Bank of America 2008 Annual Report Download - page 109

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Table X Non-exchange Traded Commodity Contracts
(Dollars in millions)
Asset
Positions
Liability
Positions
Net fair value of contracts outstanding, January 1, 2008 $ 1,148 $ 1,226
Effects of legally enforceable master netting agreements 3,573 3,573
Gross fair value of contracts outstanding, January 1, 2008 4,721 4,799
Contracts realized or otherwise settled (1,674) (1,605)
Fair value of new contracts 2,435 2,413
Other changes in fair value (1,442) (1,484)
Gross fair value of contracts outstanding, December 31, 2008 4,040 4,123
Effects of legally enforceable master netting agreements (2,869) (2,869)
Net fair value of contracts outstanding, December 31, 2008
$ 1,171 $ 1,254
Table XI Non-exchange Traded Commodity Contract Maturities
December 31, 2008
(Dollars in millions)
Asset
Positions
Liability
Positions
Maturity of less than 1 year $ 1,623 $ 1,503
Maturity of 1-3 years 2,134 2,331
Maturity of 4-5 years 208 202
Maturity in excess of 5 years 75 87
Gross fair value of contracts outstanding 4,040 4,123
Effects of legally enforceable master netting agreements (2,869) (2,869)
Net fair value of contracts outstanding
$ 1,171 $ 1,254
Bank of America 2008
107