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Fair Value Measurements - Changes in Fair Value of Level 3 Assets and Liabilities (Detail) - Level 3 [Member] - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value Assets, Beginning Balance $ 867 $ 2,152 $ 2,088 $ 2,207
Fair Value Assets, Gains (Losses) Included In Earnings 43 (24) 82 (58)
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income 4 0 6 (4)
Fair Value Assets, Purchases 0 0 0 0
Fair Value Assets, Issuances 0 0 0 0
Fair Value Assets, Settlements (9) (16) (1,272) (33)
Fair Value Assets, Transfers Into Level 3 0 (1) 0 (1)
Fair Value Assets, Transfers Out of Level 3 (7) 2 (6) 2
Fair Value Assets, Ending Balance 898 2,113 898 2,113
Fair Value Assets, Current Period Unrealized Gains (Losses) 36 (10) 115 (46)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value Liability, Beginning Balance (1,402) (1,546) (1,337) (1,538)
Fair Value Liability, Gains (Losses) Included In Earnings (50) (3) (107) 29
Fair Value, Liability, Gains (Losses) Included in Other Comprehensive Income 3 6 (5) 8
Fair Value Liability, Purchases 0 0 0 0
Fair Value Liability, Issuances (82) (116) (209) (322)
Fair Value Liability, Settlements 84 112 142 201
Fair Value Liability, Transfers Into Level 3 (5) (10) (5) (13)
Fair Value Liability, Transfers Out of Level 3 81 124 150 202
Fair Value Liability, Ending Balance (1,371) (1,433) (1,371) (1,433)
Fair Value Liability, Current Period Unrealized Gains (Losses) (39) 9 (196) 43
Interest rate contracts [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Derivatives, net, Beginning Balance [1] 7   2  
Derivatives, net, Gains (Losses) included in Earnings [1] 8   13  
Derivatives, net, Gains (Losses) included in Other Comprehensive Income [1] 0   0  
Derivatives, net, Purchases [1] 0   0  
Derivatives, net, Issuances [1] 0   0  
Derivatives, net, Settlements [1] 0   0  
Derivatives, net, Transfers into Level 3 [1] 0   0  
Derivatives, net, Transfers out of Level 3 [1] (5)   (5)  
Derivatives, net, Ending Balance [1] 10   10  
Derivatives, net, Current Period Unrealized Gains (Losses) [1] 3   8  
Foreign exchange contracts [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Derivatives, net, Beginning Balance [1] (1) 0 (1) [2] 0
Derivatives, net, Gains (Losses) included in Earnings [1] 0 (1) 0 (1)
Derivatives, net, Gains (Losses) included in Other Comprehensive Income [1] 0 0 0 0
Derivatives, net, Purchases [1] 0 0 0 0
Derivatives, net, Issuances [1] 0 0 0 0
Derivatives, net, Settlements [1] 0 0 0 0
Derivatives, net, Transfers into Level 3 [1] 0 0 0 0
Derivatives, net, Transfers out of Level 3 [1] 0 0 0 0
Derivatives, net, Ending Balance [1] (1) [2] (1) (1) [2] (1)
Derivatives, net, Current Period Unrealized Gains (Losses) [1] 0 (1) 0 (1)
Equity contracts [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Derivatives, net, Beginning Balance [1] 24 27 (52) [2] 81
Derivatives, net, Gains (Losses) included in Earnings [1] 39 (10) 110 (50)
Derivatives, net, Gains (Losses) included in Other Comprehensive Income [1] 0 0 0 0
Derivatives, net, Purchases [1] 0 0 0 0
Derivatives, net, Issuances [1] 0 0 0 0
Derivatives, net, Settlements [1] 1 (16) 5 (30)
Derivatives, net, Transfers into Level 3 [1] 0 (1) 0 (1)
Derivatives, net, Transfers out of Level 3 [1] (2) 2 (1) 2
Derivatives, net, Ending Balance [1] 62 [2] 2 62 [2] 2
Derivatives, net, Current Period Unrealized Gains (Losses) [1] 40 (7) 115 (45)
Credit contracts [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Derivatives, net, Beginning Balance [1] 53 113 52 114
Derivatives, net, Gains (Losses) included in Earnings [1] (3) 1 (40) 2
Derivatives, net, Gains (Losses) included in Other Comprehensive Income [1] 0 0 0 0
Derivatives, net, Purchases [1] 0 0 0 0
Derivatives, net, Issuances [1] 0 0 0 0
Derivatives, net, Settlements [1] (4) (4) 34 (6)
Derivatives, net, Transfers into Level 3 [1] 0 0 0 0
Derivatives, net, Transfers out of Level 3 [1] 0 0 0 0
Derivatives, net, Ending Balance [1] 46 110 46 110
Derivatives, net, Current Period Unrealized Gains (Losses) [1] (2) (3) (2) (4)
