Policy

The following table presents the Japanese defined benefit pension plans’ major asset categories and their associated fair values as of June 28, 2013 (in millions):


	Level 1		Level 2		Level 3		Total
Equity:
Equity commingled/mutual funds ⁽²⁾⁽³⁾	$	—	$	60	$	—	$	60
Fixed income:
Fixed income commingled/mutual funds ⁽²⁾⁽⁵⁾		—		101		—		101
Cash and short-term investments ⁽²⁾		4		2		—		6

Fair value of plan assets	$	4	$	163	$	—	$	167

The following table presents the Japanese defined benefit pension plans’ major asset categories and their associated fair values as of June 29, 2012 (in millions):


	Level 1		Level 2		Level 3		Total
Equity:
Equity securities ⁽¹⁾	$	4	$	—	$	—	$	4
Equity commingled/mutual funds ⁽²⁾⁽³⁾		—		45		—		45
Fixed income:
Government and related ⁽⁴⁾		1		12		—		13
Fixed income commingled/mutual funds ⁽²⁾⁽⁵⁾		—		77		—		77
Other securities ⁽⁶⁾		—		9		—		9
Cash and short-term investments ⁽²⁾		8		4		—		12
Alternative investments:
Other ⁽⁷⁾		—		—		7		7

Fair value of plan assets	$	13	$	147	$	7	$	167

⁽¹⁾	Includes direct investments in equity of domestic and foreign companies, including those in developing countries.

⁽²⁾	Commingled funds represent pooled institutional investments.

⁽³⁾	Equity mutual funds invest primarily in equity securities.

⁽⁴⁾	Includes debt issued by national, state or local governments and related agencies.

⁽⁵⁾	Fixed income mutual funds invest primarily in fixed income securities.

⁽⁶⁾	Other securities include corporate bonds, insurance contracts and mortgage-backed securities.

⁽⁷⁾	Includes investments in hedge funds, venture capital funds, limited partnerships, private real estate, bank capital and collateral debt obligations such as private placement real estate funds.

WESTERN DIGITAL CORP | 2013 | FY |

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