Goldman Sachs 2012 Annual Report Download - page 148

Notes to Consolidated Financial Statements
Fair Value of Other Financial Assets and Financial
Liabilities by Level
The tables below present, by level within the fair value
hierarchy, other financial assets and financial liabilities
accounted for at fair value primarily under the fair
value option.
Other Financial Assets at Fair Value as of December 2012
in millions Level 1 Level 2 Level 3 Total
Securities segregated for regulatory and other purposes 1$21,549 $ 8,935 $ — $ 30,484
Securities purchased under agreements to resell — 141,053 278 141,331
Securities borrowed — 38,395 — 38,395
Receivables from customers and counterparties — 7,225 641 7,866
Other assets 24,420 8,499 507 313,426
Total $25,969 $204,107 $ 1,426 $231,502
Other Financial Liabilities at Fair Value as of December 2012
in millions Level 1 Level 2 Level 3 Total
Deposits $ — $ 4,741 $ 359 $ 5,100
Securities sold under agreements to repurchase — 169,880 1,927 171,807
Securities loaned — 1,558 — 1,558
Other secured financings — 28,925 1,412 30,337
Unsecured short-term borrowings — 15,011 2,584 17,595
Unsecured long-term borrowings — 10,676 1,917 12,593
Other liabilities and accrued expenses — 769 11,274 412,043
Total $ — $231,560 $19,473 $251,033
1. Includes securities segregated for regulatory and other purposes accounted for at fair value under the fair value option, which consists of securities borrowed and
resale agreements. The table above includes $21.55 billion of level 1 securities segregated for regulatory and other purposes accounted for at fair value under other
U.S. GAAP, consisting of U.S. Treasury securities and money market instruments.
2. Consists of assets classified as held for sale related to the firm’s reinsurance business, primarily consisting of securities accounted for as available-for-sale and
insurance separate account assets which are accounted for at fair value under other U.S. GAAP. Such assets were previously included in “Financial instruments
owned, at fair value” and “Securities segregated for regulatory and other purposes,” respectively.
3. Consists of insurance contracts and derivatives classified as held for sale. See “Insurance and Reinsurance Contracts” above and Note 7 for further information
about valuation techniques and inputs related to insurance contracts and derivatives, respectively.
4. Includes $692 million of liabilities classified as held for sale related to the firm’s reinsurance business accounted for at fair value under the fair value option.
146 Goldman Sachs 2012 Annual Report