Goldman Sachs 2013 Annual Report Download - page 131

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Notes to Consolidated Financial Statements
Fair Value of Cash Instruments by Level
The tables below present, by level within the fair value
hierarchy, cash instrument assets and liabilities, at fair
value. Cash instrument assets and liabilities are included in
“Financial instruments owned, at fair value” and
“Financial instruments sold, but not yet purchased, at fair
value,” respectively.
Cash Instrument Assets at Fair Value as of December 2013
in millions Level 1 Level 2 Level 3 Total
Commercial paper, certificates of deposit, time deposits and other money
market instruments $ 216 $ 8,392 $ — $ 8,608
U.S. government and federal agency obligations 29,582 41,490 — 71,072
Non-U.S. government and agency obligations 29,451 11,453 40 40,944
Mortgage and other asset-backed loans and securities 1:
Loans and securities backed by commercial real estate — 3,904 2,692 6,596
Loans and securities backed by residential real estate — 7,064 1,961 9,025
Bank loans and bridge loans — 8,076 9,324 17,400
Corporate debt securities 2240 14,299 2,873 17,412
State and municipal obligations — 1,219 257 1,476
Other debt obligations 2— 2,322 807 3,129
Equities and convertible debentures 76,945 9,394 14,685 3101,024
Commodities — 4,556 — 4,556
Total $136,434 $112,169 $32,639 $281,242
Cash Instrument Liabilities at Fair Value as of December 2013
in millions Level 1 Level 2 Level 3 Total
U.S. government and federal agency obligations $ 20,871 $ 49 $ — $ 20,920
Non-U.S. government and agency obligations 25,325 1,674 — 26,999
Mortgage and other asset-backed loans and securities:
Loans and securities backed by commercial real estate ——1 1
Loans and securities backed by residential real estate — 2— 2
Bank loans and bridge loans — 641 284 925
Corporate debt securities 10 5,241 2 5,253
State and municipal obligations — 50 1 51
Other debt obligations — 31 4
Equities and convertible debentures 22,107 468 8 22,583
Commodities — 966 — 966
Total $ 68,313 $ 9,094 $ 297 $ 77,704
1. Includes $295 million and $411 million of collateralized debt obligations (CDOs) backed by real estate in level 2 and level 3, respectively.
2. Includes $451 million and $1.62 billion of CDOs and collateralized loan obligations (CLOs) backed by corporate obligations in level 2 and level 3, respectively.
3. Includes $12.82 billion of private equity investments, $1.37 billion of investments in real estate entities and $491 million of convertible debentures.
Goldman Sachs 2013 Annual Report 129