Comerica 2008 Annual Report Download - page 131
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
liabilities included a liability under an indemnification agreement related to the sale of the Corporation’s
remaining ownership of Visa shares, discussed in ‘‘Financial Guarantees’’ above.
Year Ended December 31, 2008
Investment Derivative
Trading Securities Assets Other
Recurring Level 3 Assets and Liabilities Securities Available-for-Sale (Warrants) Liabilities
(in millions)
Balance at January 1, 2008 ...................... $— $ 3 $23 $—
Net realized/unrealized gains (losses):
Recorded in earnings-realized ................. ——2—
Recorded in earnings-unrealized ............... —4(9)(5)
Recorded in other comprehensive income ........ — (32) — —
Purchases, sales, issuances and settlements, net ...... 31 1,178 (8) —
Transfers in and/or out of Level 3 ............... 3———
Balance at December 31, 2008 ................... $34 $1,153 $ 8 $ 5
The table below presents the income statement classification of the Level 3 gains and losses due to changes
in fair value, including both realized and unrealized gains and losses, recorded in earnings, as shown in the table
above.
Year Ended December 31, 2008
Investment Derivative
Trading Securities Assets Other
Recurring Level 3 Assets and Liabilities Securities Available-for-Sale (Warrants) Liabilities
(in millions)
Classification of realized/unrealized gains (losses)
recorded in earnings:
Other noninterest income ................... $— $— $(7) $—
Net securities gains (losses) .................. —— —(5)
Discontinued operations .................... —4——
Total ..................................... $— $ 4 $(7) $(5)
The table below summarizes the changes in unrealized gains and losses recorded in earnings for the year
ended December 31, 2008 for recurring Level 3 assets and liabilities that were still held at December 31, 2008.
Year Ended December 31, 2008
Investment Derivative
Trading Securities Assets Other
Recurring Level 3 Assets and Liabilities Securities Available-for-Sale (Warrants) Liabilities
(in millions)
Changes in unrealized gains (losses) recorded in earnings
relating to assets still held at December 31, 2008:
Other noninterest income ................... $— $— $(9) $—
Net securities gains (losses) .................. —— —(5)
Discontinued operations .................... —4——
Total ..................................... $— $ 4 $(9) $(5)
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