Medtronic 2013 Annual Report Download - page 127
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75732me_10K.indd 112 6/25/13 6:40 PM
Table of Contents
Medtronic, Inc.
Notes to Consolidated Financial Statements (Continued)
Post-Retirement Benefits
Fair Value Fair Value Measurements
at Using Inputs Considered as
(in millions) April 26, 2013 Level 1 Level 2 Level 3
Short-term investments $ 28 $ 28 $ — $ —
U.S. government securities 24 20 4 —
Corporate debt securities 9 — 9 —
Other common stock 31 31 — —
Equity mutual funds/commingled trusts 53 — 21 32
Fixed income mutual funds 10 — 10 —
Partnership units 88 — — 88
Total $ 243 $ 79 $ 44 $ 120
Other items to reconcile to fair value of plan assets (10)
$ 233
Fair Value Fair Value Measurements
at Using Inputs Considered as
(in millions) April 27, 2012 Level 1 Level 2 Level 3
Short-term investments $ 19 $ 19 $ — $ —
U.S. government securities 25 22 3 —
Corporate debt securities 6 — 6 —
Other common stock 27 27 — —
Equity mutual funds/commingled trusts 46 — 18 28
Fixed income mutual funds 9 — 9 —
Partnership units 80 — — 80
Total $ 212 $ 68 $ 36 $ 108
Other items to reconcile to fair value of plan assets (8)
$ 204
The following tables provide a reconciliation of the beginning and ending balances of post-retirement benefit assets measured at
fair value that used significant unobservable inputs (Level 3):
Equity Mutual
Total Level 3 Funds/Commingled
(in millions) Investments Trusts Partnership Units
Balance as of April 27, 2012 $ 108 $ 28 $ 80
Total realized gains (losses) included in earnings 5 4 1
Total unrealized gains (losses) included in accumulated other
comprehensive loss 4 — 4
Purchases and sales, net 3 — 3
Balance as of April 26, 2013 $ 120 $ 32 $ 88
109