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expedient. See note (3) to the table below. Based on this guidance, no Level 3 assets existed (nor are reflected in
the table below) at December 31, 2015 and December 31, 2014.
December 31, 2015 December 31, 2014
Qualified PBOP Total Qualified PBOP Total
Retirement Retirement
Plan Plan
Assets at fair value (thousands of dollars):
Level 1 – Quoted prices in active markets for $ 7,021 $ 209 $ 7,230 $ 6,661 $ 198 $ 6,859
identical financial assets 66 2,288
Common stock 533 16 549 2,222 5,388
Agriculture 155
Capital equipment 3,304 98 3,402 5,233 1,238 42,969
Chemicals/materials 19,051
Consumer goods 41,035 1,221 42,256 41,731 549 21,298
Energy and mining 613 38,968
Finance/insurance 11,066 329 11,395 18,502 1,122 26,648
Healthcare 767 29,701
Information technology 29,957 892 30,849 20,685 855 19,047
Services 549 11,283
Telecommunications/internet/media 37,930 1,129 39,059 37,846 325
Other 169 5,882
Real estate investment trusts 29,229 870 30,099 25,881 24,567 110,726
Mutual funds 1,325
Government fixed income securities 12,341 367 12,708 28,846 46,019
Preferred securities 17 585
Futures contracts 25,883 770 26,653 18,498 — —
Total Level 1 Assets (1) 9,043 269 9,312 10,958 $32,515 $386,712
Level 2 – Significant other observable inputs 5,010 149 5,159 5,713 $ 1,433 $ 49,745
Government fixed income and mort-
gage backed securities 87,483 23,985 111,468 86,159 803 27,874
Corporate fixed income securities 691 23,980
Asset-backed and mortgage-backed 33,482 996 34,478 44,694 183
Banking 126 6,365
Insurance —— — 568 686 4,358
Utilities 984 23,806
Other (7) — (7) — 12,952
Pooled funds and mutual funds —
Real estate investment trusts $333,310 $31,300 $364,610 $354,197 44 —
State and local obligations — 1,543
Preferred securities $ 49,571 $ 1,475 $ 51,046 $ 48,312 —
Convertible securities —
23,542 701 24,243 27,071 —
20,857 621 21,478 23,289
146
4,896 114 5,042 6,182
3,826 922 3,940 4,232
30,995 796 31,917 23,120
14,808 15,604 11,968
1,949 58 2,007
28 —
950 17 978 1,499
554 571
196 6 202 —
—
Total Level 2 assets (2) $152,144 $ 4,884 $157,028 $145,673 $ 4,950 $150,623
Total Plan assets at fair value $485,454 $36,184 $521,638 $499,870 $37,465 $537,335
Commingled equity funds (3) 250,511 7,455 257,966 259,235 7,687 266,922
Insurance company general account
contracts (4) 3,719 — 3,719 4,003 — 4,003
Total Plan assets (5) $739,684 $43,639 $783,323 $763,108 $45,152 $808,260
Southwest Gas Corporation
