Bank of America 2013 Annual Report Download - page 261

Bank of America 2013 259
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 2013, 2012 and 2011. 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
2013
(Dollars in millions)
Trading
Account
Profits
(Losses)
Mortgage
Banking
Income
(Loss) (1) Other (2) Total
Trading account assets:
Corporate securities, trading loans and other $242 $—$—$ 242
Equity securities 74 — —74
Non-U.S. sovereign debt 50 — —50
Mortgage trading loans and ABS 53 — —53
Total trading account assets 419 ——419
Net derivative assets (1,224)927 — (297)
AFS debt securities:
Non-U.S. securities —— 5 5
Other taxable securities —— 9 9
Tax-exempt securities —— 3 3
Total AFS debt securities ——
17 17
Loans and leases (3) —(38)
136 98
Mortgage servicing rights — 1,941 —1,941
Loans held-for-sale (3) —2
60 62
Other assets —122 (410) (288)
Trading account liabilities – Corporate securities and other 10 — —10
Accrued expenses and other liabilities (3) —30 —30
Long-term debt (3) 45 — (32) 13
Total $ (750) $ 2,984 $ (229) $ 2,005
2012
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 (3) — — 334 334
Mortgage servicing rights — (430) — (430)
Loans held-for-sale (3) — 148 204 352
Other assets — (74) 20 (54)
Trading account liabilities – Corporate securities and other 4 — — 4
Accrued expenses and other liabilities (3) —— (4)(4)
Long-term debt (3) (133) — (174) (307)
Total $ (2,886) $ 2,631 $ 391 $ 136
(1) Mortgage banking income (loss) does not reflect the impact of Level 1 and Level 2 hedges on MSRs.
(2) Amounts included are primarily recorded in other income (loss). Equity investment gains of $84 million and $97 million recorded on other assets were also included for 2013 and 2012.
(3) Amounts represent instruments that are accounted for under the fair value option.