Securities Available for Sale and Securities Held to Maturity (Tables)

12 Months Ended

Dec. 31, 2012

Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities Available for Sale and Securities Held to Maturity

The amortized cost, gross unrealized gains and losses, and fair value of securities available for sale and securities held to maturity are as follows:


December 31, 2012	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available for sale:
U.S. agency mortgage-backed securities	$	20,080	$	396	$	—	$	20,476
Asset-backed securities		8,104		62		2		8,164
Corporate debt securities		6,197		61		2		6,256
Certificates of deposit		6,150		12		1		6,161
U.S. agency notes		3,465		2		3		3,464
Non-agency residential mortgage-backed securities		796		2		65		733
Commercial paper		574		—		—		574
Other securities		278		17		—		295

Total securities available for sale	$	45,644	$	552	$	73	$	46,123

Securities held to maturity:
U.S. agency mortgage-backed securities	$	17,750	$	558	$	19	$	18,289
Other securities		444		—		1		443

Total securities held to maturity	$	18,194	$	558	$	20	$	18,732


December 31, 2011	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available for sale:
U.S. agency mortgage-backed securities	$	20,666	$	269	$	14	$	20,921
Asset-backed securities		2,638		4		7		2,635
Corporate debt securities		3,592		5		26		3,571
Certificates of deposit		3,623		2		3		3,622
U.S. agency notes		1,795		5		—		1,800
Non-agency residential mortgage-backed securities		1,130		—		223		907
Commercial paper		225		—		—		225
Other securities		281		3		—		284

Total securities available for sale	$	33,950	$	288	$	273	$	33,965

Securities held to maturity:
U.S. agency mortgage-backed securities	$	14,770	$	430	$	2	$	15,198
Other securities		338		3		—		341

Total securities held to maturity	$	15,108	$	433	$	2	$	15,539

Securities with Unrealized Losses, Aggregated by Category and Period of Continuous Unrealized Loss

A summary of securities with unrealized losses, aggregated by category and period of continuous unrealized loss, is as follows:


	Less than 12 months				12 months or longer				Total
December 31, 2012	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available for sale:
Asset-backed securities	$	—	$	—	$	801	$	2	$	801	$	2
Corporate debt securities		878		2		—		—		878		2
Certificates of deposit		599		1		—		—		599		1
U.S. agency notes		2,102		3		—		—		2,102		3
Non-agency residential mortgage-backed securities		46		1		549		64		595		65

Total	$	3,625	$	7	$	1,350	$	66	$	4,975	$	73

Securities held to maturity:
U.S. agency mortgage-backed securities	$	2,680	$	19	$	—	$	—	$	2,680	$	19
Other securities		240		1		—		—		240		1

Total	$	2,920	$	20	$	—	$	—	$	2,920	$	20

Total securities with unrealized losses ⁽¹⁾	$	6,545	$	27	$	1,350	$	66	$	7,895	$	93

⁽¹⁾	The number of investment positions with unrealized losses totaled 139 for securities available for sale and 24 for securities held to maturity.


	Less than 12 months				12 months or longer				Total
December 31, 2011	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available for sale:
U.S. agency mortgage-backed securities	$	5,551	$	14	$	—	$	—	$	5,551	$	14
Asset-backed securities		1,368		6		152		1		1,520		7
Corporate debt securities		1,888		26		—		—		1,888		26
Certificates of deposit		2,158		3		—		—		2,158		3
Non-agency residential mortgage-backed securities		121		8		746		215		867		223

Total	$	11,086	$	57	$	898	$	216	$	11,984	$	273

Securities held to maturity:
U.S. agency mortgage-backed securities	$	384	$	2	$	—	$	—	$	384	$	2

Total	$	384	$	2	$	—	$	—	$	384	$	2

Total securities with unrealized losses ⁽¹⁾	$	11,470	$	59	$	898	$	216	$	12,368	$	275

⁽¹⁾	The number of investment positions with unrealized losses totaled 296 for securities available for sale and 3 for securities held to maturity.

Rollforward Amount of Credit Losses Recognized in Earnings for OTTI Securities Held by Company for Portion of Impairment Recognized in Other Comprehensive Income

The following table is a rollforward of the amount of credit losses recognized in earnings for OTTI securities held by the Company during the period for which a portion of the impairment was recognized in other comprehensive income:


Year Ended December 31,	2012		2011		2010
Balance at beginning of year	$	127	$	96	$	60
Credit losses recognized into current year earnings on debt securities for which an other-than-temporary impairment was not previously recognized		6		6		7
Credit losses recognized into current year earnings on debt securities for which an other-than-temporary impairment was previously recognized		26		25		29

Balance at end of year	$	159	$	127	$	96

Maturities of Securities Available for Sale and Securities Held to Maturity

The maturities of securities available for sale and securities held to maturity at December 31, 2012, are as follows:


	Within 1 year		After 1 year through 5 years		After 5 years through 10 years		After 10 years		Total
Securities available for sale:
U.S. agency mortgage-backed securities ⁽¹⁾	$	—	$	40	$	4,050	$	16,386	$	20,476
Asset-backed securities		—		438		785		6,941		8,164
Corporate debt securities		1,149		4,883		224		—		6,256
Certificates of deposit		4,557		1,604		—		—		6,161
U.S. agency notes		—		1,300		2,164		—		3,464
Non-agency residential mortgage-backed securities ⁽¹⁾		—		—		7		726		733
Commercial paper		574		—		—		—		574
Other securities		—		—		—		295		295

Total fair value	$	6,280	$	8,265	$	7,230	$	24,348	$	46,123
Total amortized cost	$	6,268	$	8,201	$	7,062	$	24,113	$	45,644

Securities held to maturity:
U.S. agency mortgage-backed securities ⁽¹⁾	$	—	$	—	$	9,956	$	8,333	$	18,289
Other securities		—		100		292		51		443

Total fair value	$	—	$	100	$	10,248	$	8,384	$	18,732
Total amortized cost	$	—	$	100	$	9,911	$	8,183	$	18,194

⁽¹⁾	Mortgage-backed securities have been allocated to maturity groupings based on final contractual maturities. Actual maturities will differ from final contractual maturities because borrowers on a certain portion of loans underlying these securities have the right to prepay their obligations.

Proceeds and Gross Realized Gains (Losses) from Sales of Securities Available for Sale

Proceeds and gross realized gains from sales of securities available for sale are as follows:


Year Ended December 31,	2012		2011		2010
Proceeds	$	3,336	$	500	$	871
Gross realized gains	$	35	$	1	$	1

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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