JP Morgan Chase 2013 Annual Report Download - page 239

JPMorgan Chase & Co./2013 Annual Report 245
Changes in level 3 fair value measurements using significant unobservable inputs
Year ended December 31, 2013
(in millions)
Fair value,
January 1,
2013
Actual return on plan assets Purchases, sales
and settlements,
net
Transfers in
and/or out
of level 3
Fair value,
December 31,
2013
Realized
gains/(losses) Unrealized gains/(losses)
U.S. defined benefit pension plans
Equities $ 4 $ — $ — $ — $ — $ 4
Common/collective trust funds 199 59 (32) (222) — 4
Limited partnerships:
Hedge funds 1,166 137 14 (593) (6) 718
Private equity 1,743 108 170 (4) (48) 1,969
Real estate 467 21 44 26 — 558
Real assets 311 4 12 (98) 42 271
Total limited partnerships 3,687 270 240 (669) (12) 3,516
Corporate debt securities 1 — — — 6 7
Other 420 — 10 — — 430
Total U.S. defined benefit pension plans $ 4,311 $ 329 $ 218 $ (891) $ (6) $ 3,961
OPEB plans
COLI $ 1,554 $ — $ 195 $ — $ — $ 1,749
Total OPEB plans $ 1,554 $ — $ 195 $ — $ — $ 1,749
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. defined benefit pension plans $ 3,608 $ 78 $ 150 $ 471 $ 4 $ 4,311
OPEB plans
COLI $ 1,427 $ — $ 127 $ — $ — $ 1,554
Total OPEB plans $ 1,427 $ — $ 127 $ — $ — $ 1,554