Staples 2013 Annual Report Download - page 167

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STAPLES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (continued)
C-36
Information on Fair Value of Plan Assets
The fair values of the Company's pension plan assets at February 1, 2014 and February 2, 2013 by asset category are as
follows (in thousands):
February 1, 2014
U.S. Pension Plans International Plans
Quoted
Prices in
Active
Markets for
Identical
Assets
Significant
Other
Observable
Inputs
Unobservable
Inputs
Quoted
Prices in
Active
Markets for
Identical
Assets
Significant
Other
Observable
Inputs
Unobservable
Inputs
Asset Category:
Fair
Market
Value Level 1 Level 2 Level 3
Fair Market
Value Level 1 Level 2 Level 3
Equity securities
(1) $ 14,451 $ 14,451 $ — $ — $ 304,902 $ 220,149 $ 61,131 $ 23,622
Debt securities (2) 17,785 8,900 — 8,885 707,082 484,888 216,087 6,107
Real estate (3) 1,131 1,131 — — 80,604 77,803 2,801 —
Cash 12 12 — — 25,939 15,120 10,819 —
Other (4) — — — — 22,619 2,760 (785) 20,644
Total $ 33,379 $ 24,494 $ — $ 8,885 $1,141,146 $ 800,720 $ 290,053 $ 50,373
February 2, 2013
U.S. Pension Plans International Plans
Quoted
Prices in
Active
Markets for
Identical
Assets
Significant
Other
Observable
Inputs
Unobservable
Inputs
Quoted
Prices in
Active
Markets for
Identical
Assets
Significant
Other
Observable
Inputs
Unobservable
Inputs
Asset Category:
Fair
Market
Value Level 1 Level 2 Level 3
Fair Market
Value Level 1 Level 2 Level 3
Equity securities
(1) $ 12,283 $ 12,283 $ — $ — $ 313,213 $ 291,260 $ — $ 21,953
Debt securities (2) 17,460 7,742 — 9,718 660,775 534,212 119,576 6,987
Real estate (3) 2,438 2,438 — — 82,217 79,021 3,196 —
Cash 92 92 — — 52,112 27,970 24,142 —
Other (4) — — — — 57,241 12,523 22,617 22,101
Total $ 32,273 $ 22,555 $ — $ 9,718 $1,165,558 $ 944,986 $ 169,531 $ 51,041
(1) This category includes investments in equity securities of large, small and medium sized companies in the U.S. and in
foreign companies, including those in developing countries. The funds are valued using the net asset value method in
which an average of the market prices for the underlying investments is used to value the fund. For securities with
unobservable inputs, the value is based on audited statements for the underlying fund.
(2) This category includes investments in investment grade fixed income instrument, U.S. dollar denominated debt securities
of emerging market issuers and high yield fixed-income securities that are rated below investment grade. The funds are
valued using the net asset value method in which an average of the market prices for the underlying investments is issued
to value the fund. For securities with unobservable inputs, the value is based on discounted future cash flows.
(3) This category includes investments in mortgage-backed and asset-backed securities. The funds are valued using the net
asset value method in which an average of the market prices for the underlying investments is used to value the fund.
(4) This category includes commodities of approximately $(1.3) million and $22.8 million and non-separated investments
with insurance companies of approximately $2.6 million and $12.4 million for the years ended February 1, 2014 and
February 2, 2013 respectively. Commodities are valued using the net asset value method in which an average of the
market prices for the underlying investments is used; the insurance contracts are based on discounted future cash flows.