Charles Schwab 2011 Annual Report Download - page 90

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THE CHARLES SCHWAB CORPORATION
Notes to Consolidated Financial Statements
(Tabular Amounts in Millions, Except Per Share Data, Option Price Amounts, Ratios, or as Noted)
- 62 -
The following table is a rollforward of the amount of credit losses recognized in earnings for OTTI securities held by the
Company during the period for which a portion of the impairment was recognized in other comprehensive income:
Year Ended December 31, 2011 2010 2009
Balance at beginning of year $ 96 $ 60 $ -
Credit losses recognized into current year earnings on debt securities for
which an other-than-temporary impairment was not previously recognized 6 7 60
Credit losses recognized into current year earnings on debt securities for
which an other-than-temporary impairment was previously recognized 25 29 -
Balance at the end of year $ 127 $ 96 $ 60
The maturities of securities available for sale and securities held to maturity at December 31, 2011, are as follows:
After 1 year After 5 years
Within through through After
1 year 5 years 10 years 10 years Total
Securities available for sale:
U.S. agency residential mortgage-backed securities (1) $ - $ 2 $ 2,950 $ 17,969 $ 20,921
Non-agency residential mortgage-backed securities (1) - - 13 894 907
Certificates of deposit 1,897 1,725 - - 3,622
Corporate debt securities 954 2,517 100 - 3,571
U.S. agency notes - 1,800 - - 1,800
Asset-backed and other securities 225 812 534 1,573 3,144
Total fair value $ 3,076 $ 6,856 $ 3,597 $ 20,436 $ 33,965
Total amortized cost $ 3,076 $ 6,871 $ 3,512 $ 20,491 $ 33,950
Securities held to maturity:
U.S. agency residential mortgage-backed securities (1) $ - $ - $ 2,581 $ 12,617 $ 15,198
Other securities 117 224 - - 341
Total fair value $ 117 $ 224 $ 2,581 $ 12,617 $ 15,539
Total amortized cost $ 116 $ 222 $ 2,507 $ 12,263 $ 15,108
(1) Residential mortgage-backed securities have been allocated to maturity groupings based on final contractual maturities.
Actual maturities will differ from final contractual maturities because borrowers on a certain portion of loans underlying
these securities have the right to prepay their obligations.
Proceeds and gross realized gains (losses) from sales of securities available for sale are as follows:
Year Ended December 31, 2011 2010 2009
Proceeds $ 500 $ 871 $ 107
Gross realized gains $ 1 $ 1 $ 1
Gross realized losses $ - $ - $ (4)