Fair Value Of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value Of Financial Instruments [Abstract]

Carrying Value And Fair Value Of Financial Instruments


	As of December 31,
	2011				2010
In millions	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Assets:
Investments held as available-for-sale and held at fair value	$	8,586	$	8,586	$	11,739	$	11,739
Other investments		107		107		188		188
Cash and cash equivalents		473		473		366		366
Receivable for investments sold		32		32		8		8
Non-insured derivatives		2		2		4		4
Assets of consolidated VIEs:
Cash		160		160		764		764
Investments held-to-maturity		3,843		3,489		4,039		3,760
Fixed-maturity securities held as available-for-sale		432		432		339		339
Fixed-maturity securities held as trading		2,884		2,884		5,241		5,241
Loans receivable		2,046		2,046		2,183		2,183
Loan repurchase commitments		1,077		1,077		835		835
Derivative assets		450		450		699		699
Liabilities:
Investment agreements		1,578		1,853		2,005		2,172
Medium-term notes		1,656		1,187		1,740		766
Securities sold under agreements to repurchase		287		286		471		454
Short-term debt		—		—		65		65
Long-term debt		1,840		1,117		1,851		1,155
Payable for investments purchased		3		3		2		2
Derivative liabilities:
Insured derivatives		4,808		4,808		4,375		4,375
Non-insured derivatives		356		356		242		242

Total derivative liabilities		5,164		5,164		4,617		4,617
Warrants		38		38		58		58
Liabilities of consolidated VIEs:
Variable interest entity notes		8,697		8,051		10,590		10,285
Long-term debt		360		368		360		340
Derivative liabilities		825		825		2,104		2,104
Financial Guarantees:
Gross		1,305		1,451		2,743		2,225
Ceded		104		94		112		48

Company's Assets And Liabilities Measured At Fair Value On Recurring Basis

	Fair Value Measurements at Reporting Date Using
In millions	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Counterparty and Cash Collateral Netting			Balance as of December 31, 2011
Assets:
Investments:
Fixed-maturity investments:
Taxable bonds:
U.S. Treasury and government agency	$	1,038	$	103	$	—	$	—		$	1,141
Foreign governments		277		62		11		—			350
Corporate obligations		1		1,531		206		—			1,738
Mortgage-backed securities:
Residential mortgage-backed agency		—		1,276		8		—			1,284
Residential mortgage-backed non-agency		—		350		17		—			367
Commercial mortgage-backed		—		34		24		—			58
Asset-backed securities:
Collateralized debt obligations		—		78		60		—			138
Other asset-backed		—		130		318		—			448
State and municipal bonds		—		924		—		—			924

Total taxable bonds		1,316		4,488		644		—			6,448
Tax exempt bonds:
State and municipal bonds		—		1,137		28		—			1,165
Other fixed-maturity investments		—		15		—		—			15

Total fixed-maturity investments		1,316		5,640		672		—			7,628
Money market securities		912		—		—		—			912
Perpetual preferred securities		—		106		1		—			107
Other		25		—		10		—			35

Total		2,253		5,746		683		—			8,682
Derivative assets:
Non-insured derivative assets:
Credit derivatives		—		1		—		—			1
Interest rate derivatives		—		91		3		—			94
Other		—		—		—		(93	)		(93	)

Total derivative assets		—		92		3		(93	)		2


	Fair Value Measurements at Reporting Date Using
In millions	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Counterparty and Cash Collateral Netting			Balance as of December 31, 2011
Assets of consolidated VIEs:
Corporate obligations		—		170		69		—			239
Mortgage-backed securities:
Residential mortgage-backed agency		—		3		—		—			3
Residential mortgage-backed non-agency		—		1,437		21		—			1,458
Commercial mortgage-backed		—		559		22		—			581
Asset-backed securities:
Collateralized debt obligations		—		330		203		—			533
Other asset-backed		—		236		67		—			303

Total fixed maturity securities at fair value		—		2,735		382		—			3,117
Money market securities		199		—		—		—			199
Loans receivable		—		—		2,046		—			2,046
Loan repurchase commitments		—		—		1,077		—			1,077
Derivative assets:
Credit derivatives		—		—		447		—			447
Interest rate derivatives		—		3		—		—			3

