SunTrust 2012 Annual Report Download - page 198
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Notes to Consolidated Financial Statements (Continued)
182
Fair Value Measurements
Using Significant Unobservable Inputs
(Dollars in millions)
Beginning
balance
January 1,
2011
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,
2011
Included in
earnings
(held at
December 31,
2011) 1
Assets
Trading assets:
CDO/CLO
securities $53 $26 2$— $6 ($21) ($1)($20) $— $— $43 $9 2
ABS 27 9 — — (31) — — — — 5 2
Corporate and
other debt
securities 6 1 — — (5) (1) — — — 1 (1)
Equity securities 123 13 — — — (136) — — — — —
Total trading
assets 209 49 3— 6 (57) (138)(20) — — 49 10 3
Securities AFS:
U.S. states and
political
subdivisions 74 1 (2) — (4) (11) — — — 58 —
MBS - private 347 (8) 2 — — (71)(49) — — 221 (6)
ABS 20 — — — — (4) — — — 16 —
Corporate and
other debt
securities 5 — — — — — — — — 5 —
Other equity
securities 690 — — 198 — (147) — — — 741 —
Total securities
AFS 1,136 (7) 4— 198 (4) (233)(49) — — 1,041 (6)4
LHFS:
Residential
loans 2 (1) 5— — (18) (1)(1) 23 (3) 1 —
Corporate and
other loans 5 (1) 6— — — (4) — — — — —
LHFI 492 14 7— — — (59)(13) — (1) 433 (1)7
Other assets/
(liabilities), net (24) 349 5— — — 8 (271) — — 62 —
Liabilities
Derivative
contracts (145) 2 3(46) 8— — — — — — (189) 2 3
1 Change in unrealized gains/(losses) included in earnings for the period related to financial assets still held at December 31, 2011.
2 Amounts included in earnings do not include losses accrued as a result of the ARS settlements discussed in Note 19, "Contingencies."
3 Amounts included in earnings are recorded in trading income.
4 Amounts included in earnings are recorded in net securities gains.
5 Amounts included in earnings are net of issuances, fair value changes, and expirations and are recorded in mortgage production related income/(loss).
6 Amounts included in earnings are recorded in other noninterest income.
7 Amounts are generally included in mortgage production related income/(loss); however, the mark on certain fair value loans is included in trading income.
8 Amount recorded in OCI is the effective portion of the cash flow hedges related to the Company’s probable forecasted sale of its shares of Coke common
stock as discussed in Note 16, “Derivative Financial Instruments.”