Comerica 2009 Annual Report Download - page 92
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
The table below summarizes the changes in Level 3 assets and liabilities measured at fair value on a
recurring basis for the years ended December 31, 2009 and 2008.
Net Realized/Unrealized Gains (Losses)
Transfers
Recorded in
Balance at Recorded in Other Purchases, Sales, In and/or Balance at
Earnings
Beginning of Comprehensive Issuances and Out of End of
Period Realized Unrealized Income (Pre-tax) Settlements, Net Level 3 Period
(in millions)
Year Ended December 31, 2009
Trading securities ........... $ 34 $— $— $ — $ (34) $ — $ —
Investment securities
available-for-sale:
State and municipal
securities (a) ........... 65 — — (2) (17) — 46
Auction-rate debt securities . . . 147 — — 5 (2) — 150
Other corporate debt securities . 5— 2 — — — 7
Auction-rate preferred securities 936 14 — 13 (257) — 706
Total investment securities
available-for-sale ....... 1,153 14 2 16 (276) — 909
Derivative assets (warrants) ..... 8 — 4 — (5) — 7
Other liabilities ............ 5 (2) — — (7) — —
Year Ended December 31, 2008
Trading securities ........... $ — $— $— $— $ 31 $ 3 $ 34
Investment securities
available-for-sale:
State and municipal
securities (a) ........... 1 — — (3) 67 — 65
Auction-rate debt securities . . . — — — (11) 158 — 147
Other corporate debt securities . 2 — 4 — (1) — 5
Auction-rate preferred securities — 4 — (18) 950 — 936
Total investment securities
available-for-sale ....... 3 4 4 (32) 1,174 — 1,153
Derivative assets (warrants) ..... 23 2 (9) — (8) — 8
Other liabilities ............ — — (5) — — — 5
(a) Primarily auction-rate securities
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