Retirement Plans and Postretirement Medical Benefits

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Notes To Condensed Consolidated Financial Statements [Abstract]

Retirement Plans and Postretirement Medical Benefits [Text Block]

19.Retirement Plans and Postretirement Medical Benefits

We have several defined benefit retirement plans. Benefits are primarily based on employees' compensation and years of service. Our contributions are determined based on the funding requirements of U.S. federal and other governmental laws and regulations. We use a measurement date of December 31 for all of our retirement plans.U.S. employees hired after January 1, 2005, Canadian employees hired after April 1, 2005, and U.K. employees hired after July 1, 2005, are not eligible for our defined benefit retirement plans. As of December 31, 2014, benefit accruals for our U.S. pension plans, the Pitney Bowes Pension Plan, the Pitney Bowes Pension Restoration Plan and the Canadian pension plans, will be determined and frozen and no future benefit accruals under these plans will occur after that date.

The obligations and funded status of defined benefit pension plans are as follows:

	United States				Foreign
	2011		2010		2011		2010
Accumulated benefit obligation	$	1,684,050	$	1,603,320	$	543,599	$	504,471
Projected benefit obligation:
Benefit obligation at beginning of year	$	1,632,286	$	1,599,506	$	541,241	$	507,932
Service cost		19,450		23,157		7,310		6,907
Interest cost		87,738		89,602		28,329		27,507
Plan participants’ contributions		-		-		1,868		1,962
Actuarial loss		94,495		39,971		30,648		27,129
Foreign currency changes		-		-		(6,424)		(5,257)
Settlement / curtailment		2,941		6,419		16		(3,396)
Special termination benefits		1,489		8,148		277		557
Benefits paid		(131,009)		(134,517)		(21,361)		(22,100)
Benefit obligation at end of year	$	1,707,390	$	1,632,286	$	581,904	$	541,241
Fair value of plan assets:
Fair value of plan assets at beginning of year	$	1,385,174	$	1,350,045	$	450,683	$	414,313
Actual return on plan assets		41,388		149,599		(7,478)		50,609
Company contributions		130,983		20,047		18,616		9,291
Plan participants’ contributions		-		-		1,868		1,962
Foreign currency changes		-		-		(3,480)		(3,392)
Benefits paid		(131,009)		(134,517)		(21,361)		(22,100)
Fair value of plan assets at end of year	$	1,426,536	$	1,385,174	$	438,848	$	450,683
Funded status	$	(280,854)	$	(247,112)	$	(143,056)	$	(90,558)
Amounts recognized in the Consolidated Balance Sheets:
Non-current asset	$	40	$	29	$	888	$	508
Current liability		(11,323)		(6,962)		(852)		(901)
Non-current liability		(269,571)		(240,179)		(143,092)		(90,165)
Net amount recognized	$	(280,854)	$	(247,112)	$	(143,056)	$	(90,558)

Information provided in the table below is only for pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2011 and 2010:

	United States				Foreign
	2011		2010		2011		2010
Projected benefit obligation	$	1,705,732	$	1,630,712	$	579,646	$	538,637
Accumulated benefit obligation	$	1,682,392	$	1,601,746	$	541,723	$	502,317
Fair value of plan assets	$	1,424,837	$	1,383,571	$	435,702	$	447,569

Pre-tax amounts recognized in AOCI consist of:
	United States				Foreign
	2011		2010		2011		2010
Net actuarial loss	$	858,531	$	719,890	$	224,731	$	168,376
Prior service cost		2,159		2,400		541		541
Transition asset		-		-		(273)		(282)
Total	$	860,690	$	722,290	$	224,999	$	168,635
The estimated amounts that will be amortized from AOCI into net periodic benefits cost in 2012 are as follows:
Net actuarial loss	$	53,256			$	13,700
Prior service cost		816				99
Transition asset		-				(9)
Total	$	54,072			$	13,790

