CATERPILLAR INC | 2013 | FY | 3


Below are roll-forwards of assets measured at fair value using Level 3 inputs for the years ended December 31, 2013, 2012 and 2011.  These instruments were valued using pricing models that, in management’s judgment, reflect the assumptions a market participant would use.
 
(Millions of dollars)
 
Equities
 
Fixed Income
 
Real Estate
 
Other
U.S. Pension
 
 

 
 

 
 

 
 

Balance at December 31, 2010
 
$
50

 
$
48

 
$
10

 
$

Unrealized gains (losses)
 
(4
)
 
(2
)
 
(2
)
 

Realized gains (losses)
 
1

 

 

 

Purchases, issuances and settlements, net
 
30

 
17

 

 

Transfers in and/or out of Level 3
 

 
(12
)
 

 

Balance at December 31, 2011
 
$
77

 
$
51

 
$
8

 
$

Unrealized gains (losses)
 
(4
)
 

 

 
(1
)
Realized gains (losses)
 
4

 
2

 

 

Purchases, issuances and settlements, net
 
21

 
(4
)
 

 
1

Transfers in and/or out of Level 3
 

 
(4
)
 

 

Balance at December 31, 2012
 
$
98

 
$
45

 
$
8

 
$

Unrealized gains (losses)
 
10

 
(1
)
 

 

Realized gains (losses)
 
4

 

 

 

Purchases, issuances and settlements, net
 
17

 
12

 

 

Transfers in and/or out of Level 3
 

 
(2
)
 

 

Balance at December 31, 2013
 
$
129

 
$
54

 
$
8

 
$

 
 
 
 
 
 
 
 
 
Non-U.S. Pension
 
 

 
 

 
 

 
 

Balance at December 31, 2010
 
$
1

 
$
8

 
$
90

 
$
35

Unrealized gains (losses)
 

 
1

 
7

 

Realized gains (losses)
 

 

 

 
3

Purchases, issuances and settlements, net
 
(1
)
 

 

 
(38
)
Transfers in and/or out of Level 3
 

 

 

 

Balance at December 31, 2011
 
$

 
$
9

 
$
97

 
$

Unrealized gains (losses)
 

 

 
8

 

Realized gains (losses)
 

 

 

 

Purchases, issuances and settlements, net
 

 
(1
)
 
(1
)
 

Transfers in and/or out of Level 3
 

 
(3
)
 

 

Balance at December 31, 2012
 
$

 
$
5

 
$
104

 
$

Unrealized gains (losses)
 

 

 
7

 

Realized gains (losses)
 

 

 

 

Purchases, issuances and settlements, net
 

 
16

 

 

Transfers in and/or out of Level 3
 

 

 

 

Balance at December 31, 2013
 
$

 
$
21

 
$
111

 
$

 
 
 
 
 
 
 
 
 

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