Ally Bank 2011 Annual Report Download - page 206

Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10−K
Level 3 recurring fair value measurements
Fair value
at
January 1,
2010
Net realized/unrealized
gains (losses)
Purchases,
issuances,
and
settlements,
net
Fair value at
December 31,
2010
Net
unrealized
gains
(losses)
included in
earnings still
held at
December 31,
2010($ in millions)
included
in
earnings
included in
other
comprehensive
income
Assets
Trading assets
Mortgage−backed residential securities $ 99 $ 6 (a) $ — $ (61) $ 44 $ 24 (a)
Asset−backed securities 596 — 5 (507) 94 —
Total trading assets 695 6 5 (568) 138 24
Investment securities
Available−for−sale securities
Debt securities
Mortgage−backed residential 6 — (2) (3) 1 —
Asset−backed 20 — — (20) — —
Total debt securities 26 — (2) (23) 1 —
Mortgage loans held−for−sale, net (b) — 3 (b) — 1 4 3 (b)
Consumer mortgage finance receivables
and loans, net (b) 1,391 1,903 (b) — (2,279) 1,015 1,189 (b)
Mortgage servicing rights 3,554 (871) (c) — 1,055 3,738 (871) (c)
Other assets
Cash reserve deposits
held−for−securitization trusts 31 — — (31) — —
Interests retained in financial asset sales 471 94 (d) — 3 568 14 (d)
Fair value of derivative contracts in
receivable (liability) position, net
Interest rate contracts, net 103 180 (e) — (296) (13) 388 (e)
Total assets $ 6,271 $ 1,315 $ 3 $ (2,138) $ 5,451 $ 747
Liabilities
Long−term debt
On−balance sheet securitization debt (b) $ (1,294) $ (1,881) (b) $ — $ 2,203 $ (972) $ (1,387) (b)
Total liabilities $ (1,294) $ (1,881) $ — $ 2,203 $ (972) $ (1,387)
(a) The fair value adjustment was reported as other income, net of losses and the related interest was reported as interest on trading assets in the Consolidated Statement of Income.
(b) Carried at fair value due to fair value option elections. Refer to the next section of this note titled Fair Value Option for Financial Assets and Liabilities for the location of the gains
and losses in the Consolidated Statement of Income.
(c) Fair value adjustment reported as servicing−asset valuation and hedge activities, net, in the Consolidated Statement of Income.
(d) Reported as other income, net of losses, in the Consolidated Statement of Income.
(e) Refer to Note 24 for information related to the location of the gains and losses on derivative instruments in the Consolidated Statement of Income.
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