46 Eme r s on 2013 Ann u al R e por t The fair values of defned beneft plan assets as of September 30 organized by asset class and by the fair value hierarchy of ASC 820 as outlined in Note 1 follow level 1 level 2 level 3 total percentage 2013 US equities 1078 560 121 1759 35 International equities 563 632 1195 24 Emerging market equities 263 263 5 Corporate bonds 524 524 10 Government bonds 22 614 636 13 High yield bonds 159 159 3 Other 178 168 129 475 10 Total 1841 2920 250 5011 100 2012 US equities 926 559 129 1614 35 International equities 442 495 937 21 Emerging market equities 68 197 265 6 Corporate bonds 528 528 12 Government bonds 551 551 12 High yield bonds 148 148 3 Other 183 181 121 485 11 Total 1619 2659 250 4528 100 a sset c lasses US Equities refects companies domiciled in the US including multinational companies International Equities is comprised of companies domiciled in developed nations outside the US Emerging Market Equities is comprised of companies domiciled in portions of Asia Eastern Europe and Latin America Corporate Bonds represents investmentgrade debt of issuers primarily from the US Government Bonds includes investmentgrade instruments issued by federal state and local governments primarily in the US High Yield Bonds includes noninvestmentgrade debt from a diverse group of developed market issuers Other includes cash interests in mixed asset funds investing in commodities natural resources agriculture and exchangetraded real estate funds life insurance contracts US and shares in certain general investment funds of fnancial institutions or insurance arrangements nonUS that typically ensure no market losses or provide for a small minimum return guarantee Fair v alue h ierarchy c ategories Valuations of Level 1 assets for all classes are based on quoted closing market prices from the principal exchanges where the individual securities are traded Cash is valued at cost which approximates fair value Equity securities categorized as Level 2 assets are primarily nonexchangetraded commingled or collective funds where the underlying securities have observable prices available from active markets Valuation is based on the net asset value of fund units held as derived from the fair value of the underlying assets Debt securities categorized as Level 2 assets are generally valued based on independent brokerdealer bids or by comparison to other debt securities having similar durations yields and credit ratings Other Level 2 assets are valued based on a net asset value of fund units held which is derived from either market observed pricing for the underlying assets or brokerdealer quotation US equity securities classifed as Level 3 are fund investments in private companies Valuation techniques and inputs for these assets include discounted cash fow analysis earnings multiple approaches recent transactions transferability restrictions prevailing discount rates volatilities credit ratings and other factors In the Other class interests in mixed assets funds are Level 2 and US life insurance contracts and nonUS general fund investments and insurance arrangements are Level 3 A reconciliation of the change in value for Level 3 assets follows 2012 2013 Beginning balance 267 250 Gains Losses on assets held 9 25 Gains Losses on assets sold 16 22 Purchases sales and settlements net 10 3 Ending balance 250 250