Washington Post 2015 Annual Report Download - page 128
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As of December 31, 2014
(in thousands) Level 1 Level 2 Total
Cash equivalents and other short-term investments ........ $ 275,963 $141,083 $ 417,046
Equity securities
U.S. equities .................................. 1,454,011 – 1,454,011
International equities ........................... 691,505 – 691,505
Total Investments ................................. $2,421,479 $141,083 $2,562,562
Payable for settlement of investments purchased ......... (92,594)
Total ............................................ $2,469,968
Cash equivalents and other short-term investments. These investments are primarily held in U.S. Treasury
securities and registered money market funds. These investments are valued using a market approach based on
the quoted market prices of the security or inputs that include quoted market prices for similar instruments and
are classified as either Level 1 or Level 2 in the valuation hierarchy.
U.S. equities. These investments are held in common and preferred stock of U.S. corporations and American
Depositary Receipts (ADRs) traded on U.S. exchanges. Common and preferred shares and ADRs are traded
actively on exchanges, and price quotes for these shares are readily available. These investments are classified as
Level 1 in the valuation hierarchy.
International equities. These investments are held in common and preferred stock issued by non-U.S.
corporations. Common and preferred shares are traded actively on exchanges, and price quotes for these shares
are readily available. These investments are classified as Level 1 in the valuation hierarchy.
Other Postretirement Plans. The following table sets forth obligation, asset and funding information for the
Company’s other postretirement plans:
Postretirement Plans
As of December 31
(in thousands) 2015 2014
Change in Benefit Obligation
Benefit obligation at beginning of year ............... $ 41,957 $ 40,014
Service cost ..................................... 1,331 1,500
Interest cost ..................................... 1,299 1,448
Actuarial (gain) loss .............................. (5,296) 4,448
Curtailment ..................................... –(932)
Benefits paid, net of Medicare subsidy ............... (1,900) (4,521)
Benefit Obligation at End of Year .................. $ 37,391 $ 41,957
Change in Plan Assets
Fair value of assets at beginning of year .............. $–$–
Employer contributions ........................... 1,900 4,521
Benefits paid, net of Medicare subsidy ............... (1,900) (4,521)
Fair Value of Assets at End of Year ................ $–$–
Funded Status .................................. $(37,391) $(41,957)
113 GRAHAM HOLDINGS COMPANY