Morgan Stanley 2015 Annual Report Download - page 158

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MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Beginning
Balance at
December 31,
2013
Total
Realized
and
Unrealized
Gains
(Losses)(1)
Purchases
(2) Sales Issuances Settlements Net Transfers
Ending
Balance at
December 31,
2014
Unrealized
Gains (Losses)
for Level 3
Assets/
Liabilities
Outstanding at
December 31,
2014
(dollars in millions)
Assets at Fair Value
Trading assets:
Other sovereign government obligations .....$ 27 $ 1 $ 48 $ (34) $ — $ — $ (1) $ 41 $ —
Corporate and other debt:
Residential mortgage-backed securities . . . 47 9 105 (14) — — 28 175 4
Commercial mortgage-backed securities . . 108 65 16 (102) — — 9 96 45
Asset-backed securities ................ 103 3 66 (96) — — — 76 9
Corporate bonds ...................... 522 86 106 (306) — — (22) 386 66
Collateralized debt and loan obligations . . . 1,468 142 644 (964) — (143) 5 1,152 27
Loans and lending commitments ......... 5,129 (87) 3,784 (415) — (2,552) 15 5,874 (191)
Other debt .......................... 27 21 274 (35) — (2) — 285 20
Total corporate and other debt ........ 7,404 239 4,995 (1,932) — (2,697) 35 8,044 (20)
Corporate equities ....................... 190 20 146 (102) — — 18 272 (3)
Net derivative and other contracts(3)(5):
Interest rate contracts .................. 113 (258) 18 — (14) (43) 11 (173) (349)
Credit contracts ...................... (147) (408) 68 — (179) (15) (62) (743) (474)
Foreign exchange contracts ............. 68 (13) 7 — — 108 (19) 151 (17)
Equity contracts(4) ................... (831) (527) 339 (2) (562) (46) (536) (2,165) (600)
Commodity contracts .................. 880 158 287 — (52) (127) — 1,146 72
Other .............................. (4) — — — — 4 — — —
Total net derivative and other
contracts ...................... 79 (1,048) 719 (2) (807) (119) (606) (1,784) (1,368)
Investments:
Principal investments .................. 2,160 53 36 (181) — (1,258) 25 835 49
Other .............................. 538 17 17 (29) — — (220) 323 24
Intangible assets ........................... 8 — — — — (2) — 6 (1)
Liabilities at Fair Value
Short-term borrowings ......................$ 1 $ — $ — $ — $ — $ (1) $ — $ — $ —
Trading liabilities:
Corporate and other debt:
Corporate bonds ...................... 22 1 (46) 117 — — (14) 78 2
Lending commitments ................. 2 (3) — — — — — 5 (3)
Other debt .......................... 48 7 (8) — — — 5 38 (2)
Total corporate and other debt ........ 72 5 (54) 117 — — (9) 121 (3)
Corporate equities ....................... 8 — (3) 39 — — 1 45 —
Securities sold under agreements to repurchase . . . 154 1 — — — — — 153 1
Other secured financings ..................... 278 (9) — — 21 (201) 42 149 (6)
Long-term borrowings ...................... 1,887 109 — — 791 (391) (244) 1,934 102
152