The components of net periodic pension cost for defined benefit pension plans are as follows:
	United States						Foreign
	2011		2010		2009		2011		2010		2009
Service cost	$	19,450	$	23,157	$	24,274	$	7,310	$	6,907	$	6,853
Interest cost		87,738		89,602		93,997		28,329		27,507		25,200
Expected return on plan assets		(123,058)		(123,095)		(120,662)		(31,784)		(28,838)		(27,193)
Amortization of transition cost		-		-		-		(10)		(9)		(61)
Amortization of prior service (cost) credit		147		(2,575)		(2,547)		170		214		446
Recognized net actuarial loss		37,522		32,343		26,063		11,135		10,205		2,486
Special termination benefits		1,489		8,148		112		277		291		2,385
Settlement / curtailment		3,036		10,712		4,107		274		1,285		202
Net periodic benefit cost (1)	$	26,324	$	38,292	$	25,344	$	15,701	$	17,562	$	10,318

(1) Includes $5 million and $17 million charged to restructuring reserves in 2011 and 2010, respectively. See Note 14 for further information.

Other changes in plan assets and benefit obligations for defined benefit pension plans recognized in other comprehensive income are as follows:

	United States				Foreign
	2011		2010		2011		2010
Curtailments effects and settlements	$	(95)	$	(4,290)	$	(274)	$	(464)
Net actuarial loss		176,164		13,467		67,934		5,748
Prior service credit		-		-		-		(3,790)
Amortization of net actuarial (loss) gain		(37,522)		(32,343)		(11,135)		5,440
Amortization of prior service (cost) credit		(147)		2,575		(170)		(214)
Net transitional obligation (asset)		-		-		9		(86)
Total recognized in other comprehensive income	$	138,400	$	(20,591)	$	56,364	$	6,634

Weighted-average actuarial assumptions used to determine end of year benefit obligations and net periodic pension costs include:

	2011	2010	2009
United States
Used to determine benefit obligations
Discount rate	4.95%	5.60%	5.75%
Rate of compensation increase	3.50%	3.50%	3.50%
Used to determine net periodic benefit costs
Discount rate	5.60%	5.75%	6.05%
Expected return on plan assets	8.00%	8.00%	8.00%
Rate of compensation increase	3.50%	3.50%	4.25%
Foreign
Used to determine benefit obligations
Discount rate	1.80% - 6.10%	2.25% - 5.50%	2.25% - 6.00%
Rate of compensation increase	2.10% - 4.60%	2.50% - 5.50%	2.50% - 5.60%
Used to determine net periodic benefit costs
Discount rate	2.00% - 5.50%	2.25% - 6.00%	2.25% - 6.60%
Expected return on plan assets	4.00% - 7.75%	4.50% - 7.75%	4.49% - 7.75%
Rate of compensation increase	2.10% - 5.50%	2.50% - 5.60%	2.50% - 5.10%

A discount rate is used to determine the present value of our future benefit obligations. The discount rate for our U.S. pension and postretirement medical benefit plans is determined by matching the expected cash flows associated with our benefit obligations to a yield curve based on long-term, high quality fixed income debt instruments available as of the measurement date. For the U.K. retirement benefit plan, our largest foreign plan, the discount rate is determined by discounting each year's estimated benefit payments by an applicable spot rate, derived from a yield curve created from a large number of high quality corporate bonds. For our other smaller foreign pension plans, the discount rate is selected based on high quality fixed income indices available in the country in which the plan is domiciled.

The expected return on plan assets is based on historical and projected rates of return for current and planned asset classes in the plans' investment portfolio after analyzing historical experience and future expectations of the returns and volatility of the various asset classes. The overall expected rate of return for the portfolio was determined based on the target asset allocations for each asset class, adjusted for historical and expected experience of active portfolio management results, when compared to the benchmark returns. When assessing the expected future returns for the portfolio, management placed more emphasis on the expected future returns than historical returns.

U.S. Pension Plans' Investment Strategy and Asset Allocation

Our U.S. pension plans' investment strategy is to maximize returns within reasonable and prudent levels of risk, to achieve and maintain full funding of the accumulated benefit obligations and the actuarial liabilities, and to earn a nominal rate of return of at least 7.75%. The fund has established a strategic asset allocation policy to achieve these objectives. Investments are diversified across asset classes and within each class to reduce the risk of large losses and are periodically rebalanced. Derivatives, such as swaps, options, forwards and futures contracts may be used for market exposure, to alter risk/return characteristics and to manage foreign currency exposure. Investments within the private equity and real estate portfolios are comprised of limited partnership units in primary and secondary fund of funds andunits in open-ended commingled real estate funds, respectively. These types of investment vehiclesare used in an effort to gain greater asset diversification. We do not have any significant concentrations of credit risk within the plan assets.The pension plans' liabilities, investment objectives and investment managers are reviewed periodically.

