MoneyGram 2009 Annual Report Download - page 99

Table of Contents
MONEYGRAM INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The table below provides a roll-forward of the financial assets classified in Level 3 which are measured at fair value on a recurring basis
for the years ended December 31:
2009 2008
Trading Total Trading Total
Investments Other Level 3 Investments Other Level 3
and Related Asset-Backed Financial and Related Asset-Backed Financial
(Amounts in thousands) Put Options Securities Assets Put Options Securities Assets
Beginning balance $ 47,990 $ 29,528 $ 77,518 $ 62,105 $ 2,478,832 $ 2,540,937
Issuance of put options — — — 24,114 — 24,114
Sales and settlements — — — — (2,355,014) (2,355,014)
Realized gains 7,557 — 7,557 — — —
Realized losses — (2) (2) — (13,760) (13,760)
Principal paydowns (32,900) (6,417) (39,317) — (16,073) (16,073)
Other-than-temporary impairments — (4,069) (4,069) — (70,274) (70,274)
Unrealized gains — instruments still held at the reporting date 4,304 4,557 8,861 2,391 5,817 8,208
Unrealized losses — instruments still held at the reporting date — (1,509) (1,509) (40,620) — (40,620)
Ending balance $ 26,951 $ 22,088 $ 49,039 $ 47,990 $ 29,528 $ 77,518
There were no financial liabilities classified in Level 3 for the year ended December 31, 2009. The table below provides a roll-forward
for the year ended December 31, 2008 of the financial liabilities classified in Level 3.
2008
Total
Embedded Derivative Level 3
Derivatives in Financial Financial
(Amounts in thousands) Preferred Stock Instruments Liabilities
Beginning balance $ — $ 28,723 $ 28,723
Issuance of preferred stock 54,797 — 54,797
Valuation losses 16,030 973 17,003
Cash settlement of derivatives upon termination — (29,696) (29,696)
Reversal of liability to Additional paid-in capital (70,827) — (70,827)
Ending balance $ — $ — $ —
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