United Airlines 2013 Annual Report Download - page 91

Table of Contents
The following tables present information about the United’s pension and other postretirement plan assets at December 31 (in millions):
 
Pension Plan Assets:        
Equity securities funds $1,158 $ 389 $ 769 $ — $ 1,034 $ 383 $ 651 $ —
Fixed-income securities 702 — 698 4 611 — 609 2
Alternatives 405 — 199 206 394 — 234 160
Insurance contract 26 — — 26 36 — — 36
Other investments 106 — 106 — 82 — 82 —
Total $2,397 $ 389 $1,772 $ 236 $ 2,157 $ 383 $1,576 $ 198
Other Postretirement Benefit Plan
Assets:
Deposit administration fund $57 $ — $ — $57 $58 $ — $ — $58
 Equity securities include investments in both developed market and emerging market equity securities. Fixed-income
securities include primarily U.S. and non-U.S. government fixed-income securities and U.S. and non-U.S corporate fixed-income securities along with asset-
backed securities.
 Each of these investments are stable value investment products structured to provide investment
income.
Alternative investments consist primarily of investments in hedge funds, real estate and private equity interests.
Other investments consist primarily of investments in currency and commodity commingled funds.
The reconciliation of United’s defined benefit plan assets measured at fair value using unobservable inputs (Level 3) for the years ended December 31, 2013
and 2012 is as follows (in millions):
 
Balance at beginning of year $ 256 $ 249
Actual return on plan assets:
Sold during the year 15 —
Held at year end 7 (47)
Purchases, sales, issuances and settlements (net) 15 54
Balance at end of year $ 293 $ 256
Funding requirements for tax-qualified defined benefit pension plans are determined by government regulations. United’s contributions reflected above have
satisfied its required contributions through the 2013 calendar year. Expected 2014 employer contributions to all of United’s pension and postretirement plans
are $288 million and $120 million, respectively.
91