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90
Fair Value Measurements The following table presents our plan assets using the fair value hierarchy as
of December 31, 2013 and 2012. 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 unobservable inputs.
December 31, 2013 December 31, 2012
Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3
Fixed income securities:
Corporate $15,262 $15,238 $24 $14,363 $14,360 $3
U.S. government and
agencies 4,537 4,537 4,921 4,921
Mortgage backed and
asset backed 1,040 491 549 752 191 561
Municipal 1,722 1,722 1,770 1,770
Sovereign 1,018 1,018 1,045 1,045
Common/collective/pooled
funds 2,538 $16 2,522 2,346 $17 2,329
Other (1) 484 229 255 220 1 219
Derivatives:
Assets 55 55 36 1 35
Liabilities (10) (10) (23) (23)
Cash equivalents and other
short-term investments 801 801 2,687 2,224 463
Currency overlay derivatives:
Assets 2256 56
Liabilities (3) (3) (55) (55)
Equity securities:
U.S. common and
preferred stock 6,919 6,919 6,144 6,144
Non-U.S. common and
preferred stock 7,722 7,721 1 7,421 7,421
Common/collective/pooled
funds 3,239 564 2,675 2,294 344 1,950
Derivatives:
Assets 4419 19
Liabilities (6) (6) (9) (9)
Private equity (1) 2,968 10 2,958 2,942 26 2,916
Real estate and real assets:
Real estate 2,865 425 16 2,424 2,765 623 14 2,128
Real assets 1,506 336 464 706 1,327 286 377 664
Derivatives:
Assets 1111
Liabilities (1) (1) (2) (2)
Global strategies 2,355 2,355 2,147 2,147
Hedge funds 2,776 1,667 1,109 2,736 1,263 1,473
Total $57,794 $15,991 $33,777 $8,026 $55,903 $17,087 $31,071 $7,745
Cash $87 $94
Receivables 458 388
Payables (208) (207)
Total $58,131 $56,178
(1) Certain private funds with a fixed income strategy were reclassified from private equity to other fixed
income on January 1, 2013.