Discover 2015 Annual Report Download - page 160

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Financial Instruments Measured at Other Than Fair Value
The following tables disclose the estimated fair value of the Company's financial assets and financial liabilities
that are not required to be carried at fair value (dollars in millions):
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3) Total Carrying Value
Balance at December 31, 2015
Assets
U.S. Treasury securities ....................................................... $ 1 $ — $ — $ 1 $ 1
States and political subdivisions of states .............................. — 7 — 7 7
Residential mortgage-backed securities - Agency .................. — 114 — 114 113
Held-to-maturity investment securities ............................... $ 1 $ 121 $ — $ 122 $ 121
Cash and cash equivalents ................................................. $9,572 $ — $ — $ 9,572 $9,572
Restricted cash ................................................................... $ 99 $ — $ — $ 99 $ 99
Net loan receivables .......................................................... $ — $ — $ 71,455 $ 71,455 $ 70,516
Accrued interest receivables ................................................ $ — $ 660 $ — $ 660 $ 660
Liabilities
Deposits ........................................................................... $ — $ 47,714 $ — $ 47,714 $ 47,594
Short-term borrowings ....................................................... $ — $ — $ — $ — $ —
Long-term borrowings - owed to securitization investors......... $ — $ 15,634 $ 1,220 $ 16,854 $ 16,764
Other long-term borrowings ............................................... $ — $ 8,355 $ — $ 8,355 $7,960
Accrued interest payables ................................................... $ — $ 158 $ — $ 158 $ 158
Balance at December 31, 2014
Assets
U.S. Treasury securities ....................................................... $ 1 $ — $ — $ 1 $ 1
States and political subdivisions of states .............................. — 10 — 10 10
Residential mortgage-backed securities - Agency .................. — 93 — 93 91
Held-to-maturity investment securities ............................... $ 1 $ 103 $ — $ 104 $ 102
Cash and cash equivalents ................................................. $7,284 $ — $ — $ 7,284 $7,284
Restricted cash ................................................................... $ 106 $ — $ — $ 106 $ 106
Net loan receivables(1) ........................................................ $ — $ — $ 69,316 $ 69,316 $ 68,101
Accrued interest receivables ................................................ $ — $ 618 $ — $ 618 $ 618
Liabilities
Deposits ........................................................................... $ — $ 46,242 $ — $ 46,242 $ 46,089
Short-term borrowings ....................................................... $ — $ 113 $ — $ 113 $ 113
Long-term borrowings - owed to securitization investors......... $ — $ 16,067 $ 1,561 $ 17,628 $ 17,395
Other long-term borrowings ............................................... $ — $ 5,721 $ 1 $ 5,722 $5,149
Accrued interest payables ................................................... $ — $ 132 $ — $ 132 $ 132
(1) Net loan receivables exclude mortgage loans held for sale that were measured at fair value on a recurring basis.