The components of gain (loss) on debt designated at fair value and related derivatives are as follows: | | | | | | | | | | | | | Year Ended December 31, | 2012 | | 2011 | | 2010 | | (in millions) | Mark-to-market on debt designated at fair value(1): | | | | | | Interest rate component | $ | 166 |
| | $ | 25 |
| | $ | (269 | ) | Credit risk component | (758 | ) | | 616 |
| | 109 |
| Total mark-to-market on debt designated at fair value | (592 | ) | | 641 |
| | (160 | ) | Mark-to-market on the related derivatives(1) | (260 | ) | | (81 | ) | | 112 |
| Net realized gains on the related derivatives | 403 |
| | 604 |
| | 789 |
| Gain (loss) on debt designated at fair value and related derivatives | $ | (449 | ) | | $ | 1,164 |
| | $ | 741 |
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| | (1) | Mark-to-market on debt designated at fair value and related derivatives excludes market value changes due to fluctuations in foreign currency exchange rates. Foreign currency translation gains (losses) recorded in derivative related income (expense) associated with debt designated at fair value was a loss of $35 million, a gain of $63 million and a gain of $84 million during 2012, 2011 and 2010, respectively. Offsetting gains (losses) recorded in derivative related income (expense) associated with the related derivatives was a gain of $35 million, a loss of $63 million and a loss of $84 million during 2012, 2011 and 2010, respectively. |
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