Total assets	$	2,452	$	8,576	$	4,638	$	(93	)	$	15,573

Liabilities:
Medium-term notes	$	—	$	—	$	165	$	—		$	165
Derivative liabilities:
Insured derivatives:
Credit derivatives		—		18		4,790		—			4,808
Non-insured derivatives:
Interest rate derivatives		—		445		—		—			445
Currency derivatives		—		4		—		—			4
Other		—		—		—		(93	)		(93	)
Other liabilities:
Warrants		—		38		—		—			38
Liabilities of consolidated VIEs:
Variable interest entity notes		—		1,865		2,889		—			4,754
Derivative liabilities:
Credit derivatives		—		—		527		—			527
Interest rate derivatives		—		281		—		—			281
Currency derivatives		—		—		17		—			17

Total liabilities	$	—	$	2,651	$	8,388	$	(93	)	$	10,946


	Fair Value Measurements at Reporting Date Using
In millions	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Counterparty and Cash Collateral Netting			Balance as of December 31, 2010
Assets:
Investments:
Fixed-maturity investments:
Taxable bonds:
U.S. Treasury and government agency	$	915	$	149	$	—	$	—		$	1,064
Foreign governments		409		49		11		—			469
Corporate obligations		—		2,602		246		—			2,848
Mortgage-backed securities:
Residential mortgage-backed agency		—		1,548		41		—			1,589
Residential mortgage-backed non-agency		—		414		48		—			462
Commercial mortgage-backed		—		120		41		—			161
Asset-backed securities:
Collateralized debt obligations		—		108		191		—			299
Other asset-backed		—		310		350		—			660
State and municipal bonds		—		738		14		—			752

Total taxable bonds		1,324		6,038		942		—			8,304
Tax exempt bonds:
State and municipal bonds		—		2,787		36		—			2,823
Other fixed-maturity investments		13		19		—		—			32

Total fixed-maturity investments		1,337		8,844		978		—			11,159
Money market securities		553		—		—		—			553
Perpetual preferred securities		—		192		—		—			192
Other		16		5		—		—			21

Total		1,906		9,041		978		—			11,925
Derivative assets:
Non-insured derivative assets:
Credit derivatives		—		3		—		—			3
Interest rate derivatives		—		57		5		—			62
Other		—		—		—		(61	)		(61	)

Total derivative assets		—		60		5		(61	)		4


	Fair Value Measurements at Reporting Date Using
In millions	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Counterparty and Cash Collateral Netting			Balance as of December 31, 2010
Assets of consolidated VIEs:
U.S. Treasury and government agency		4		—		—		—			4
Corporate obligations		7		360		82		—			449
Mortgage-backed securities:
Residential mortgage-backed agency		—		37		—		—			37
Residential mortgage-backed non-agency		—		2,706		40		—			2,746
Commercial mortgage-backed		—		907		23		—			930
Asset-backed securities:
Collateralized debt obligations		—		583		245		—			828
Other asset-backed		—		352		81		—			433
State and municipal taxable and tax-exempt bonds		—		4		—		—			4

Total fixed maturity securities at fair value		11		4,949		471		—			5,431
Money market securities		150		—		—		—			150
Loans receivable		—		—		2,183		—			2,183
Loan repurchase commitments		—		—		835		—			835
Derivative assets:
Credit derivatives		—		—		687		—			687
Interest rate derivatives		—		12		—		—			12

Total assets	$	2,067	$	14,062	$	5,159	$	(61	)	$	21,227

Liabilities:
Medium-term notes	$	—	$	—	$	116	$	—		$	116
Derivative liabilities:
Insured derivatives:
Credit derivatives		—		25		4,350		—			4,375
Non-insured derivatives:
Interest rate derivatives		—		297		—		—			297
Currency derivatives		—		6		—		—			6
Other		—		—		—		(61	)		(61	)
Other liabilities:
Warrants		—		58		—		—			58
Liabilities of consolidated VIEs:
Variable interest entity notes		—		2,007		4,673		—			6,680
Derivative liabilities:
Credit derivatives		—		—		1,455		—			1,455
Interest rate derivatives		—		635		—		—			635
Currency derivatives		—		—		14		—			14

