SunTrust 2013 Annual Report Download - page 204

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Notes to Consolidated Financial Statements, continued
188
The following tables present a reconciliation of the beginning and ending balances for fair valued assets and liabilities measured
on a recurring basis using significant unobservable inputs (other than MSRs which are disclosed in Note 9, “Goodwill and
Other Intangible Assets”). Transfers into and out of the fair value hierarchy levels are assumed to be as of the end of the quarter
in which the transfer occurred. None of the transfers into or out of level 3 have been the result of using alternative valuation
approaches to estimate fair values. There were no transfers between level 1 and 2 during the years ended December 31, 2013
and 2012.
Fair Value Measurements
Using Significant Unobservable Inputs
(Dollars in millions)
Beginning
balance
January 1,
2013
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,
2013
Included
in earnings
(held at
December
31, 2013) 1
Assets
Trading assets
and derivatives:
CDO/CLO
securities $52 $23 $— $— ($20) ($1) $— $— $— $54 $15
ABS 5 1 — —— — ——— 6 1
Derivative
contracts, net 132 98 2————
(222)— — 8 —
Corporate and
other debt
securities 1— — —— (1)——— — —
Total trading
assets and
derivatives
190 122 3— — (20) (2)(222)— — 68 16
3
Securities AFS:
U.S. states and
political
subdivisions 46 — 2 — (6) (8)——— 34 —
MBS - private 209 — (5) — — (50) — — — 154 —
ABS 21 (1) 4 — — (3)——— 21 (1)
Corporate and
other debt
securities 5— — 4— (4)——— 5 —
Other equity
securities 633 — — 200 — (94) — — — 739 —
Total securities
AFS 914 (1) 415204 (6) (159)——— 953 (1)4
Residential LHFS 81
6— — (25) (1)(8)32 (4)3—
LHFI 379 (5) 6— — — (55)(17) — — 302 (11)6
Liabilities
Other liabilities 31 4
7
— — — (6)——— 29 4
7
1 Change in unrealized gains/(losses) included in earnings during the period related to financial assets still held at December 31, 2013.
2 Amounts included in earnings are net of issuances, fair value changes, and expirations and are recognized in mortgage production related income/(loss).
3 Amounts included in earnings are recognized in trading income.
4 Amounts included in earnings are recognized in net securities gains.
5 Amount recognized in OCI is recognized in change in net unrealized gains on securities, net of tax.
6 Amounts are generally included in mortgage production related income/(loss); however, the mark on certain fair value loans is included in trading income.
7 Amounts included in earnings are recognized in other noninterest expense.