Safeway 2010 Annual Report Download - page 78

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SAFEWAY INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
The fair value of Safeway’s pension plan assets at January 2, 2010, excluding pending transactions of $32.2 million, by
asset category are as follows (in millions):
Fair Value Measurements
Asset category: Total
Quoted prices in
active markets
for identical
assets
(Level 1)
Significant
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3)
Cash and cash equivalents $ 12.8 $ 11.5 $ 1.3 $ –
Short-term investment collective trust 21.7 – 21.7 –
Common and preferred stock:
Domestic common and preferred stock 440.7 440.1 0.6 –
International common stock 32.8 32.8 – –
Common collective trust funds 680.8 – 680.8 –
Corporate bonds 89.5 – 86.6 2.9
Mortgage- and other-asset backed securities 49.0 – 46.5 2.5
Mutual funds 31.0 31.0 – –
U.S. government securities 162.7 – 162.5 0.2
Other securities 18.9 – 18.7 0.2
Total $1,539.9 $515.4 $1,018.7 $5.8
See Note F for a discussion of levels, inputs and valuation techniques.
A reconciliation of the beginning and ending balances for Level 3 assets for the year ended January 2, 2010 follows (in
millions):
Fair Value Measured Using Significant
Unobservable Inputs (Level 3)
Total
Corporate
bonds
Mortgage-
and other-
asset
backed
securities
U.S.
government
securities
Other
securities
Balance as of January 3, 2009 $ 1.5 $ 0.6 $ 1.1 $ 0.3 $(0.5)
Purchases, sales, settlements, net 3.3 2.5 0.4 (0.1) 0.5
Transfers in and/or out of Level 3 1.6 – 1.6 – –
Realized (losses) gains (0.9) (0.5) (0.6) – 0.2
Unrealized gains 0.3 0.3 – – –
Balance as of January 2, 2010 $ 5.8 $ 2.9 $ 2.5 $ 0.2 $ 0.2
Contributions Safeway expects to contribute approximately $175 million to its defined benefit pension plan and post-
retirement benefit plans in 2011.
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