Total liabilities	$	—	$	3,028	$	10,608	$	(61	)	$	13,575

Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis

In millions	Balance, Beginning of Year		Realized Gains / (Losses)			Unrealized Gains / (Losses) Included in Earnings			Unrealized Gains / (Losses) Included in OCI			Foreign Exchange Recognized in OCI or Earnings			Purchases		Issuances		Settlements			Sales			Transfers into Level 3⁽¹⁾		Transfers out of Level 3⁽¹⁾			Ending Balance		Change in Unrealized Gains (Losses) for the Period Included in Earnings for Assets still held as of December 31, 2011
Assets:
Foreign governments	$	11	$	—		$	—		$	—		$	(7	)	$	13	$	—	$	(5	)	$	(1	)	$	7	$	(7	)	$	11	$	—
Corporate obligations		246		(4	)		—			(8	)		7			20		—		(127	)		(62	)		166		(32	)		206		—
Residential mortgage-backed agency		41		—			—			1			—			2		—		(1	)		(2	)		8		(41	)		8		—
Residential mortgage-backed non-agency		48		(2	)		—			10			2			12		—		(22	)		(18	)		10		(23	)		17		—
Commercial mortgage-backed		41		(2	)		—			—			1			9		—		(3	)		(21	)		—		(1	)		24		—
Collateralized debt obligations		191		(4	)		—			25			2			6		3		(121	)		4			50		(96	)		60		—
Other asset-backed		350		—			—			(30	)		—			9		—		(22	)		(2	)		78		(65	)		318		—
State and municipal taxable bonds		14		1			—			—			—			—		—		(15	)		—			—		—			—		—
State and municipal tax-exempt bonds		36		—			—			—			—			2		—		(9	)		(1	)		—		—			28		—
Perpetual preferred securities		—		—			—			—			—			—		—		—			—			1		—			1		—
Other investments		—		—			—			—			—			10		—		—			—			—		—			10		—
Assets of consolidated VIEs:
Corporate obligations		82		—			(17	)		—			—			—		—		(6	)		—			17		(7	)		69		(2	)
Residential mortgage-backed non-agency		40		—			(3	)		3			—			—		—		(6	)		(6	)		13		(20	)		21		—
Commercial mortgage-backed		23		—			9			—			—			—		—		(2	)		(13	)		7		(2	)		22		3
Collateralized debt obligations		245		—			(25	)		(7	)		—			60		—		(7	)		(39	)		71		(95	)		203		5
Other asset-backed		81		—			(10	)		—			—			—		—		(2	)		(19	)		19		(2	)		67		(4	)
Loans receivable		2,183		—			132			—			—			24		—		(291	)		(2	)		—		—			2,046		132
Loan repurchase commitments		835		—			230			—			—			—		12		—			—			—		—			1,077		230

Total assets	$	4,467	$	(11	)	$	316		$	(6	)	$	5		$	167	$	15	$	(639	)	$	(182	)	$	447	$	(391	)	$	4,188	$	364


In millions	Balance, Beginning of Year			Realized (Gains) / Losses		Unrealized (Gains) / Losses Included in Earnings			Unrealized (Gains) / Losses Included in OCI		Foreign Exchange Recognized in OCI or Earnings			Purchases			Issuances		Settlements			Sales			Transfers into Level 3⁽¹⁾		Transfers out of Level 3⁽¹⁾		Ending Balance			Change in Unrealized (Gains) Losses for the Period Included in Earnings for Liabilities still held as of December 31, 2011
Liabilities:
Medium-term notes	$	116		$	—	$	78		$	—	$	(4	)	$	—		$	—	$	(25	)	$	—		$	—	$	—	$	165		$	78
Credit derivatives, net		4,350			2,477		440			—		—			(8	)		—		(2,477	)		—			8		—		4,790			2,702
Interest rate derivatives, net		(5	)		—		1			—		—			—			—		—			—			1		—		(3	)		12
Liabilities of consolidated VIEs:
VIE notes		4,673			—		94			—		—			—			—		(554	)		(1,324	)		—		—		2,889			94
Credit derivatives, net		768			—		(11	)		—		—			—			—		—			(677	)		—		—		80			(80	)
Currency derivatives, net		14			—		3			—		—			—			—		—			—			—		—		17			3

