Boeing 2011 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, 2011 and 2010. 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, 2011 December 31, 2010
Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3
Fixed income securities:
Corporate $13,921 $13,910 $ 11 $13,038 $13,034 $ 4
U.S. government and
agencies 4,500 4,500 3,734 3,734
Mortgage backed and
asset backed 714 703 11 880 847 33
Other 4,352 $ 215 4,134 3 3,469 $ 19 3,450
Derivatives:
Assets 25 25 18 18
Liabilities (41) (41) (20) (20)
Cash equivalents and other
short-term investments 3,187 2,634 553 2,781 2,342 439
Currency overlay derivatives:
Assets 89 89 106 106
Liabilities (94) (94) (121) (121)
Equity securities:
U.S. common and
preferred stock 4,837 4,837 4,925 4,925
Non-U.S. common and
preferred stock 6,258 6,257 1 6,414 6,367 47
Boeing company stock 1,498 1,498
Common/collective/
pooled funds 2,235 27 2,208 3,097 105 2,992
Derivatives:
Assets 44 21 21
Liabilities (5) (5) (11) (11)
Private equity 2,869 10 2,859 2,636 10 2,626
Real estate and real assets 3,110 714 29 2,367 2,488 665 5 1,818
Global strategies 2,202 2,127 75 2,015 443 1,503 69
Hedge funds 2,451 2,451 1,918 1,918
Total $50,614 $14,693 $28,144 $7,777 $48,886 $16,374 $26,044 $6,468
Cash $ 206 $ 79
Receivables 503 393
Payables (272) (106)
Total $51,051 $49,252
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