SunTrust 2014 Annual Report Download - page 173
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Notes to Consolidated Financial Statements, continued
150
The following tables present a reconciliation of the beginning
and ending balances for assets and liabilities measured at fair
value 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,
2014 and 2013.
Fair Value Measurements
Using Significant Unobservable Inputs
(Dollars in millions)
Beginning
balance
January 1,
2014
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, 2014
Included
in earnings
(held at
December
31, 2014) 1
Assets
Trading assets and
derivatives:
CDO/CLO securities $54 $11 3$— $— ($65) $— $— $— $— $— $—
ABS 6 1 3— — (7) — — — — — —
Derivative contracts,
net 5 252 2— — — 8 (245) — — 20 —
Total trading assets and
derivatives 65 264 — — (72) 8 (245) — — 20 —
Securities AFS:
U.S. states and political
subdivisions 34 (2) — — (20) — — — — 12 —
MBS - private 154 (1) 2 — — (32) — — — 123 (1)
ABS 21 — 2 — — (2) — — — 21 —
Corporate and other
debt securities 5 — — — — — — — — 5 —
Other equity securities 739 — — 360 — (320) 6 — — 785 —
Total securities AFS 953 (3) 445360 (20) (354) 6 — — 946 (1)4
Residential LHFS 3 — — — (10) — (6) 17 (3) 1 —
LHFI 302 12 6— — — (45) 1 2 — 272 9 6
Liabilities
Other liabilities 26 4 7— — — (3) — — — 27 —
1 Change in unrealized gains/(losses) included in earnings during the period related to financial assets still held at December 31, 2014.
2 Amounts included in earnings are net of issuances, fair value changes, and expirations and are recognized in mortgage production related income.
3 Amounts included in earnings are recognized in trading income.
4 Amounts included in earnings are recognized in net securities (losses)/gains.
5 Amount recognized in OCI is recognized in change in unrealized gains/(losses) on AFS securities.
6 Amounts are generally included in mortgage production related income; however, the mark on certain fair value loans is included in trading income.
7 Amounts included in earnings are recognized in other noninterest expense.