Total liabilities	$	9,916		$	2,477	$	605		$	—	$	(4	)	$	(8	)	$	—	$	(3,056	)	$	(2,001	)	$	9	$	—	$	7,938		$	2,809

(1)	Transferred in and out at the end of the period.

Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Year Ended December 31, 2010


In millions	Balance, Beginning of Year		Realized Gains / (Losses)			Unrealized Gains / (Losses) Included in Earnings			Unrealized Gains / (Losses) Included in OCI		Foreign Exchange Recognized in OCI or Earnings			Purchases, Issuances and Settlements, net			Transfers into Level 3⁽¹⁾		Transfers out of Level 3⁽¹⁾			Ending Balance		Change in Unrealized Gains (Losses) for the Period Included in Earnings for Assets still held as of December 31, 2010
Assets:
U.S. Treasury and government agency	$	6	$	—		$	—		$	—	$	—		$	21		$	—	$	(27	)	$	—	$	—
Foreign governments		12		—			—			—		1			5			—		(7	)		11		—
Corporate obligations		358		(1	)		—			54		(2	)		(158	)		81		(86	)		246		—
Residential mortgage-backed agency		48		—			—			3		—			(6	)		41		(45	)		41		—
Residential mortgage-backed non-agency		64		(3	)		—			38		—			(22	)		53		(82	)		48		—
Commercial mortgage-backed		43		—			—			3		(1	)		(4	)		2		(2	)		41		—
Collateralized debt obligations		245		(14	)		—			74		—			(100	)		142		(156	)		191		—
Other asset-backed		379		—			—			22		—			(55	)		32		(28	)		350		—
State and municipal taxable bonds		—		—			—			—		—			14			—		—			14		—
State and municipal tax-exempt bonds		50		—			—			1		—			(15	)		—		—			36		—
Other fixed-maturity investments		19		—			—			—		—			(19	)		—		—			—		—
Assets of consolidated VIEs:
Corporate obligations		—		—			6			—		—			83			3		(10	)		82		(19	)
Residential mortgage-backed non-agency		166		(1	)		(2	)		3		—			(122	)		25		(29	)		40		4
Commercial mortgage-backed		3		—			19			—		—			23			2		(24	)		23		(1	)
Collateralized debt obligations		42		—			(71	)		—		—			272			9		(7	)		245		8
Other asset-backed		193		—			97			—		—			(150	)		—		(59	)		81		3
Loans receivable		—		—			36			—		21			2,126			—		—			2,183		36
Loan repurchase commitments		—		—			120			—		—			715			—		—			835		120

Total assets	$	1,628	$	(19	)	$	205		$	198	$	19		$	2,608		$	390	$	(562	)	$	4,467	$	151


In millions	Balance, Beginning of Year			Realized Gains / (Losses)			Unrealized (Gains) / Losses Included in Earnings		Unrealized Gains / (Losses) Included in OCI		Foreign Exchange Recognized in OCI or Earnings			Purchases, Issuances and Settlements, net			Transfers into Level 3⁽¹⁾		Transfers out of Level 3⁽¹⁾		Ending Balance			Change in Unrealized (Gains) Losses for the Period Included in Earnings for Liabilities still held as of December 31, 2010
Liabilities:
Medium-term notes	$	110		$	—		$	13	$	—	$	(7	)	$	—		$	—	$	—	$	116		$	13
Credit derivatives, net		3,799			282			609		—		—			(340	)		—		—		4,350			1,338
Interest rate derivatives, net		(6	)		(8	)		5		—		4			—			—		—		(5	)		3
Currency derivatives, net		(3	)		—			5		—		(2	)		—			—		—		—			—
Liabilities of consolidated VIEs:
VIE notes		—			—			522		—		39			4,112			—		—		4,673			522
Credit derivatives, net		—			—			23		—		—			745			—		—		768			24
Currency derivatives, net		—			—			—		—		—			14			—		—		14			—

Total liabilities	$	3,900		$	274		$	1,177	$	—	$	34		$	4,531		$	—	$	—	$	9,916		$	1,900

(1)—Transferred in and out at the end of the period.

