Pepsi 2013 Annual Report Download - page 116
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98
Plan assets measured at fair value as of fiscal year-end 2013 and 2012 are categorized consistently by level
in both years, and are as follows:
2013 2012
Total Level 1 Level 2 Level 3 Total
U.S. plan assets*
Equity securities:
U.S. common stock(a) $ 732 $ 732 $ — $ — $ 626
U.S. commingled funds(b) (c) 3,334 — 3,334 — 3,106
International common stock(a) 1,669 1,669 — — 1,597
International commingled fund(d) 902 — 902 — 948
Preferred stock(e) 18 —18—20
Fixed income securities:
Government securities(e) 1,264 — 1,264 — 1,287
Corporate bonds(e) (f) 2,958 — 2,958 — 2,962
Mortgage-backed securities(e) 220 — 220 — 110
Other:
Contracts with insurance companies(g) 6—— 627
Real estate commingled funds(h) 552 — — 552 331
Cash and cash equivalents 154 154 — — 117
Sub-total U.S. plan assets 11,809 $ 2,555 $ 8,696 $ 558 11,131
Dividends and interest receivable 59 51
Total U.S. plan assets $ 11,868 $ 11,182
International plan assets
Equity securities:
U.S. common stock(a) $4
$ 4$—$—$—
U.S. commingled funds(b) 334 — 334 — 278
International common stock(a) 176 176———
International commingled funds(d) 914 — 914 — 863
Preferred stock(e) 1— 1——
Fixed income securities:
Government securities(e) 207 — 207 — 202
Corporate bonds(e) 261 — 261 — 230
Fixed income commingled funds(i) 650 — 650 — 600
Other:
Contracts with insurance companies(g) 34 ——3435
Currency commingled fund(j) 91 —91—64
Real estate commingled fund(h) 83 ——8360
Cash and cash equivalents 15 15 — — 125
Sub-total international plan assets 2,770 $ 195 $ 2,458 $ 117 2,457
Dividends and interest receivable 76
Total international plan assets $ 2,777 $ 2,463
(a) Based on quoted market prices in active markets.
(b) Based on the fair value of the investments owned by these funds that track various U.S. large, mid-cap and small company indices.
(c) Includes one large-cap fund that represents 25% of total U.S. plan assets for both 2013 and 2012.
(d) Based on the fair value of the investments owned by these funds that track various non-U.S. equity indices.
(e) Based on quoted bid prices for comparable securities in the marketplace and broker/dealer quotes in active markets.
(f) Corporate bonds of U.S.-based companies represent 21% and 22%, respectively, of total U.S. plan assets for 2013 and 2012.
(g) Based on the fair value of the contracts as determined by the insurance companies using inputs that are not observable.
(h) Based on the appraised value of the investments owned by these funds as determined by independent third parties using inputs that are not
observable.
(i) Based on the fair value of the investments owned by these funds that track various government and corporate bond indices.
(j) Based on the fair value of the investments owned by this fund that invests primarily in derivatives to hedge currency exposure.