Other Contracts [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Derivatives, net, Beginning Balance [1] (37) (44) (35) (46)
Derivatives, net, Gains (Losses) included in Earnings [1] (3) (12) (9) (14)
Derivatives, net, Gains (Losses) included in Other Comprehensive Income [1] 0 0 0 0
Derivatives, net, Purchases [1] 0 0 0 0
Derivatives, net, Issuances [1] 0 0 0 0
Derivatives, net, Settlements [1] 5 5 9 9
Derivatives, net, Transfers into Level 3 [1] 0 0 0 0
Derivatives, net, Transfers out of Level 3 [1] 0 0 0 0
Derivatives, net, Ending Balance [1] (35) (51) (35) (51)
Derivatives, net, Current Period Unrealized Gains (Losses) [1] 0 0 0 0
Domestic Deposits [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value Liability, Beginning Balance [3] (949) (916) (925) [2],[4] (897)
Fair Value Liability, Gains (Losses) Included In Earnings [3] (35) 2 (64) 23
Fair Value, Liability, Gains (Losses) Included in Other Comprehensive Income [3] 2 5 (3) 3
Fair Value Liability, Purchases [3] 0 0 0 0
Fair Value Liability, Issuances [3] (49) (88) (145) (179)
Fair Value Liability, Settlements [3] 64 38 109 60
Fair Value Liability, Transfers Into Level 3 [3] (5) (10) (5) (13)
Fair Value Liability, Transfers Out of Level 3 [3] 42 93 103 127
Fair Value Liability, Ending Balance [3] (930) [2],[4] (876) (930) [2],[4] (876)
Fair Value Liability, Current Period Unrealized Gains (Losses) [3] (30) 8 (135) 25
Long-term debt [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value Liability, Beginning Balance [3] (453) (630) (412) [2],[4] (641)
Fair Value Liability, Gains (Losses) Included In Earnings [3] (15) (5) (43) 6
Fair Value, Liability, Gains (Losses) Included in Other Comprehensive Income [3] 1 1 (2) 5
Fair Value Liability, Purchases [3] 0 0 0 0
Fair Value Liability, Issuances [3] (33) (28) (64) (143)
Fair Value Liability, Settlements [3] 20 74 33 141
Fair Value Liability, Transfers Into Level 3 [3] 0 0 0 0
Fair Value Liability, Transfers Out of Level 3 [3] 39 31 47 75
Fair Value Liability, Ending Balance [3] (441) [2],[4] (557) (441) [2],[4] (557)
Fair Value Liability, Current Period Unrealized Gains (Losses) [3] (9) 1 (61) 18
Trading assets, excluding derivatives [Member] | Collateralized debt obligations [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value Assets, Beginning Balance [5] 90 131 100 129
Fair Value Assets, Gains (Losses) Included In Earnings [5] 2 1 3 8
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income [5] 0 0 0 0
Fair Value Assets, Purchases [5] 0 0 0 0
Fair Value Assets, Issuances [5] 0 0 0 0
Fair Value Assets, Settlements [5] (6) (1) (17) (6)
Fair Value Assets, Transfers Into Level 3 [5] 0 0 0 0
Fair Value Assets, Transfers Out of Level 3 [5] 0 0 0 0
Fair Value Assets, Ending Balance [5] 86 131 86 131
Fair Value Assets, Current Period Unrealized Gains (Losses) [5] (4) 1 (10) 8
Trading assets, excluding derivatives [Member] | Residential mortgage asset-backed securities [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value Assets, Beginning Balance 16   16 [5]  
Fair Value Assets, Gains (Losses) Included In Earnings 0   0 [5]  
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income [5] 0   0  
Fair Value Assets, Purchases 0   0 [5]  
Fair Value Assets, Issuances 0   0 [5]  
Fair Value Assets, Settlements 0   0 [5]  
Fair Value Assets, Transfers Into Level 3 0   0  
Fair Value Assets, Transfers Out of Level 3 0   0 [5]  
Fair Value Assets, Ending Balance [5] 16   16  
Fair Value Assets, Current Period Unrealized Gains (Losses) 0   0 [5]  
Trading assets, excluding derivatives [Member] | Student loan asset-backed securities [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value Assets, Beginning Balance 95   92  
Fair Value Assets, Gains (Losses) Included In Earnings 0   5 [5]  
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income 0 [5]   0  
Fair Value Assets, Purchases 0   0  
Fair Value Assets, Issuances 0   0  
Fair Value Assets, Settlements (5)   (7)  
Fair Value Assets, Transfers Into Level 3 0   0  
Fair Value Assets, Transfers Out of Level 3 0   0  
Fair Value Assets, Ending Balance 90   90  