The target allocation for 2012 and the asset allocation for the U.S. pension plan at December 31, 2011 and 2010, by asset category, are as follows:

	Target Allocation	Percentage of Plan Assets at December 31,
Asset category	2012	2011	2010
U.S. equities	19%	18%	37%
Non-U.S. equities	19%	16%	20%
Fixed income	50%	56%	34%
Real estate	4%	4%	4%
Private equity	8%	6%	5%
Total	100%	100%	100%

The long-term asset allocation targets we use to manage the investment portfolio are based on the broad asset categories shown above. The plan asset categories presented in the fair value hierarchy are subsets of the broad asset categories.

Foreign Pension Plans' Investment Strategy and Asset Allocation

Our foreign pension plan assets are managed by outside investment managers and monitored regularly by local trustees, in conjunction with our corporate personnel. The investment strategies adopted by our foreign plans vary by country and plan, with each strategy tailored to achieve the expected rate of return within an acceptable or appropriate level of risk, depending upon the liability profile of plan participants, local funding requirements, investment markets and restrictions. The U.K. planrepresents 74% of the non-U.S. pension assets. The U.K. pension plan's investment strategy is to maximize returns within reasonable and prudent levels of risk, to achieve and maintain full funding of the accumulated benefit obligations and the actuarial liabilities, and to earn a nominal rate of return of at least 7.25%. The fund has established a strategic asset allocation policy to achieve these objectives. Investments are diversified across asset classes and within each class to minimize the risk of large losses and are periodically rebalanced. Derivatives, such as swaps, options, forwards and futures contracts may be used for market exposure, to alter risk/return characteristics and to manage foreign currency exposure. We do not have any significant concentrations of credit risk within the plan assets.The pension plans' liabilities, investment objectives and investment managers are reviewed periodically.

The target allocation for 2012 and the asset allocation for the U.K. pension plan at December 31, 2011 and 2010, by asset category, are as follows:

	Target Allocation	Percentage of Plan Assets at December 31,
Asset category	2012	2011	2010
U.K. equities	32%	34%	33%
Non-U.K. equities	33%	28%	35%
Fixed income	35%	32%	29%
Cash	-%	6%	3%
Total	100%	100%	100%

The long-term asset allocation targets we use to manage the investment portfolio are based on the broad asset categories shown above. The plan asset categories presented in the fair value hierarchy are subsets of the broad asset categories.

The fair value of the U.K.plan assets was $326 million and $338 million at December 31, 2011 and 2010, respectively, and the expected long-term rate of return on these plan assets was 7.25% in 2011 and 2010.

Fair Value Measurements of Plan Assets

The following tables show, by level within the fair value hierarchy, the financial assets and liabilities that are accounted for at fair value on a recurring basis atDecember 31, 2011 and 2010, respectively, for the U.S. and foreign pension plans. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect placement within the fair value hierarchy levels.

	U.S. Pension Plans - Fair Value Measurements at December 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:
Investment securities
Money market funds	$	-	$	22,064	$	-	$	22,064
Equity securities		218,010		262,152		-		480,162
Commingled fixed income securities		-		177,349		-		177,349
Debt securities - U.S. and foreign governments, agencies, and municipalities		60,411		16,745		-		77,156
Corporate debt securities		-		467,281		-		467,281
Mortgage-backed securities		-		57,922		3,702		61,624
Asset-backed securities		-		919		-		919
Private equity		-		-		88,870		88,870
Real estate		-		-		57,918		57,918
Derivatives		293		-		-		293
Securities lending fund *		-		119,528		-		119,528
Total assets	$	278,714	$	1,123,960	$	150,490	$	1,553,164

* Securities lending fund at December 31, 2011 is offset by a corresponding liability recorded in the Pitney Bowes Pension Plan net assets available for benefits.

