JP Morgan Chase 2015 Annual Report Download - page 240

Notes to consolidated financial statements
230 JPMorgan Chase & Co./2015 Annual Report
Changes in level 3 fair value measurements using significant unobservable inputs
Year ended December 31, 2015
(in millions)
Fair value,
January 1,
2015
Actual return on plan assets Purchases, sales
and settlements,
net
Transfers in
and/or out
of level 3
Fair value,
December 31,
2015
Realized
gains/(losses)
Unrealized
gains/(losses)
U.S. defined benefit pension plans
Equities $4$ —$ (2)$ —$—$ 2
Corporate debt securities 9— — (7)—2
Mortgage-backed securities 1— — ——1
Other 337 — 197 — — 534
Total U.S. defined benefit pension plans $ 351 $ — $ 195 $ (7) $ — $ 539
OPEB plans
COLI $ 1,903 $ — $ (48) $ — $ — $ 1,855
Total OPEB plans $ 1,903 $ — $ (48) $ — $ — $ 1,855
Year ended December 31, 2014
(in millions)
Fair value,
January 1,
2014
Actual return on plan assets Purchases, sales
and settlements,
net
Transfers in
and/or out
of level 3
Fair value,
December 31,
2014
Realized
gains/(losses)
Unrealized
gains/(losses)
U.S. defined benefit pension plans
Equities $ 4 $ — $ — $ — $ — $ 4
Corporate debt securities 7 (2) 2 4 (2) 9
Mortgage-backed securities — — — 1 — 1
Other 430 — (93) — — 337
Total U.S. defined benefit pension plans $ 441 $ (2) $ (91) $ 5 $ (2) $ 351
OPEB plans
COLI $ 1,749 $ — $ 154 $ — $ — $ 1,903
Total OPEB plans $ 1,749 $ — $ 154 $ — $ — $ 1,903
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
Corporate debt securities 1 — — — 6 7
Mortgage-backed securities — — — — — —
Other 420 — 10 — — 430
Total U.S. defined benefit pension plans $ 425 $ — $ 10 $ — $ 6 $ 441
OPEB plans
COLI $ 1,554 $ — $ 195 $ — $ — $ 1,749
Total OPEB plans $ 1,554 $ — $ 195 $ — $ — $ 1,749
Estimated future benefit payments
The following table presents benefit payments expected to be paid, which include the effect of expected future service, for the
years indicated. The OPEB medical and life insurance payments are net of expected retiree contributions.
Year ended December 31,
(in millions)
U.S. defined benefit
pension plans
Non-U.S. defined
benefit pension plans
OPEB before Medicare
Part D subsidy
Medicare Part D
subsidy
2016 $ 762 $ 107 $ 68 $ 1
2017 798 110 66 1
2018 927 119 63 1
2019 966 123 61 1
2020 1,009 129 59 1
Years 2021–2025 4,409 722 259 4