Meritor Acquisition and 2022 Financial Results
Table of Contents
The reconciliation of Level 3 assets was as follows:
Fair Value Measurements
Using Significant Unobservable Inputs (Level 3)
Total
In millions
Balance at December 31, 2020
Actual return on plan assets
Private Markets
Real Assets
$
359 $
Unrealized gains on assets still held at the reporting date
Purchases, sales and settlements, net
Balance at December 31, 2021
431
144
11
155
(32)
(3)
(35)
471
80
551
72
$
Actual return on plan assets
Unrealized gains on assets still held at the reporting date
Purchases, sales and settlements, net
Assumption of Meritor's plan assets
Balance at December 31, 2022
Fair Value of U.K. Plan Assets
The fair values of U.K. pension plan assets by asset category were as follows:
6
19
25
(12)
(17)
(29)
94
94
$
559
$
82
$
641
Fair Value Measurements at December 31, 2022
Quoted prices in active
markets for identical assets
(Level 1)
Significant other
observable inputs
(Level 2)
Significant
unobservable inputs
(Level 3)
Total
In millions
Equities
U.S.
Non-U.S.
Fixed income
Government debt
Corporate debt
U.S.
Non-U.S.
Net cash equivalents (1)
Insurance annuity
$
13
9
$
13
39
222
222
27
24
80
11
24
80
38
428
428
Private markets and real assets (2)
390
390
Net plan assets subject to leveling
$
49 $
337
S
818
$
1,204
Pending trade/purchases/sales
141
Accruals (3)
2
Investments measured at net asset value
323
Net plan assets
$
1,670
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