	U.S. Pension Plans - Fair Value Measurements at December 31, 2010
	Level 1		Level 2		Level 3		Total
Assets:
Investment securities
Money market funds	$	-	$	20,571	$	-	$	20,571
Equity securities		431,098		346,126		-		777,224
Debt securities - U.S. and foreign governments, agencies, and municipalities		104,097		9,878		-		113,975
Corporate debt securities		-		172,722		-		172,722
Mortgage-backed securities		-		156,516		5,389		161,905
Asset-backed securities		-		18,698		-		18,698
Private equity		-		-		69,495		69,495
Real estate		-		-		52,553		52,553
Derivatives		21		-		-		21
Securities lending fund *		-		158,155		-		158,155
Total assets	$	535,216	$	882,666	$	127,437	$	1,545,319
Liabilities:
Investment securities
Derivatives	$	51	$	-	$	-	$	51
Total liabilities	$	51	$	-	$	-	$	51

* Securities lending fund amount at December 31, 2011 and December 31, 2010 is offset by a corresponding liability recorded in the Pitney Bowes Pension Plan net assets available for benefits.

	Foreign Pension Plans - Fair Value Measurements at December 31, 2010
	Level 1		Level 2		Level 3		Total
Assets:
Investment securities
Equity securities	$	128,859	$	164,389	$	-	$	293,248
Commingled fixed income securities		-		52,330		-		52,330
Debt securities - U.S. and foreign governments, agencies, and municipalities		10,751		27,189		-		37,940
Corporate debt securities		-		49,223		-		49,223
Derivatives		88		6,500		-		6,588
Total assets	$	139,698	$	299,631	$	-	$	439,329
Liabilities:
Investment securities
Derivatives	$	-	$	6,873	$	-	$	6,873
Total liabilities	$	-	$	6,873	$	-	$	6,873

The following information relates to our classification of investments into the fair value hierarchy:

• Money Market Funds: Money market funds typically invest in government securities, certificates of deposit, commercial paper of companies and other highly liquid and low-risk securities. Money market funds are principally used for overnight deposits. The money market funds are classified as Level 2 since they are not actively traded on an exchange.
• Equity Securities:Equity securities include U.S. and foreign common stock, American Depository Receipts, preferred stock and commingled funds. Equity securities classified as Level 1 are valued using active, high volume trades for identical securities. Equity securities classified as Level 2 represent those not listed on an exchange in an active market. These securities are valued based on quoted market prices of similar securities.
• Commingled Fixed Income Securities:Mutual funds that invest in a variety of fixed income securities including securities of theU.S. government and its agencies, corporate debt, mortgage-backed securities and asset-backed securities. Value of the funds is based on the net asset value (NAV) per unit as reported by the fund manager. NAV is based on the market value of the underlying investments owned by each fund, minus its liabilities, divided by the number of shares outstanding. Commingled fixedincome securities are not listed on an active exchange and are classified as Level 2.
• Debt Securities - U.S. and Foreign Governments and its Agencies and Municipalities:Government securities include treasury notes and bonds, foreign government issues, U.S. government sponsored agency debt and commingled funds. Municipal debt securities include general obligation securities and revenue-backed securities. Debt securities classified as Level 1 are valued using active, high volume trades for identical securities. Debt securities classified as Level 2 are valued through benchmarking model derived prices to quoted market prices and trade data for identical or comparable securities.
• Corporate Debt Securities:Investments are comprised of both investment grade debt (≥BBB-) and high-yield debt (≤BBB-). The fair value of corporate debt securities is valued using recently executed transactions, market price quotations where observable, or bond spreads. The spread data used are for the same maturity as the security. These securities are classified as Level 2.
• Mortgage-Backed Securities (MBS):Investments are comprised of agency-backed MBS, non-agency MBS, collateralized mortgage obligations, commercial MBS, and commingled funds. These securities are valued based on external pricing indices. When external index pricing is not observable, MBS are valued based on external price/spread data. If neither pricing method is available, broker quotes are utilized. When inputs are observable and supported by an active market, MBS are classified as Level 2 and when inputs are unobservable, MBS are classified as Level 3.
• Asset-Backed Securities (ABS): Investments are primarily comprised of credit card receivables, auto loan receivables, student loan receivables, and Small Business Administration loans. These securities are valued based on external pricing indices or external price/spread data and are classified as Level 2.
• Private Equity:Investments are comprised of units in fund-of-fund investment vehicles. Fund-of-fundsconsist of various private equity investments and are used in an effort to gain greater diversification. The investments are valued in accordance with the most appropriate valuation techniques, and are classified as Level 3 due to the unobservable inputs used to determinea fair value.
• Real Estate: Investments include units in open-ended commingled real estate funds. Properties that comprise these funds are valued in accordance with the most appropriate valuation techniques, and are classified as Level 3 due to the unobservable inputs used to determine a fair value.
• Derivatives:Instruments are comprised of futures, forwards, options and warrants and are used to gain exposure to a desired investment as well as for defensive hedging purposes against currency and interest rate fluctuations. Derivative instruments classified as Level 1 are valued through a readily available exchange listed price. Derivative instruments classified as Level 2 are valued using observable inputs but are not listed or traded on an exchange.
• Securities Lending Fund:Investment represents a commingled fund through our custodian's securities lending program. The U.S. pension plan lends securities that are held within the plan to other banks and/or brokers, for which we receive collateral. This collateral is invested in the commingled fund, which invests in short-term fixed income securities such as commercial paper, short-term ABS and other short-term issues.Since the commingled fund is not listed or traded on an exchange, the investment is classified as Level 2. The investment is offset by a liability of an equal amount representing assets that participate in securities lending program, which is reflected in the Pitney Bowes Pension Plan's net assets available for benefits.

