Policy



	Level 1		Level 2		Level 3		Total

Commingled trusts	$	—	$	1,050.7	$	—	$	1,050.7
U.S. government securities	—		228.3		—		228.3
Mutual funds	79.2		—		—		79.2
Corporate and municipal bonds	—		252.5		—		252.5
Mortgage-backed security bonds	—		22.7		—		22.7
Total pension assets	$	79.2	$	1,554.2	$	—	$	1,633.4

In addition to the investments in the above table, the pension plans also held cash and cash equivalents of $42.7 million as of June 30, 2013, which have been classified as Level 2 in the fair value hierarchy.

The following table presents the investments of the pension plans measured at fair value at June 30, 2012:



	Level 1		Level 2		Level 3		Total

Commingled trusts	$	—	$	583.5	$	—	$	583.5
U.S. government securities	—		272.5		—		272.5
Mutual funds	269.6		—		—		269.6
Corporate and municipal bonds	—		272.8		—		272.8
Mortgage-backed security bonds	—		13.9		—		13.9
Total pension assets	$	269.6	$	1,142.7	$	—	$	1,412.3

AUTOMATIC DATA PROCESSING INC | 2013 | FY |

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