eTrade 2010 Annual Report Download - page 121
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The following tables present additional information about Level 3 assets and liabilities measured at fair
value on a recurring basis (dollars in thousands):
Trading
Securities
Available-for-sale Securities
Agency
Mortgage-
backed
Securities and
CMOs
Non-agency
CMOs
Corporate
Investments
Balance, December 31, 2009 $1,491 $ 17,972 $ 234,629 $ 173
Realized and unrealized gains (losses):(1)
Included in earnings(2) (938) — (35,799) —
Included in other comprehensive income (loss)(3) — — 80,695 (9)
Purchases, sales, other settlements and issuances, net 77 — (32,520) (119)
Transfers in to Level 3(4) — — 139,088 —
Transfers out of Level 3(4) — (17,972) (190,873) (45)
Balance, December 31, 2010 $ 630 $ — $ 195,220 $ —
(1) The majority of total realized and unrealized gains (losses) were related to instruments held at December 31, 2010.
(2) The majority of realized and unrealized gains (losses) included in earnings are reported in the net impairment line item.
(3) The majority of realized and unrealized gains (losses) included in other comprehensive income (loss) are reported in the net change from
available-for-sale securities line item.
(4) The Company’s transfers in and out of Level 3 are as of the beginning of the reporting period on a quarterly basis.
Trading
Securities
Available-for-sale Securities
Derivative
Instruments,
Net(5)
Agency
Mortgage-
backed
Securities and
CMOs
Non-agency
CMOs
Corporate
Investments
Balance, December 31, 2008 $ 33,406 $ — $304,661 $170 $(492)
Realized and unrealized gains (losses):(1)
Included in earnings(2) 2,016 — (86,215) — 492
Included in other comprehensive income (loss)(3) — (783) 102,346 3 —
Purchases, sales, other settlements and issuances, net (37,377) 4 (84,050) — —
Transfers in and/or (out) of Level 3(4) 3,446 18,751 (2,113) — —
Balance, December 31, 2009 $ 1,491 $17,972 $234,629 $173 $ —
(1) The majority of total realized and unrealized gains (losses) were related to instruments held at December 31, 2009.
(2) The majority of realized and unrealized gains (losses) included in earnings are reported in the net impairment line item.
(3) The majority of realized and unrealized gains (losses) included in other comprehensive income (loss) are reported in the net change from
available-for-sale securities line item.
(4) The Company’s transfers in and out of Level 3 are as of the beginning of the reporting period on a quarterly basis.
(5) Represents derivative assets net of derivative liabilities for presentation purposes only.
118