Level 3 Gains and Losses

The following table shows a summary of the changes in the fair value of Level 3 assets of the U.S. pension plans for the year ended December 31, 2011:

	MBS		Private equity		Real estate		Total
Balance at December 31, 2010	$	5,389	$	69,495	$	52,553	$	127,437
Realized gains / (losses)		(24)		(11)		69		34
Unrealized gains / (losses)		(180)		9,652		7,825		17,297
Net purchases, sales and settlements		(1,483)		9,734		(2,529)		5,722
Balance at December 31, 2011	$	3,702	$	88,870	$	57,918	$	150,490

Reconciliation of Plan Assets to Fair Value Measurements Hierarchy

The following table provides a reconciliation of the total fair value of pension plan assets to the fair value of financial instruments presented in the fair value measurements hierarchy for the U.S. and foreign pension plans at December 31, 2011:

	United States		Foreign
Fair Value of Plan Assets	$	1,426,536	$	438,848
Cash		(1,108)		(16,424)
Securities lending fund liability		119,528		-
Other		8,208		4,397
Fair Value Per Measurements Hierarchy	$	1,553,164	$	426,821

At December 31, 2011 there wereno shares of our common stock included in the plan assets of our pension plans.

In January 2012, we contributed $85 million to our U.S. pension plan and $10 million to our foreign pension plans. We anticipate making additional contributions of approximately $15 million and $20million to our U.S. and foreign pension plans, respectively during 2012. We will reassess our funding alternatives as the year progresses.

Nonpension Postretirement Benefits

We provide certain health care and life insurance benefits to eligible retirees and their dependents. The cost of these benefits is recognized over the period the employee provides credited service to the Company. Substantially all of our U.S. and Canadian employees become eligible for retiree health care benefits after reaching age 55 or in the case of employees of Pitney Bowes Management Services afterreaching age 60 and with the completion of the required service period. U.S. employees hired after January 1, 2005, and Canadian employees hired after April 1, 2005, are not eligible for retiree health care benefits.

The benefit obligation and funded status for nonpension postretirement benefit plans are as follows:

	December 31,
	2011		2010
Benefit obligation:
Benefit obligations at beginning of year	$	280,386	$	254,405
Service cost		3,328		3,724
Interest cost		13,528		13,828
Plan participants’ contributions		8,861		9,182
Actuarial loss		20,792		33,983
Foreign currency changes		(648)		1,061
Benefits paid		(43,964)		(43,563)
Curtailment		3,245		7,575
Special termination benefits		300		191
Benefit obligations at end of year	$	285,828	$	280,386
Fair value of plan assets:
Fair value of plan assets at beginning of year	$	-	$	-
Company contribution		35,103		34,381
Plan participants’ contributions		8,861		9,182
Gross benefits paid		(43,964)		(43,563)
Fair value of plan assets at end of year	$	-	$	-
Funded status	$	(285,828)	$	(280,386)
Amounts recognized in the Consolidated Balance Sheets:
Current liability	$	(28,855)	$	(29,374)
Non-current liability		(256,973)		(251,012)
Net amount recognized	$	(285,828)	$	(280,386)
Pre-tax amounts recognized in AOCI consist of:
Net actuarial loss	$	115,713	$	102,910
Prior service credit		(5,696)		(5,886)
Total	$	110,017	$	97,024

