Wells Fargo 2011 Annual Report Download - page 199

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows.
Net unrealized
Total net gains
Purchases,
gains (losses)
(losses) included in
sales,
included in net
Other
issuances
income related
Balance,
compre-
and
Transfers
Transfers
Balance,
to assets and
beginning
Net
hensive
settlements,
into
out of
end of
liabilities held
(in millions)
of year
income
income
net
Level 3
Level 3
year
at period end (1)
Year ended December 31, 2011
Trading assets
(excluding derivatives):
Securities of U.S. states and
political subdivisions
$
5
3
-
12
51
(18)
53
-
Collateralized debt obligations
1,915
(24)
-
(297)
-
(12)
1,582
1
Corporate debt securities
166
1
-
(70)
-
-
97
(80)
Mortgage-backed securities
117
6
-
(36)
31
(10)
108
(4)
Asset-backed securities
366
75
-
(122)
-
(129)
190
(2)
Equity securities
34
(3)
-
(28)
1
-
4
72
Total trading securities
2,603
58
-
(541)
83
(169)
2,034
(13)
Other trading assets
136
(21)
-
2
-
(2)
115
14
Total trading assets
(excluding derivatives)
2,739
37
-
(539)
83
(171)
2,149
1
(2)
Securities available for sale:
Securities of U.S. states and
political subdivisions
4,564
10
52
6,923
-
(33)
11,516
9
Mortgage-backed securities:
Residential
20
(9)
(1)
(6)
121
(64)
61
(8)
Commercial
217
(44)
59
2
2
(4)
232
(56)
Total mortgage-backed
securities
237
(53)
58
(4)
123
(68)
293
(64)
Corporate debt securities
433
150
(112)
(185)
41
(32)
295
(3)
Collateralized debt obligations
4,778
290
(202)
3,725
8
-
8,599
-
Asset-backed securities:
Auto loans and leases
6,133
4
(27)
531
-
-
6,641
-
Home equity loans
112
(3)
(18)
40
221
(70)
282
(25)
Other asset-backed securities
3,150
10
13
181
107
(598)
2,863
(7)
Total asset-backed securities
9,395
11
(32)
752
328
(668)
9,786
(32)
Other debt securities
85
-
-
(85)
-
-
-
-
Total debt securities
19,492
408
(236)
11,126
500
(801)
30,489
(90)
(3)
Marketable equity securities:
Perpetual preferred securities
2,434
160
(7)
(1,243)
2
(2)
1,344
(53)
Other marketable equity securities
32
-
1
(10)
-
-
23
-
Total marketable
equity securities
2,466
160
(6)
(1,253)
2
(2)
1,367
(53)
(4)
Total securities
available for sale
21,958
568
(242)
9,873
502
(803)
31,856
(143)
Mortgages held for sale
3,305
44
-
(104)
492
(327)
3,410
43
(5)
Loans
309
13
-
(299)
-
-
23
-
(5)
Mortgage servicing rights
14,467
(5,821)
-
3,957
-
-
12,603
(3,680)
(5)
Net derivative assets and liabilities:
Interest rate contracts
77
4,051
-
(3,414)
(1)
(104)
609
309
Commodity contracts
(1)
2
-
(9)
(3)
11
-
1
Equity contracts
(225)
126
-
28
(6)
2
(75)
55
Foreign exchange contracts
9
(8)
-
(6)
1
(3)
(7)
(19)
Credit contracts
(1,017)
(856)
-
(123)
-
(2)
(1,998)
50
Other derivative contracts
(35)
(82)
-
-
-
-
(117)
-
Total derivative contracts
(1,192)
3,233
-
(3,524)
(9)
(96)
(1,588)
396
(6)
Other assets
314
12
-
(82)
-
-
244
3
(2)
Short sale liabilities
-
-
-
-
-
-
-
-
(2)
Other liabilities (excluding derivatives)
(344)
(8)
-
308
-
-
(44)
-
(5)
(1) Represents only net gains (losses) that are due to changes in economic conditions and management’s estimates of fair value and excludes changes due to the
collection/realization of cash flows over time.
(2) Included in trading activities and other noninterest income in the income statement.
(3) Included in debt securities available for sale in the income statement.
(4) Included in equity investments in the income statement.
(5) Included in mortgage banking and other noninterest income in the income statement.
(6) Included in mortgage banking, trading activities and other noninterest income in the income statement.
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