Gains And Losses (Realized And Unrealized) Included In Earnings Pertaining To Level 3 Assets And Liabilities


	Year Ended December 31, 2011
							Consolidated VIEs
In millions	Unrealized Gains (Losses) on Insured Derivatives		Net Realized Gains (Losses)		Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange		Net Realized Gains (Losses)		Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange
Total gains (losses) included in earnings	$	(440)	$	(2,488)	$	(75)	$	—	$	230

Change in unrealized gains (losses) for the period included in earnings for assets and liabilities still held as of December 31, 2011	$	(2,702)	$	—	$	(86)	$	—	$	347


	Year Ended December 31, 2010
							Consolidated VIEs
In millions	Unrealized Gains (Losses) on Insured Derivatives		Net Realized Gains (Losses)		Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange		Net Realized Gains (Losses)		Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange
Total gains (losses) included in earnings	$	(609)	$	(282)	$	(11)	$	—	$	(340)

Change in unrealized gains (losses) for the period included in earnings for assets and liabilities still held as of December 31, 2010	$	(1,338)	$	—	$	(3)	$	—	$	(395)


	Year Ended December 31, 2009
							Consolidated VIEs
In millions	Unrealized Gains (Losses) on Insured Derivatives		Net Realized Gains (Losses)		Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange		Net Realized Gains (Losses)		Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange
Total gains (losses) included in earnings	$	1,380	$	146	$	(11)	$	—	$	—

Change in unrealized gains (losses) for the period included in earnings for assets and liabilities still held as of December 31, 2009	$	1,140	$	—	$	(11)	$	—	$	—

Changes In Fair Value Included In The Company's Consolidated Income Statements


	Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange
In millions	2011			2010
Fixed-maturity securities held at fair value	$	(484	)	$	374
Loans receivable at fair value:
Residential mortgage loans		(143	)		295
Other loans		(19	)		(26	)
Loan repurchase commitments		242			336
Other assets		—			26
Long-term debt		594			(661	)

Aggregate Fair Value And The Aggregate Remaining Contractual Principal Balance Outstanding


	As of December 31,
	2011						2010
In millions	Contractual Outstanding Principal		Fair Value		Difference		Contractual Outstanding Principal		Fair Value		Difference
Loans receivable at fair value:
Residential mortgage loans	$	2,769	$	1,895	$	874	$	3,334	$	2,014	$	1,320
Residential mortgage loans (90 days or more past due)		259		—		259		243		—		243
Other loans		129		43		86		412		124		288
Other loans (90 days or more past due)		324		108		216		149		45		104

Total loans receivable at fair value	$	3,481	$	2,046	$	1,435	$	4,138	$	2,183	$	1,955
Long-term debt	$	13,583	$	4,754	$	8,829	$	17,217	$	6,680	$	10,537

- Definition

Tabular disclosure of the total amount of gains or losses for the period which are included in earnings or resulted in a change to net assets which gains or losses have arisen from the use of significant unobservable inputs (Level 3) to measure the fair value of assets and liabilities. Such gains or losses are attributable to the change in unrealized gains or losses relating to those assets and liabilities so valued which are still held at the reporting date and which change are also considered for disclosure; it may be expected that a description of where those unrealized gains or losses are reported in the statement of income or the statement of financial position would also be disclosed.

+ References+ Details

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-Subparagraph (a)

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-Name Accounting Standards Codification

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Statement of Financial Accounting Standard (FAS)

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-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph c(2), d, e, f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Statement of Financial Accounting Standard (FAS)

-Number 157

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-Subparagraph a, c(1), c(2), c(3), d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 19

-Subparagraph a, b, c(1), d(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19279-110258

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 33

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

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Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258

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-Name Accounting Standards Codification

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-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258

+ Details