Form 10-K - Union Pacific
Form 10-K - Union Pacific
Form 10-K - Union Pacific
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As of December 31, 20<strong>10</strong>, the pension plan assets measured at fair value on a recurring basis were as<br />
follows:<br />
Quoted Prices Significant<br />
in Active Other Significant<br />
Markets for Observable Unobservable<br />
Identical Inputs Inputs Inputs<br />
Millions (Level 1) (Level 2) (Level 3) Total<br />
Plan assets:<br />
Temporary cash investments $ 23 $ - $ - $ 23<br />
Registered investment companies 9 259 - 268<br />
U.S. government securities - 142 - 142<br />
Corporate bonds & debentures - 311 - 311<br />
Corporate stock 573 7 - 580<br />
Venture capital and buyout partnerships - - 169 169<br />
Real estate partnerships and funds - - 99 99<br />
Common trust and other funds - 776 - 776<br />
Other investments - 29 - 29<br />
Total plan assets at fair value $ 605 $ 1,524 $ 268 2,397<br />
Other assets [a] 7<br />
Total plan assets $ 2,404<br />
[a] Other assets include accrued receivables and pending broker settlements.<br />
For the years ended December 31, 2011 and 20<strong>10</strong>, there were no significant transfers in or out of Levels<br />
1, 2, or 3.<br />
The following table presents a reconciliation of the beginning and ending balances of the fair value<br />
measurements using significant unobservable inputs (Level 3 investments) during 2011:<br />
Venture Capital Real Estate<br />
and Buyout Partnerships<br />
Millions Partnerships and Funds Total<br />
Beginning balance - January 1, 2011 $ 169 $ 99 $ 268<br />
Realized gain/(loss) 8 (1) 7<br />
Unrealized gain 13 16 29<br />
Purchases 22 27 49<br />
Sales (28) (15) (43)<br />
Ending balance - December 31, 2011 $ 184 $ 126 $ 3<strong>10</strong><br />
The following table presents a reconciliation of the beginning and ending balances of the fair value<br />
measurements using significant unobservable inputs (Level 3 investments) during 20<strong>10</strong>:<br />
Venture Capital Real Estate<br />
and Buyout Partnerships<br />
Millions Partnerships and Funds Total<br />
Beginning balance - January 1, 20<strong>10</strong> $ 142 $ 78 $ 220<br />
Realized gain 3 1 4<br />
Unrealized gain 21 <strong>10</strong> 31<br />
Purchases 18 18 36<br />
Sales (15) (8) (23)<br />
Ending balance - December 31, 20<strong>10</strong> $ 169 $ 99 $ 268<br />
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