DuPont 2009 Annual Report Download - page 98

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E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)
The table below presents the fair values of the company’s pension assets by level within the fair value hierarchy, as
described in Note 1, as of December 31, 2009.
Fair Value Measurements at December 31, 2009
Asset Category Total Level 1 Level 2 Level 3
Cash and cash equivalents $ 2,789 $ 2,734 $ 55 $ -
U.S. equity securities(a) 3,735 3,720 11 4
Non-U.S. equity securities 3,672 3,661 11 -
Debt – government issued 1,487 112 1,375 -
Debt – corporate issued 1,985 284 1,650 51
Debt – asset-backed 919 - 911 8
Private market securities 1,998 18 - 1,980
Real estate 970 84 1 885
Derivatives – asset position 46 1 45 -
Derivatives – liability position (38) - (38) -
Other 30 11 19 -
$17,593 $10,625 $4,040 $2,928
Pension trust receivables(b) 752
Pension trust payables(c) (1,202)
Total $17,143
(a) The company’s pension plans directly held $336 (2 percent of total plan assets) and $252 (2 percent of total plan assets) of DuPont common
stock at December 31, 2009 and 2008, respectively.
(b) Primarily receivables for investment securities sold.
(c) Primarily payables for investment securities purchased.
The company’s pension plans hold Level 3 assets which are primarily ownership interests in investment partnerships
and trusts that own private market securities and real estate. Fair value is generally based on the company’s units of
ownership and net asset value of the investment entity or the company’s share of the investment entity’s total equity.
The table below presents a rollforward of activity for these assets between December 31, 2008 and December 31, 2009:
Level 3 Assets
Debt- Private
U.S. Equity Corporate Debt-Asset Market
Total Securities Issued Backed Securities Real Estate
Beginning balance at
December 31, 2008 $3,431 $12 $127 $13 $3,166 $ 113
Realized gain/(loss) 24 - (1) 1 24 -
Change in unrealized gain/(loss) (606) (8) (32) - (428) (138)
Purchases, sales and settlements 92 - (34) (2) (782) 910
Transfers in/out of Level 3 (13) - (9) (4) - -
Ending balance at December 31,
2009 $2,928 $ 4 $ 51 $ 8 $1,980 $ 885
F-40