Fair Value Assets, Current Period Unrealized Gains (Losses) (5)   (2)  
Trading assets, excluding derivatives [Member] | Corporate and other domestic debt securities [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value Assets, Beginning Balance 510 [5] 1,803 [5] 1,803 1,803 [5]
Fair Value Assets, Gains (Losses) Included In Earnings [5] 0 0 0 0
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income 0 [5] 0 [5] 0 0 [5]
Fair Value Assets, Purchases 0 [5] 0 [5] 0 0 [5]
Fair Value Assets, Issuances 0 [5] 0 [5] 0 0 [5]
Fair Value Assets, Settlements 0 [5] 0 [5] (1,293) 0 [5]
Fair Value Assets, Transfers Into Level 3 0 [5] 0 [5] 0 0 [5]
Fair Value Assets, Transfers Out of Level 3 0 [5] 0 [5] 0 0 [5]
Fair Value Assets, Ending Balance [5] 510 1,803 510 1,803
Fair Value Assets, Current Period Unrealized Gains (Losses) 0 [5] 0 [5] 0 0 [5]
Available-for-sale securities [Member] | Other asset-backed securities available-for-sale [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value Assets, Beginning Balance [6] 109 107 107 111
Fair Value Assets, Gains (Losses) Included In Earnings [6] 0 0 0 0
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income 4 [6] 0 [1] 6 [6] (4) [6]
Fair Value Assets, Purchases [6] 0 0 0 0
Fair Value Assets, Issuances [6] 0 0 0 0
Fair Value Assets, Settlements [6] 0 0 0 0
Fair Value Assets, Transfers Into Level 3 [6] 0 0 0 0
Fair Value Assets, Transfers Out of Level 3 [6] 0 0 0 0
Fair Value Assets, Ending Balance [6] 113 107 113 107
Fair Value Assets, Current Period Unrealized Gains (Losses) [6] 4 0 6 (4)
Other assets [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value Assets, Beginning Balance [7] 1 15 4 15
Fair Value Assets, Gains (Losses) Included In Earnings [7] 0 (3) 0 (3)
Fair Value Assets, Gains (Losses) Included in Other Comprehensive Income [7] 0 0 0 0
Fair Value Assets, Purchases [7] 0 0 0 0
Fair Value Assets, Issuances [7] 0 0 0 0
Fair Value Assets, Settlements [7] 0 0 (3) 0
Fair Value Assets, Transfers Into Level 3 [7] 0 0 0 0
Fair Value Assets, Transfers Out of Level 3 [7] 0 0 0 0
Fair Value Assets, Ending Balance [7] 1 12 1 12
Fair Value Assets, Current Period Unrealized Gains (Losses) [7] $ 0 $ 0 $ 0 $ 0
[1] Level 3 net derivatives included derivative assets of $276 million and derivative liabilities of $194 million at June 30, 2019 and derivative assets of $253 million and derivative liabilities of $193 million at June 30, 2018. Gains (losses) on derivatives, net are predominantly included in trading revenue and gain (loss) on instruments designated at fair value and related derivatives in the consolidated statement of income.
[2] We are the client-facing entity and we enter into identical but opposite derivatives to transfer the resultant risks to our affiliates. With the exception of counterparty credit risks, we are market neutral. The corresponding intra-group derivatives are presented as equity derivatives and foreign exchange derivatives in the table.
[3] Excluding unrealized gains (losses) on fair value option liabilities attributable to our own credit spread, which are recorded in other comprehensive income (loss), gains (losses) on fair value option liabilities are included in gain (loss) on instruments designated at fair value and related derivatives in the consolidated statement of income.
[4] Structured deposits and structured notes contain embedded derivative features whose fair value measurements contain significant Level 3 inputs.
[5] Gains (losses) on trading assets, excluding derivatives are included in trading revenue in the consolidated statement of income.
[6] Realized gains (losses) on securities available-for-sale are included in other securities gains, net in the consolidated statement of income. Unrealized gains (losses) on securities available-for-sale are included in other comprehensive income (loss).
[7] Represents contingent consideration receivable associated with the sale of a portion of our PB business. Gains (losses) associated with this transaction are included in other income (loss) in the consolidated statement of income.