Capital One 2010 Annual Report Download - page 175
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CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED STATEMENTS
155
Plan Assets Measured at Fair Value on a Recurring Basis
December 31, 2010
(Dollars in millions) Fair Value Measurements Using Assets
Level 1 Level 2 Level 3 at Fair Value
Plan Assets
Common collective trusts .................................
.
$ 0 $ 169 $ 0 $ 169
Short-term investment fund ................................
.
0 7 0 7
Corporate bonds (S&P rating of A or higher) ................
.
0 2 0 2
Corporate bonds (S&P rating of lower than A) ..............
.
0 4 0 4
Government securities ....................................
.
0 46 0 46
Mortgage-backed securities ................................
.
0 1 0 1
Municipal bonds ..........................................
.
0 0 0 0
Total Plan Assets .......................................
.
$ 0 $ 229 $ 0 $ 229
December 31, 2009
(Dollars in millions) Fair Value Measurements Using Assets
Level 1 Level 2 Level 3 at Fair Value
Plan Assets
Common collective trusts .................................
.
$ 0 $ 153 $ 0 $ 153
Money market fund .......................................
.
66 0 0 66
Limited partnerships ......................................
.
0 0 1 1
Total Plan Assets .......................................
.
$ 66 $ 153 $ 1 $ 220
Financial instruments are considered Level 3 when their values are determined using pricing models, which include comparison of
prices from multiple sources, discounted cash flow methodologies or similar techniques and at least one significant model assumption
or input is unobservable or there is significant variability among pricing sources. Level 3 financial instruments also include those for
which the determination of fair value requires significant management judgment or estimation. The table below presents a
reconciliation for all assets and liabilities measured and recognized at fair value on a recurring basis using significant unobservable
inputs (Level 3) during 2010.
Level 3 Instruments Only
Year Ended
December 31, 2010
(Dollars in millions) Limited Partnerships
Balance, January 1, 2010 ............................................................................ $ 1
Total realized and unrealized losses:
Included in net income .............................................................................. 0
Settlements, net .................................................................................... (1)
Transfers in(out) of Level 3 ......................................................................... 0
Balance, December 31, 2010 ......................................................................... $ 0
Total unrealized gains (losses) included in net income related to assets still held as of December 31, 2010 .... $ 0
Year Ended
December 31, 2009
(Dollars in millions) Limited Partnerships
Balance, January 1, 2009 ............................................................................ $ 10
Total realized and unrealized losses:
Included in net income .............................................................................. (1)
Settlements, net .................................................................................... (8)
Transfers in(out) of Level 3 ......................................................................... 0
Balance, December 31, 2009 ......................................................................... $ 1
Total unrealized gains (losses) included in net income related to assets still held as of December 31, 2009 .... $ (1)