Fair Values (Tables)

3 Months Ended

Mar. 31, 2018

Fair Values (Tables) [Abstract]

Fair value assets and liabilities measured on recurring basis

The following table summarizes our financial assets and financial liabilities measured at fair value on a recurring basis, categorized by GAAP’s fair value hierarchy, as of March 31, 2018 and December 31, 2017:

		2018								2017
(Millions)		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Investment securities:(a)
	Equity securities	$	48	$	1	$	47	$	―	$	48	$	1	$	47	$	―
	Debt securities		3,340		1,661		1,679		―		3,111		1,045		2,066		―
Derivatives(a)			151		―		151		―		210		―		210		―
Total Assets			3,539		1,662		1,877		―		3,369		1,046		2,323		―
Liabilities:
Derivatives(a)			379		―		379		―		218		―		218		―
Total Liabilities		$	379	$	―	$	379	$	―	$	218	$	―	$	218	$	―

Refer to Note 5 for the fair values of investment securities and to Note 9 for the fair values of derivative assets and liabilities, on a further disaggregated basis.

Estimated fair value of financial assets and financial liabilities

The following table summarizes the estimated fair values of our financial assets and financial liabilities that are measured at amortized cost, and not required to be carried at fair value on a recurring basis, as of March 31, 2018 and December 31, 2017. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of March 31, 2018 and December 31, 2017, and require management’s judgment. These figures may not be indicative of future fair values, nor can our fair value be estimated by aggregating the amounts presented.

				Carrying		Corresponding Fair Value Amount
2018 (Billions)				Value		Total		Level 1		Level 2		Level 3
Financial Assets:
	Financial assets for which carrying values equal or approximate fair value
		Cash and cash equivalents(a)	$	31	$	31	$	30	$	1	$	―
		Other financial assets(b)		57		57		―		57		―
	Financial assets carried at other than fair value
		Loans, net(c)		74		75		―		―		75
Financial Liabilities:
	Financial liabilities for which carrying values equal or approximate fair value			77		77		―		77		―
	Financial liabilities carried at other than fair value
		Certificates of deposit(d)		17		17		―		17		―
		Long-term debt(c)	$	52	$	53	$	―	$	53	$	―
				Carrying		Corresponding Fair Value Amount
2017 (Billions)				Value		Total		Level 1		Level 2		Level 3
Financial Assets:
	Financial assets for which carrying values equal or approximate fair value
		Cash and cash equivalents(a)	$	33	$	33	$	32	$	1	$	―
		Other financial assets(b)		57		57		―		57		―
	Financial assets carried at other than fair value
		Loans, net(c)		74		75		―		―		75
Financial Liabilities:
	Financial liabilities for which carrying values equal or approximate fair value			76		76		―		76		―
	Financial liabilities carried at other than fair value
		Certificates of deposit(d)		17		17		―		17		―
		Long-term debt(c)	$	56	$	57	$	―	$	57	$	―

• Level 2 amounts reflect time deposits and short-term investments.
• Includes Card Member receivables (including fair values of Card Member receivables of $7.8 billion and $8.9 billion held by a consolidated VIE as of March 31, 2018 and December 31, 2017, respectively), Other receivables, restricted cash and other miscellaneous assets.
• Balances include amounts held by a consolidated VIE for which the fair values of Card Member loans were $23.9 billion and $25.6 billion as of March 31, 2018 and December 31, 2017, respectively, and the fair values of long-term debt were $15.7 billion and $18.6 billion as of March 31, 2018 and December 31, 2017, respectively.
• Presented as a component of customer deposits on the Consolidated Balance Sheets.