(1) The benefit obligation for the United States nonpension postretirement plans was $262 and $259 million December 31, 2011 and 2010

The components of net periodic benefit cost for nonpension postretirement benefit plans are as follows:
	2011		2010		2009
Service cost	$	3,328	$	3,724	$	3,424
Interest cost		13,528		13,828		14,437
Amortization of prior service benefit		(2,504)		(2,511)		(2,475)
Recognized net actuarial loss		7,666		6,793		4,092
Curtailment		2,839		6,954		-
Special termination benefits		300		191		-
Net periodic benefit cost (1)	$	25,157	$	28,979	$	19,478

(1) Includes $3 million and $7 million charged to restructuring reserves in 2011 and 2010, respectively. See Note 14 for further information.

Other changes in plan assets and benefit obligation for nonpension postretirement benefit plans recognized in other comprehensive income are as follows:

	2011		2010
Net actuarial loss	$	22,201	$	34,059
Amortization of net actuarial loss		(9,980)		(6,793)
Amortization of prior service credit		2,504		2,511
Adjustment for actual Medicare Part D Premium		(2,040)		979
Curtailment		308		621
Total recognized in other comprehensive income	$	12,993	$	31,377
The estimated amounts that will be amortized from AOCI into net periodic benefit costs in 2012 are as follows:
Net actuarial loss	$	9,456
Prior service credit		(2,092)
Total	$	7,364

The weighted-average discount rates used to determine end of year benefit obligations and net periodic pension costs include:

	2011		2010		2009
Discount rate used to determine benefit obligation
U.S.		4.50%		5.15%		5.35%
Canada		4.15%		5.15%		5.85%
Discount rate used to determine net periodic benefit cost
U.S.		5.15%		5.35%		5.95%
Canada		5.15%		5.85%		6.60%

The assumed health care cost trend rate used in measuring the accumulated postretirement benefit obligations for the U.S. plan was 7.5% for 2011 and 2010. The assumed health care trend rate is 7.5% for 2012 and will gradually decline to 5.0% by the year 2017 and remain at that level thereafter.Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A 1% change in the assumed health care cost trend rates would have the following effects:

	1% Increase		1% Decrease
Effect on total of service and interest cost components	$	615	$	(520)
Effect on postretirement benefit obligations	$	10,208	$	(8,859)

Estimated Future Benefit Payments

Benefit payments, which reflect expected future service, as appropriate, estimated to be paid during the years ended December 31 are as follows:

	Pension Benefits		Nonpension Benefits (1)
2012	$	147,108	$	29,527
2013		125,404		27,887
2014		126,052		26,583
2015		128,463		25,245
2016		130,009		24,272
2017-2021		666,672		105,199
	$	1,323,708	$	238,713

(1) The estimated future benefit payments for nonpension plans are net of expected Medicare Part D subsidy.

Savings Plans

Our U.S. employees are eligible to participate in 401(k) savings plans, which are voluntary defined contribution plans. These plans are designed to help employees accumulate additional savings for retirement. We make matching contributions on a portion of eligible pay. In 2011 and 2010, we made matching contributions of $30 million and $29 million, respectively.

	Foreign Pension Plans - Fair Value Measurements at December 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:
Investment securities
Money market funds	$	-	$	7,236	$	-	$	7,236
Equity securities		113,257		150,787		-		264,044
Commingled fixed income securities		-		127,611		-		127,611
Debt securities - U.S. and foreign governments, agencies, and municipalities		13,616		-		-		13,616
Corporate debt securities		-		7,150		-		7,150
Derivatives		-		7,164		-		7,164
Total assets	$	126,873	$	299,948	$	-	$	426,821
Liabilities:
Investment securities
Derivatives	$	-	$	6,782	$	-	$	6,782
Total liabilities	$	-	$	6,782	$	-	$	6,782