Sallie Mae 2012 Annual Report Download - page 178

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SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
13. Fair Value Measurements (Continued)
The following tables summarize the change in balance sheet carrying value associated with level 3 financial
instruments carried at fair value on a recurring basis.
Year Ended December 31, 2012
Derivative Instruments
(Dollars in millions)
Interest
Rate Swaps
Cross
Currency
Interest
Rate Swaps Other
Total
Derivative
Instruments
Balance, beginning of period ................ $(40) $1,021 $ 1 $982
Total gains/(losses) (realized and unrealized):
Included in earnings(1) ...................... (5) 159 3 157
Included in other comprehensive income ....... — — — —
Settlements ............................... (28) (127) — (155)
Transfers in and/or out of level 3 .............. — — — —
Balance, end of period ..................... $(73) $1,053 $ 4 $984
Change in unrealized gains/(losses) relating to
instruments still held at the reporting date(2) . . . $(31) $ 55 $ 4 $ 28
Year Ended December 31, 2011
Derivative Instruments
(Dollars in millions)
Interest
Rate Swaps
Cross
Currency
Interest
Rate Swaps Other
Total
Derivative
Instruments
Balance, beginning of period ................ $(90) $1,427 $ 26 $1,363
Total gains/(losses) (realized and unrealized):
Included in earnings(1) ...................... 69 (176) 33 (74)
Included in other comprehensive income ....... — — — —
Settlements ............................... (19) (230) (58) (307)
Transfers in and/or out of level 3 .............. — — — —
Balance, end of period ..................... $(40) $1,021 $ 1 $ 982
Change in unrealized gains/(losses) relating to
instruments still held at the reporting date(2) . . . $ 6 $ (408) $ 11 $ (391)
F-68