JP Morgan Chase 2012 Annual Report Download - page 229

JPMorgan Chase & Co./2012 Annual Report 239
Changes in level 3 fair value measurements using significant unobservable inputs
Year ended December 31, 2012
(in millions)
Fair value,
January 1,
2012
Actual return on plan assets Purchases, sales
and settlements,
net
Transfers in
and/or out
of level 3
Fair value,
December 31,
2012
Realized
gains/(losses)
Unrealized
gains/(losses)
U.S. defined benefit pension plans
Equities $ 1 $ — $ (1) $ — $ 4 $ 4
Common/collective trust funds 202 2 22 (27) — 199
Limited partnerships:
Hedge funds 1,039 1 71 55 — 1,166
Private equity 1,367 59 54 263 — 1,743
Real estate 306 16 1 144 — 467
Real assets 264 — 10 37 — 311
Total limited partnerships 2,976 76 136 499 — 3,687
Corporate debt securities 2 — — (1) — 1
Other 427 — (7) — — 420
Total U.S. plans $ 3,608 $ 78 $ 150 $ 471 $ 4 $ 4,311
Non-U.S. defined benefit pension plans
Other $ — $ — $ — $ — $ — $ —
Total non-U.S. plans $ — $ — $ — $ — $ — $ —
OPEB plans
COLI $ 1,427 $ — $ 127 $ — $ — $ 1,554
Total OPEB plans $ 1,427 $ — $ 127 $ — $ — $ 1,554
Year ended December 31, 2011
(in millions)
Fair value,
January 1,
2011
Actual return on plan assets Purchases, sales
and settlements,
net
Transfers in
and/or out
of level 3
Fair value,
December 31,
2011
Realized
gains/(losses)
Unrealized
gains/(losses)
U.S. defined benefit pension plans
Equities $ — $ — $ — $ — $ 1 $ 1
Common/collective trust funds 194 35 1 (28) — 202
Limited partnerships:
Hedge funds 1,160 (16) 27 (76) (56) 1,039
Private equity 1,232 56 2 77 — 1,367
Real estate 304 8 40 14 (60) 306
Real assets — 5 (7) 150 116 264
Total limited partnerships 2,696 53 62 165 — 2,976
Corporate debt securities 1 — — 1 — 2
Other 387 — 41 (1) — 427
Total U.S. plans $ 3,278 $ 88 $ 104 $ 137 $ 1 $ 3,608
Non-U.S. defined benefit pension plans
Other $ — $ — $ — $ — $ — $ —
Total non-U.S. plans $ — $ — $ — $ — $ — $ —
OPEB plans
COLI $ 1,381 $ — $ 70 $ (24) $ — $ 1,427
Total OPEB plans $ 1,381 $ — $ 70 $ (24) $ — $ 1,427