 1,581
Common/collective/pooled
funds 3,097 105 2,992 2,574 89 2,485
Derivatives:
Assets 21 21 99
Liabilities (11) (11) (10) (10)
Private equity 2,636 10 2,626 2,300 9 2,291
Real estate and real assets 2,488 665 5 1,818 1,784 442 5 1,337
Global strategies 2,015 443 1,503 69 1,676 484 1,192
Hedge funds 1,918 1,918 1,347 336 1,011
Total $48,886 $16,374 $26,044 $6,468 $45,365 $15,628 $25,070 $4,667
Cash $79 $ 125
Receivables 393 641
Payables (106) (321)
Total $49,252 $45,810
Fixed income securities are primarily valued using a market approach with inputs that include broker
quotes, benchmark yields, base spreads and reported trades.
Cash equivalents and other short-term investments, which are used to pay benefits, are primarily held in
registered money market funds which are valued using a market approach based on the quoted market
prices of identical instruments. Other cash equivalent and short-term investments are valued daily by the
fund using a market approach with inputs that include quoted market prices for similar instruments.
89