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PART II
ITEM8.NotestoConsolidatedFinancialStatements
Theeectofderivativeinstrumentsnotdesignatedashedginginstrumentsonincomeissummarizedbelow(inmillions):
Derivatives Not Designated
As Hedging Instruments
Gains (Losses) Recognized in Income on Derivatives
Year Ended December31,
Location 2011 2012 2013
Foreignexchangecontracts Interestandotherincome,net $29 $(67) $118
Interestratecontracts Interestandotherincome,net (19) (6) 4
Total $10 $(73) $122
Wepresentourderivatives,securitieslendingandreverserepurchaseagreementsatgrossfairvaluesintheConsolidated
BalanceSheets.However,ourmasternettingandothersimilararrangementsallownetsettlementsundercertainconditions.As
ofDecember31,2012andDecember31,2013,informationrelatedtotheseosettingarrangementswasasfollows(inmillions):
Description
Balance as of December31, 2012
Gross Amounts Not Oset in the Consolidated
Balance Sheets, but Have Legal Rights to Oset
Gross
Amounts of
Recognized
Assets
Gross
Amounts
Oset in the
Consolidated
Balance
Sheets
Net Presented
in the
Consolidated
Balance Sheets
Financial
Instruments
Cash
Collateral
Received
Non-Cash
Collateral
Received
Net
Assets
Exposed
Derivatives $ 178 $0$178 $(4)(1) $(40) $(12) $122
Reverserepurchaseagreements 1,629 0 1,629(2) 0 0 (1,629) 0
Total $1,807 $0$1,807 $(4) $(40) $(1,641) $122
Description
Balance as of December31, 2013
Gross Amounts Not Oset in the Consolidated
Balance Sheets, but Have Legal Rights to Oset
Gross
Amounts of
Recognized
Assets
Gross
Amounts
Oset in the
Consolidated
Balance
Sheets
Net Presented
in the
Consolidated
Balance Sheets
Financial
Instruments
Cash
Collateral
Received
Non-Cash
Collateral
Received
Net
Assets
Exposed
Derivatives $ 232 $0$232 $(2)(1) $(35) $(52) $143
Reverserepurchaseagreements 1,370 0 1,370(2) 0 0 (1,370) 0
Total $1,602 $0$1,602 $(2) $(35) $(1,422) $143
(1) ThebalancesatDecember31,2012andDecember31,2013wererelatedtoderivativeliabilitieswhichareallowedtobenetsettledagainst
derivativeassetsinaccordancewithourmasternettingagreements.
(2) ThebalancesatDecember31,2012andDecember31,2013included$929millionand$1,270millionrecordedincashandcashequivalents,
respectively,and$700millionand$100millionrecordedinreceivableunderreverserepurchaseagreements,respectively.
Description
Balance as of December31, 2012
Gross Amounts Not Oset in the Consolidated
Balance Sheets, but Have Legal Rights to Oset
Gross
Amounts of
Recognized
Liabilities
Gross
Amounts
Oset in the
Consolidated
Balance
Sheets
Net Presented
in the
Consolidated
Balance Sheets
Financial
Instruments
Cash
Collateral
Pledged
Non-Cash
Collateral
Pledged
Net
Liabilities
Derivatives $ 7$0$7$(4)(3) $0$0 $3
Securitieslendingagreements 1,673 0 1,673 0 0 (1,673) 0
Total $1,680 $0$1,680 $(4) $0$(1,673) $3
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