Bank of America 2012 Annual Report Download - page 262

260 Bank of America 2012
The following tables summarize gains (losses) due to changes in fair value, including both realized and unrealized gains (losses),
recorded in earnings for Level 3 assets and liabilities during 2012, 2011 and 2010. These amounts include gains (losses) on loans,
LHFS, loan commitments and structured liabilities that are accounted for under the fair value option.
Level 3 – Total Realized and Unrealized Gains (Losses) Included in Earnings
2012
(Dollars in millions)
Equity
Investment
Income
(Loss)
Trading
Account
Profits
(Losses)
Mortgage
Banking
Income
(Loss) (1)
Other
Income
(Loss) Total
Trading account assets:
Corporate securities, trading loans and other $ —$ 195 $—$—$ 195
Equity securities — 31 ——
31
Non-U.S. sovereign debt —8
—— 8
Mortgage trading loans and ABS —215 — — 215
Total trading account assets —449 — — 449
Net derivative assets —(3,208) 2,987 —(221)
AFS debt securities:
Non-agency residential MBS ———(69) (69)
Corporate/Agency bonds ——— (2) (2)
Other taxable securities —2
— 21 23
Tax-exempt securities ——— 61 61
Total AFS debt securities —2
— 11 13
Loans and leases (2) ——— 334 334
Mortgage servicing rights ——
(430)—(430)
Loans held-for-sale (2) ——
148 204 352
Other assets 97 — (74) (77) (54)
Trading account liabilities – Corporate securities and other —4
—— 4
Accrued expenses and other liabilities (2) ——— (4) (4)
Long-term debt (2) — (133) — (174) (307)
Total $ 97 $ (2,886) $ 2,631 $ 294 $ 136
2011
Trading account assets:
Corporate securities, trading loans and other $ — $ 490 $ — $ — $ 490
Equity securities — 49 — — 49
Non-U.S. sovereign debt — 87 — — 87
Mortgage trading loans and ABS — 442 — — 442
Total trading account assets — 1,068 — — 1,068
Net derivative assets — 1,516 3,683 — 5,199
AFS debt securities:
Non-agency residential MBS — — — (158) (158)
Corporate/Agency bonds — — — (12) (12)
Other taxable securities — 16 — 10 26
Tax-exempt securities — (3) — 24 21
Total AFS debt securities — 13 — (136) (123)
Loans and leases (2) — — (13) (42) (55)
Mortgage servicing rights — — (5,661) — (5,661)
Loans held-for-sale (2) — — (108) 144 36
Other assets 242 — (51) (51) 140
Trading account liabilities – Corporate securities and other — 4 — — 4
Other short-term borrowings (2) — — (30) — (30)
Accrued expenses and other liabilities (2) — (10) 71 — 61
Long-term debt (2) — (106) — (82) (188)
Total $ 242 $ 2,485 $ (2,109) $ (167) $ 451
(1) Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs.
(2) Amounts represent instruments that are accounted for under the fair value option.