Morgan Stanley 2015 Annual Report Download - page 157

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Roll-forward of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis.
Beginning
Balance at
December 31,
2014
Total
Realized
and
Unrealized
Gains
(Losses)(1)
Purchases
(2) Sales Issuances Settlements Net Transfers
Ending
Balance at
December 31,
2015
Unrealized
Gains (Losses)
for Level 3
Assets/
Liabilities
Outstanding at
December 31,
2015
(dollars in millions)
Assets at Fair Value
Trading assets:
Other sovereign government obligations ......$ 41 $ (1) $ 2 $ (30) $ — $ — $ (8) $ 4 $ —
Corporate and other debt:
State and municipal securities ............. — 2 3 — — — 14 19 2
Residential mortgage-backed securities ..... 175 24 176 (83) — — 49 341 12
Commercial mortgage-backed securities .... 96 (28) 27 (23) — — — 72 (32)
Asset-backed securities .................. 76 (9) 23 (30) — — (35) 25 —
Corporate bonds ....................... 386 (44) 374 (381) — (53) (15) 267 (44)
Collateralized debt and loan obligations ..... 1,152 123 325 (798) — (344) (28) 430 (19)
Loans and lending commitments .......... 5,874 (42) 3,216 (207) — (2,478) (427) 5,936 (76)
Other debt ............................ 285 (23) 131 (5) — (81) 141 448 (9)
Total corporate and other debt .......... 8,044 3 4,275 (1,527) — (2,956) (301) 7,538 (166)
Corporate equities 272 (1) 373 (333) — — 122 433 11
Net derivative and other contracts(3):
Interest rate contracts ................... (173) (51) 58 — (54) 207 273 260 20
Credit contracts ........................ (743) (172) 19 — (121) 196 (23) (844) (179)
Foreign exchange contracts ............... 151 53 4 — (2) (18) (47) 141 52
Equity contracts(4) ..................... (2,165) 166 81 (1) (310) 22 176 (2,031) 62
Commodity contracts ................... 1,146 433 35 — (222) (116) (226) 1,050 402
Total net derivative and other contracts . . . (1,784) 429 197 (1) (709) 291 153 (1,424) 357
Investments:
Principal investments .................. 835 11 32 (133) — (188) (71) 486 6
Other .............................. 323 (12) 1 (6) — — (85) 221 (7)
Securities received as collateral ............... — — 1 — — — — 1 —
Intangible assets ........................... 6 — — — — (1) — 5 —
Liabilities at Fair Value
Deposits ..................................$ — $ (1) $ — $ — $ 18 $ — $ — $ 19 $ (1)
Short-term borrowings ...................... — — — — 1 — — 1 —
Trading liabilities:
Corporate and other debt:
Corporate bonds ....................... 78 — (19) 6 — (65) — — —
Lending commitments .................. 5 5 — — — — — — 5
Other debt ............................ 38 — (1) 7 — (39) (1) 4 —
Total corporate and other debt .......... 121 5 (20) 13 — (104) (1) 4 5
Corporate equities 45 79 (86) 32 — — 105 17 79
Obligation to return securities received as
collateral .............................. — — — 1 — — — 1 —
Securities sold under agreements to repurchase . . . 153 2 — — — — — 151 2
Other secured financings ..................... 149 192 — — 327 (232) 409 461 181
Long-term borrowings ...................... 1,934 61 — — 881 (364) (403) 1,987 52
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