Comerica 2011 Annual Report Download - page 115

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
F-78
The following table summarizes auction-rate securities activity for the years ended December 31, 2011 and 2010.
(in millions)
Balance at January 1, 2010
Called, redeemed or sold subsequent to repurchase
Net securities gains
Net unrealized losses (b)
Balance at December 31, 2010
Called, redeemed or sold subsequent to repurchase
Net securities gains
Net unrealized gains (b)
Balance at December 31, 2011
Par Value
$ 985
(308)
$ 677
(201)
$ 476
Fair
Value (a)
$ 901
(282)
8
(18)
$ 609
(201)
10
14
$ 432
(a) Recorded in “investment securities available-for-sale” on the consolidated balance sheets.
(b) Changes in fair value recognized in accumulated other comprehensive income (loss).
In January 2012, auction-rate preferred securities with a par value of $95 million were redeemed at par.
NOTE 5 – CREDIT QUALITY AND ALLOWANCE FOR CREDIT LOSSES
The following table summarizes nonperforming assets.
(in millions)
December 31
Nonaccrual loans
Reduced-rate loans (a)
Total nonperforming loans
Foreclosed property
Total nonperforming assets
2011
$ 860
27
887
94
$ 981
2010
$ 1,080
43
1,123
112
$ 1,235
(a) Reduced-rate business loans totaled $8 million and $26 million, respectively, and reduced-rate retail loans totaled $19 million
and $17 million, respectively, at December 31, 2011 and 2010.