Dow Chemical 2012 Annual Report Download - page 146

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The following tables summarize the bases used to measure the Company’s pension plan assets at fair value for the years
ended December 31, 2012 and 2011:
Basis of Fair Value Measurements of
Pension Plan Assets at December 31, 2012
Quoted Prices
in Active
Markets for
Identical Items
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
In millions (Level 1) (Level 2) (Level 3) Total
Cash and cash equivalents $ 20 $ 599 $ — $ 619
Equity securities:
U.S. equity (1) $ 2,143 $ 318 $ — $ 2,461
Non-U.S. equity – developed countries 1,989 1,203 4 3,196
Emerging markets 728 487 9 1,224
Convertible bonds — 243 — 243
Equity derivatives 319—22
Total equity securities $ 4,863 $ 2,270 $ 13 $ 7,146
Fixed income securities:
U.S. government and municipalities $ — $ 1,464 $ 2 $ 1,466
U.S. agency and agency mortgage-backed
securities — 432 — 432
Corporate bonds – investment grade — 1,626 — 1,626
Non-U.S. governments – developed countries — 1,039 1 1,040
Non-U.S. corporate bonds – developed countries — 802 1 803
Emerging market debt —72—72
Other asset-backed securities — 122 15 137
High yield bonds — 287 21 308
Other fixed income funds — 228 218 446
Fixed income derivatives 1 119 — 120
Total fixed income securities $ 1 $ 6,191 $ 258 $ 6,450
Alternative investments:
Real estate $ 32 $ 30 $ 1,224 $ 1,286
Private equity — — 991 991
Absolute return — 527 300 827
Total alternative investments $ 32 $ 557 $ 2,515 $ 3,104
Other investments $ — $ 364 $ 42 $ 406
Total pension plan assets at fair value $ 4,916 $ 9,981 $ 2,828 $ 17,725
(1) Includes no Company common stock.