Comerica 2009 Annual Report Download - page 91
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
Assets and Liabilities Recorded at Fair Value on a Recurring Basis
The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring
basis.
Total Level 1 Level 2 Level 3
(in millions)
December 31, 2009
Trading securities ........................................ $ 107 $ 86 $ 21 $ —
Investment securities available-for-sale:
U.S. Treasury and other U.S. government agency securities ........... 103 103 — —
Government-sponsored enterprise residential mortgage-backed securities . . 6,261 — 6,261 —
State and municipal securities (a) ............................ 47 — 1 46
Corporate debt securities:
Auction-rate debt securities .............................. 150 — — 150
Other corporate debt securities ........................... 50 — 43 7
Equity and other non-debt securities:
Auction-rate preferred securities ........................... 706 — — 706
Money market and other mutual funds ...................... 99 99 — —
Total investment securities available-for-sale .................. 7,416 202 6,305 909
Derivative assets ........................................ 675 — 668 7
Total assets at fair value ................................... $ 8,198 $288 $6,994 $ 916
Derivative liabilities ...................................... $ 410 $ — $ 410 $ —
Other liabilities (b) ...................................... 86 86 — —
Total liabilities at fair value ................................. $ 496 $ 86 $ 410 $ —
December 31, 2008
Trading securities ........................................ $ 124 $80 $ 10 $ 34
Investment securities available-for-sale:
U.S. Treasury and other U.S. government agency securities ........... 79 79 — —
Government-sponsored enterprise residential mortgage-backed securities . . 7,861 — 7,861 —
State and municipal securities (a) ............................ 66 — 1 65
Corporate debt securities:
Auction-rate debt securities .............................. 147 — — 147
Other corporate debt securities ........................... 42 — 37 5
Equity and other non-debt securities:
Auction-rate preferred securities ........................... 936 — — 936
Money market and other mutual funds ...................... 70 70 — —
Total investment securities available-for-sale .................. 9,201 149 7,899 1,153
Derivative assets ........................................ 1,123 — 1,115 8
Total assets at fair value ................................... $10,448 $229 $9,024 $1,195
Derivative liabilities ...................................... $ 671 $ — $ 671 $ —
Other liabilities (b) ...................................... 85 80 — 5
Total liabilities at fair value ................................. $ 756 $80 $ 671 $ 5
(a) Primarily auction-rate securities.
(b) Primarily deferred compensation plans.
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