Bank of America 2014 Annual Report Download - page 250

248 Bank of America 2014
The table below summarizes changes in unrealized gains (losses) recorded in earnings during 2014, 2013 and 2012 for Level 3
assets and liabilities that were still held at December 31, 2014, 2013 and 2012. 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
2014
(Dollars in millions)
Trading
Account
Profits
(Losses)
Mortgage
Banking
Income
(Loss) (1) Other (2) Total
Trading account assets:
Corporate securities, trading loans and other $69$ —$ —$69
Equity securities (8) — —(8)
Non-U.S. sovereign debt 31 — —31
Mortgage trading loans and ABS 79 — —79
Total trading account assets 171 ——171
Net derivative assets (276) 85 104 (87)
Loans and leases (3) ——
76 76
Mortgage servicing rights (6) (1,747)—(1,753)
Loans held-for-sale (3) (14) — 10 (4)
Other assets —(50)
102 52
Trading account liabilities – Corporate securities and other 1——1
Accrued expenses and other liabilities (3) —— 1 1
Long-term debt (3) 29 — (37) (8)
Total $(95)$
(1,712)$ 256 $ (1,551)
2013
Trading account assets:
Corporate securities, trading loans and other $ (130) $ — $ — $ (130)
Equity securities 40 — — 40
Non-U.S. sovereign debt 80 — — 80
Mortgage trading loans and ABS (174) — — (174)
Total trading account assets (184) — — (184)
Net derivative assets (1,375) 42 (7) (1,340)
Loans and leases (3) — (34) 152 118
Mortgage servicing rights — 1,541 — 1,541
Loans held-for-sale (3) — 6 57 63
Other assets — 166 14 180
Long-term debt (3) (4) — (32) (36)
Total $ (1,563) $ 1,721 $ 184 $ 342
2012
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) 456 — (2,326)
AFS debt securities – Other taxable securities 2 — — 2
Loans and leases (3) — — 214 214
Mortgage servicing rights — (1,100) — (1,100)
Loans held-for-sale (3) — 112 168 280
Other assets — (71) 50 (21)
Trading account liabilities – Corporate securities and other 4 — — 4
Accrued expenses and other liabilities (3) —— (2)(2)
Long-term debt (3) (136) — (173) (309)
Total $ (2,858) $ (603) $ 257 $ (3,204)
(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 $170 million and $53 million recorded on net derivative assets and other assets were included for 2014
and 2013, and gains of $141 million recorded on other assets were included for 2012.
(3) Amounts represent instruments that are accounted for under the fair value option.