Medtronic 2012 Annual Report Download - page 129

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Medtronic, Inc.
Notes to Consolidated Financial Statements (Continued)
112
Fair Value Fair Value Measurements
at Using Inputs Considered as
_______________________________________
(in millions) April 29, 2011 Level 1 Level 2 Level 3
___________ _____________ __________ __________ __________
Short-term investments . . . . . . . . . . . . . . . . . . . . $ 186 $ 186 $ – $ –
U.S. government securities . . . . . . . . . . . . . . . . . 118 74 44 –
Corporate debt securities . . . . . . . . . . . . . . . . . . 82 – 82 –
Other common stock . . . . . . . . . . . . . . . . . . . . . . 201 201 ––
Equity mutual funds/commingled trusts . . . . . . 309 – 67 242
Fixed income mutual funds . . . . . . . . . . . . . . . . . 53 – 53 –
Partnership units . . . . . . . . . . . . . . . . . . . . . . . . . . 443 – – 443
_____________ __________ __________ __________
$ 1,392 $ 461 $ 246 $ 685
_____________ __________ __________ __________
_____________ __________ __________ __________
The following table provides a reconciliation of the beginning and ending balances of U.S. pension
benefits assets measured at fair value that used significant unobservable inputs (Level 3):
April 27, April 29,
(in millions) 2012 2011
___________ ________ ________
Beginning Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 685 $ 601
Total realized gains/(losses) and other-than-temporary
impairment (losses), net included in earnings . . . . . . . . . . . . . . . . . . . . . . 17 5
Total unrealized (losses)/gains included in accumulated other
comprehensive loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (17) 78
Purchases, issuances, and settlements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 1
________ ________
Ending Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 752 $ 685
________ ________
________ ________
Non-U.S. Benefits
Fair Value Fair Value Measurements
at Using Inputs Considered as
_______________________________________
(in millions) April 27, 2012 Level 1 Level 2 Level 3
___________ _____________ __________ __________ __________
Registered investment companies . . . . . . . . . . . $ 622 $ –$622 $ –
Insurance contracts . . . . . . . . . . . . . . . . . . . . . . . 9– – 9
Partnership units . . . . . . . . . . . . . . . . . . . . . . . . . . 7– – 7
_____________ __________ __________ __________
$ 638 $ –$622 $ 16
_____________ __________ __________ __________
_____________ __________ __________ __________
Fair Value Fair Value Measurements
at Using Inputs Considered as
_______________________________________
(in millions) April 29, 2011 Level 1 Level 2 Level 3
___________ _____________ __________ __________ __________
Registered investment companies . . . . . . . . . . . $ 590 $ –$590 $ –
Insurance contracts . . . . . . . . . . . . . . . . . . . . . . . 9– – 9
Partnership units . . . . . . . . . . . . . . . . . . . . . . . . . . 7– – 7
_____________ __________ __________ __________
$ 606 $ –$590 $ 16
_____________ __________ __________ __________
_____________ __________ __________ __________
The following table provides a reconciliation of the beginning and ending balances of non-U.S. pension
benefits assets measured at fair value that used significant unobservable inputs (Level 3):
April 27, April 29,
(in millions) 2012 2011
___________ ________ ________
Beginning Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 16 $ 7
Foreign currency exchange . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) 1
Purchases, issuances, and settlements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
________ ________
Ending Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 16 $ 16
________ ________
________ ________