Bank of America 2012 Annual Report Download - page 264

262 Bank of America 2012
The following tables summarize changes in unrealized gains (losses) recorded in earnings during 2012, 2011 and 2010 for Level
3 assets and liabilities that were still held at December 31, 2012, 2011 and 2010. These amounts include changes in fair value on
loans, LHFS, loan commitments and structured liabilities that are accounted for under the fair value option.
Level 3 – Changes in Unrealized Gains (Losses) Relating to Assets and Liabilities Still Held at Reporting Date
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 $ — $ (19) $ —$—$ (19)
Equity securities — 17 ——
17
Non-U.S. sovereign debt — 20 ——
20
Mortgage trading loans and ABS — 36 ——
36
Total trading account assets — 54 ——
54
Net derivative assets —(2,782) 2,020 —(762)
AFS debt securities – Other taxable securities —2
—— 2
Loans and leases (2) ——— 291 291
Mortgage servicing rights ——
(1,100)—(1,100)
Loans held-for-sale (2) ——
121 168 289
Other assets 141 — (71) (74) (4)
Trading account liabilities – Corporate securities and other —4
—— 4
Accrued expenses and other liabilities (2) ——— (2) (2)
Long-term debt (2) — (136) — (173) (309)
Total $ 141 $(2,858)$ 970 $210 $ (1,537)
2011
Trading account assets:
Corporate securities, trading loans and other $ — $ (86) $ — $ — $ (86)
Equity securities — (60) — — (60)
Non-U.S. sovereign debt — 101 — — 101
Mortgage trading loans and ABS — 30 — — 30
Total trading account assets — (15) — — (15)
Net derivative assets — 1,430 1,351 — 2,781
AFS debt securities:
Non-agency residential MBS — — — (195) (195)
Corporate/Agency bonds — — — (14) (14)
Other taxable securities — — — 13 13
Total AFS debt securities — — — (196) (196)
Loans and leases (2) — — — (260) (260)
Mortgage servicing rights — — (6,958) — (6,958)
Loans held-for-sale (2) — — (153) 5 (148)
Other assets (309) — (53) (51) (413)
Trading account liabilities – Corporate securities and other — 3 — — 3
Long-term debt (2) — (107) — (94) (201)
Total $ (309) $ 1,311 $ (5,813) $ (596) $ (5,407)
(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.