Comerica 2011 Annual Report Download - page 113
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
F-76
NOTE 4 - INVESTMENT SECURITIES
A summary of the Corporation’s investment securities available-for-sale follows:
(in millions)
December 31, 2011
U.S. Treasury and other U.S. government agency securities
Residential mortgage-backed securities (a)
State and municipal securities (b)
Corporate debt securities:
Auction-rate debt securities
Other corporate debt securities
Equity and other non-debt securities:
Auction-rate preferred securities
Money market and other mutual funds
Total investment securities available-for-sale
December 31, 2010
U.S. Treasury and other U.S. government agency securities
Residential mortgage-backed securities (a)
State and municipal securities (b)
Corporate debt securities:
Auction-rate debt securities
Other corporate debt securities
Equity and other non-debt securities:
Auction-rate preferred securities
Money market and other mutual funds
Total investment securities available-for-sale
Amortized
Cost
$ 20
9,289
29
1
46
423
93
$ 9,901
$ 131
6,653
46
1
26
597
84
$ 7,538
Gross
Unrealized
Gains
$ —
224
—
—
—
—
—
$ 224
$ —
95
—
—
—
3
—
$ 98
Gross
Unrealized
Losses
$ —
1
5
—
—
15
—
$ 21
$ —
39
7
—
—
30
—
$ 76
Fair Value
$ 20
9,512
24
1
46
408
93
$ 10,104
$ 131
6,709
39
1
26
570
84
$ 7,560
(a) Residential mortgage-backed securities issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored
enterprises.
(b) Primarily auction-rate securities.
A summary of the Corporation’s investment securities available-for-sale in an unrealized loss position as of December 31,
2011 and 2010 follows:
(in millions)
December 31, 2011
Residential mortgage-backed securities (a)
State and municipal securities (b)
Equity and other non-debt securities:
Auction-rate preferred securities
Total impaired securities
December 31, 2010
Residential mortgage-backed securities (a)
State and municipal securities (b)
Equity and other non-debt securities:
Auction-rate preferred securities
Total impaired securities
Impaired
Less than 12 months
Fair
Value
$ 249
—
88
$ 337
$ 1,702
—
—
$ 1,702
Unrealized
Losses
$ 1
—
1
$ 2
$ 39
—
—
$ 39
12 months or more
Fair
Value
$ —
24
320
$ 344
$ —
38
436
$ 474
Unrealized
Losses
$ —
5
14
$ 19
$ —
7
30
$ 37
Total
Fair
Value
$ 249
24
408
$ 681
$ 1,702
38
436
$ 2,176
Unrealized
Losses
$ 1
5
15
$ 21
$ 39
7
30
$ 76
(a) Residential mortgage-backed securities issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored
enterprises.
(b) Primarily auction-rate securities.