Graco 2009 Annual Report Download - page 68

Newell Rubbermaid Inc. 2009 Annual Report
66
Plan Assets
Current Allocation
The fair value of each major category of pension plan assets as of December 31, 2009 is as follows (in millions):
U.S. Non-U.S.
Quoted Prices Quoted Prices
in Active Significant in Active Significant
Markets for Other Significant % of Total Markets for Other Significant % of Total
Identical Observable Unobservable Assets as of Identical Observable Unobservable Assets as of
Assets Inputs Inputs Total December 31, Assets Inputs Inputs Total December 31,
Description (Level1) (Level 2) (Level 3) U.S. 2009 2008 (Level 1) (Level 2) (Level 3) Non-U.S. 2009 2008
Equity (1)
U.S. large cap $ — $146.1 $ — $146.1 $ 7.2 $ 19.2 $ — $ 26.4
U.S. small cap — 18.3 — 18.3 — — — —
International — 140.2 — 140.2 — 45.7 — 45.7
Total equity — 304.6 — 304.6 53% 53% 7.2 64.9 — 72.1 18% 20%
Fixed income (2)
U.S. Treasury — 28.1 — 28.1 — 1.2 — 1.2
Other government — 49.8 — 49.8 4.6 15.1 — 19.7
Asset-backed
securities — 33.9 — 33.9 — 7.4 — 7.4
Corporate bonds — 48.2 — 48.2 — 52.9 — 52.9
Short-term
investments — 30.2 — 30.2 — — — —
Total fixed income — 190.2 — 190.2 33 25 4.6 76.6 — 81.2 20 12
Insurance contracts(3) — 17.9 — 17.9 3 4 — 105.6 — 105.6 26 5
Venture capital and
partnerships (4) — 4.3 32.9 37.2 6 8 14.6 12.3 2.0 28.9 7 6
Real estate (5) — — 18.8 18.8 3 7 2.9 1.6 6.4 10.9 2 2
Cash and cash
equivalents (6) — 3.7 — 3.7 1 1 25.3 74.6 — 99.9 24 39
Other — — 4.5 4.5 1 2 — 10.4 1.6 12.0 3 16
Total $ — $520.7 $56.2 $576.9 100% 100% $54.6 $346.0 $10.0 $410.6 100% 100%
(1) Equity securities are primarily comprised of mutual funds and common/collective trust funds. Investments in mutual funds and common/collective trust funds are valued at the net asset value per share or
unit multiplied by the number of shares or units held as of the measurement date. The common/collective trust funds are generally actively managed investment vehicles.
(2) Fixed income investments are primarily comprised of mutual funds and common/collective trust funds that invest in corporate and government bonds. Investments in mutual funds and common/collective
trust funds are valued at the net asset value per share or unit multiplied by the number of shares or units held as of the measurement date. The investments in fixed income securities include both actively
managed funds and index funds.
(3) The fair values of insurance contracts are estimated based on the future cash flows to be received under the contracts discounted to the present using a discount rate that approximates the discount rate
used to measure the associated pension plan liabilities.
(4) Venture capital and partnerships are valued at net asset value, which is generally calculated using the most recent partnership financial reports.
(5) Real estate investments are generally investments in limited partnerships, real estate investment trusts and similar vehicles that invest in real estate. The values of the investments are generally based on
the most recent financial reports of the investment vehicles. The managers of each of the investment vehicles estimate the values of the real estate assets underlying the real estate investments using third
party appraisals and other valuation techniques and analysis.
(6) Cash and equivalents include investments in stable value funds. Stable value funds are generally invested in common trust funds and interest-bearing accounts.