Bank of America 2009 Annual Report Download - page 206

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The tables below summarize changes in unrealized gains (losses) recorded in earnings during 2009, 2008 and 2007 for Level 3 assets and
liabilities that were still held at December 31, 2009, 2008 and 2007. These amounts include changes in fair value generated by loans, LHFS, loan
commitments and structured notes which 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
2009
(Dollars in millions)
Card Income
(Loss)
Equity
Investment
Income
Trading
Account
Profits
(Losses)
Mortgage
Banking
Income
(Loss)
(1)
Other
Income
(Loss) Total
Trading account assets:
Corporate securities, trading loans and other
$–
$–$89 $–$–$89
Equity securities
–
– (328) – – (328)
Foreign sovereign debt
–
– 137 – – 137
Mortgage trading loans and asset-backed securities
–
– (332) – – (332)
Total trading account assets
–
– (434) – – (434)
Net derivative assets
–
– (2,761) 348 – (2,413)
Available-for-sale debt securities:
Mortgage-backed securities:
Non-agency MBS:
Residential
–
– – (20) (659) (679)
Other taxable securities
–
– (11) – (3) (14)
Tax-exempt securities
–
– (2) – (8) (10)
Total available-for-sale debt securities
–
– (13) (20) (670) (703)
Loans and leases
(2)
–
– – – 210 210
Mortgage servicing rights
–
– – 4,100 – 4,100
Loans held-for-sale
(2)
–
– (195) 164 695 664
Other assets
(71)
(106) – 6 1,061 890
Trading account liabilities – Foreign sovereign debt
–
– (38) – – (38)
Accrued expenses and other liabilities
(2)
–
– – (11) 1,740 1,729
Long-term debt
(2)
–
– (2,303) – (225) (2,528)
Total
$ (71)
$(106) $ (5,744) $ 4,587 $ 2,811 $ 1,477
2008
Trading account assets
$–
$ – $(2,144) $ (178) $ – $ (2,322)
Net derivative assets
–
– 2,095 1,154 – 3,249
Available-for-sale debt securities
–
– – (74) (1,840) (1,914)
Loans and leases
(2)
–
– – – (1,003) (1,003)
Mortgage servicing rights
–
– – (7,378) – (7,378)
Loans held-for-sale
(2)
–
– (154) (423) (4) (581)
Other assets
(331)
(193) – – – (524)
Accrued expenses and other liabilities
(2)
–
– – 292 (880) (588)
Total
$(331)
$(193) $ (203) $(6,607) $(3,727) $(11,061)
2007
Trading account assets
(3)
$–
$ – $(2,857) $ – $ – $ (2,857)
Net derivative assets
(3)
–
– (196) 139 – (57)
Available-for-sale debt securities
(3)
–
– – – (398) (398)
Loans and leases
(2)
–
– – – (167) (167)
Mortgage servicing rights
(3)
–
– – (43) – (43)
Loans held-for-sale
(2)
(58) (22) (80)
Other assets
(4)
(136)
(65) – – – (201)
Accrued expenses and other liabilities
(4)
–
– (1) – (395) (396)
Total
$(136)
$ (65) $(3,112) $ 74 $ (960) $ (4,199)
(1) Mortgage banking income does not reflect impact of Level 1 and Level 2 hedges against MSRs.
(2) Amounts represent items which are accounted for under the fair value option.
(3) Amounts represent items which were accounted for prior to the adoption of the fair value option.
(4) Amounts represent items which were carried at fair value prior to the adoption of the fair value option and certain portfolios of LHFS which are accounted for under the fair value option.
204
Bank of America 2009