SunTrust 2012 Annual Report Download - page 197
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Notes to Consolidated Financial Statements (Continued)
181
Fair Value Measurements
Using Significant Unobservable Inputs
(Dollars in millions)
Beginning
balance
January 1,
2012
Included
in
earnings OCI Purchases Sales Settlements
Transfers
to/from
other
balance
sheet
line items
Transfers
into
Level 3
Transfers
out of
Level 3
Fair value
December
31,
2012
Included in
earnings
(held at
December
31, 2012) 1
Assets
Trading assets:
CDO/CLO
securities $43 $11 $— $— $— ($2) $— $— $— $52 $9
ABS 5 — — — — — — — — 5 —
Corporate and
other debt
securities 1 — — — — — — — — 1 —
Total trading assets 49 11 2— — — (2) — — — 58 9 2
Securities AFS:
U.S. states and
political
subdivisions 58 — — — — (12) — — — 46 —
MBS - private 221 (7) 35 — — (40) — — — 209 (7)
ABS 16 — 7 — — (2) — — — 21 —
Corporate and
other debt
securities 5 — — 2 — (2) — — — 5 —
Other equity
securities 741 — — 164 — (272) — — — 633 —
Total securities AFS 1,041 (7) 342 166 — (328) — — — 914 (7)3
LHFS:
Residential loans 1 — — — (11) — 4 22 (8) 8 (1)
LHFI 433 7 4— — — (49)(15) 4 (1) 379 11 4
Other assets/
(liabilities), net 62 926 5— (31) — 26 (882) — — 101 —
Liabilities
Derivative
contracts (189) (304) 3194 6— — 299 — — — — —
1 Change in unrealized gains/(losses) included in earnings during the period related to financial assets still held at December 31, 2012.
2 Amounts included in earnings are recorded in trading income.
3 Amounts included in earnings are generally recorded in net securities gains; however, any related hedge ineffectiveness is recorded in trading income.
4 Amounts are generally included in mortgage production related income/(loss); however, the mark on certain fair value loans is included in trading income.
5 Amounts included in earnings are net of issuances, fair value changes, and expirations and are recorded in mortgage production related income/(loss).
6 Amount recorded in OCI was the effective portion of the cash flow hedges related to the Company’s probable forecasted sale of its shares of Coke common
stock. The Company ceased hedge accounting and terminated the forward contracts on the Coke Common stock during the third quarter of 2012, as discussed
in Note 16, “Derivative Financial Instruments.”