NOTE 9 - OTHER ASSETS

The components of other assets are presented in the following table:



(Dollars in millions)	March 31, 2018		December 31, 2017
Equity securities with readily determinable fair values:
Mutual fund investments ¹		$135		$49
Other equity ¹	8		7
Equity securities without readily determinable fair values:
FHLB of Atlanta stock ¹	15		15
Federal Reserve Bank of Atlanta stock ¹	403		403
Other equity	52		26
Lease assets	1,567		1,528
Bank-owned life insurance	1,402		1,411
Community development investments ²	1,383		1,331
Accrued income	936		880
Accounts receivable	768		2,201
Pension assets, net	476		464
Prepaid expenses	279		319
OREO	59		57
Other	796		727
Total other assets		$8,279		$9,418

¹Beginning January 1, 2018, the Company reclassified equity securities previously presented in Securities available for sale to Other assets on the Consolidated Balance Sheets. Reclassifications have been made to previously reported amounts for comparability.

²See Note 10, "Certain Transfers of Financial Assets and Variable Interest Entities," for additional information.

Pursuant to the adoption of ASU 2016-01 on January 1, 2018, the Company elected the measurement alternative for measuring its other equity securities without readily determinable fair values. As reflected in the preceding table, the carrying amount of these other equity securities was $52 million and $26 million at March 31, 2018 and December 31, 2017, respectively. During the three months ended March 31, 2018, an observable transaction occurred relating to these equity securities, which resulted in a remeasurement gain of $23 million recognized in Other noninterest income in the Company's Consolidated Statements of Income. There were no remeasurement losses on these equity securities during the three months ended March 31, 2018. See the “Equity Securities” and “Accounting Pronouncements” sections of Note 1, “Significant Accounting Policies,” for additional information on the Company's adoption of ASU 2016-01 and for policy updates related to equity securities.

Lease assets consist primarily of operating leases in which the Company is the lessor. In these scenarios, the Company leases assets and receives periodic rental payments. Depreciation on the leased asset is recognized over the term of the operating lease. Any impairment on the leased asset is recognized to the extent that the carrying value of the asset is not recoverable and is greater than its fair value.

Bank-owned life insurance consists of life insurance policies held on certain employees for which the Company is the beneficiary. These policies provide the Company an efficient form of funding for long-term retirement and other employee benefits costs.

Pension assets (net) represent the funded status of the Company's overfunded pension and other postretirement benefits plans, measured as the difference between the fair value of plan assets and the benefit obligation at period end.