Bank of America Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Outstanding Loans and Leases

Outstanding Loans and Leases

3 Months Ended

Mar. 31, 2012

Loans and Leases Receivable Disclosure [Abstract]

NOTE 5 – Outstanding Loans and Leases

The following tables present total outstanding loans and leases and an aging analysis at March 31, 2012 and December 31, 2011.



	March 31, 2012
(Dollars in millions)	30-59 Days Past Due ⁽¹⁾			60-89 Days Past Due ⁽¹⁾			90 Days or More Past Due ⁽²⁾			Total Past Due 30 Days or More			Total Current or Less Than 30 Days Past Due ⁽³⁾			Purchased Credit - impaired ⁽⁴⁾			Loans Accounted for Under the Fair Value Option			Total Outstandings
Home loans
Core portfolio
Residential mortgage ⁽⁵⁾	$	1,894		$	646		$	3,162		$	5,702		$	169,620								$	175,322
Home equity	267			144			470			881			64,380									65,261
Legacy Assets & Servicing portfolio
Residential mortgage	2,779			1,678			30,708			35,165			36,196			$	9,748					81,109
Home equity	778			473			1,728			2,979			41,188			11,818						55,985
Discontinued real estate ⁽⁶⁾	50			18			320			388			784			9,281						10,453
Credit card and other consumer
U.S. credit card	848			670			1,866			3,384			93,049									96,433
Non-U.S. credit card	138			105			294			537			13,377									13,914
Direct/Indirect consumer ⁽⁷⁾	595			266			730			1,591			84,537									86,128
Other consumer ⁽⁸⁾	45			16			7			68			2,539									2,607
Total consumer loans	7,394			4,016			39,285			50,695			505,670			30,847						587,212
Consumer loans accounted for under the fair value option ⁽⁹⁾																			$	2,204		2,204
Total consumer	7,394			4,016			39,285			50,695			505,670			30,847			2,204			589,416
Commercial
U.S. commercial	327			40			2,106			2,473			178,255									180,728
Commercial real estate ⁽¹⁰⁾	104			31			3,412			3,547			34,502									38,049
Commercial lease financing	100			6			66			172			21,384									21,556
Non-U.S. commercial	—			—			140			140			52,461									52,601
U.S. small business commercial	151			103			312			566			12,390									12,956
Total commercial loans	682			180			6,036			6,898			298,992									305,890
Commercial loans accounted for under the fair value option ⁽⁹⁾																			6,988			6,988
Total commercial	682			180			6,036			6,898			298,992						6,988			312,878
Total loans and leases	$	8,076		$	4,196		$	45,321		$	57,593		$	804,662		$	30,847		$	9,192		$	902,294
Percentage of outstandings	0.90		%	0.46		%	5.02		%	6.38		%	89.18		%	3.42		%	1.02		%


⁽¹⁾	Home loans includes $2.9 billion of fully-insured loans and $1.1 billion of nonperforming loans.


⁽²⁾	Home loans includes $21.2 billion of fully-insured loans.


⁽³⁾	Home loans includes $3.7 billion of nonperforming loans as all principal and interest are not current or the loans are TDRs that have not demonstrated sustained repayment performance.


⁽⁴⁾	PCI loan amounts are shown gross of the valuation allowance.


⁽⁵⁾	Total outstandings includes non-U.S. residential mortgages of $87 million.


⁽⁶⁾	Total outstandings includes $9.3 billion of pay option loans and $1.1 billion of subprime loans. The Corporation no longer originates these products.


⁽⁷⁾	Total outstandings includes dealer financial services loans of $40.2 billion, consumer lending loans of $7.1 billion, U.S. securities-based lending margin loans of $24.0 billion, student loans of $5.7 billion, non-U.S. consumer loans of $7.6 billion and other consumer loans of $1.5 billion.


⁽⁸⁾	Total outstandings includes consumer finance loans of $1.6 billion, other non-U.S. consumer loans of $951 million and consumer overdrafts of $58 million.

⁽⁹⁾

Consumer loans accounted for under the fair value option were residential mortgage loans of $881 million and discontinued real estate loans of $1.3 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.2 billion and non-U.S. commercial loans of $4.8 billion. See Note 15 – Fair Value Measurements and Note 16 – Fair Value Option for additional information.


⁽¹⁰⁾	Total outstandings includes U.S. commercial real estate loans of $36.3 billion and non-U.S. commercial real estate loans of $1.7 billion.



	December 31, 2011
(Dollars in millions)	30-59 Days Past Due ⁽¹⁾			60-89 Days Past Due ⁽¹⁾			90 Days or More Past Due ⁽²⁾			Total Past Due 30 Days or More			Total Current or Less Than 30 Days Past Due ⁽³⁾			Purchased Credit - impaired ⁽⁴⁾			Loans Accounted for Under the Fair Value Option			Total Outstandings
Home loans
Core portfolio
Residential mortgage ⁽⁵⁾	$	2,151		$	751		$	3,017		$	5,919		$	172,418								$	178,337
Home equity	260			155			429			844			66,211									67,055
Legacy Assets & Servicing portfolio
Residential mortgage	3,195			2,174			32,167			37,536			36,451			$	9,966					83,953
Home equity	845			508			1,735			3,088			42,578			11,978						57,644
Discontinued real estate⁽⁶⁾	65			24			351			440			798			9,857						11,095
Credit card and other consumer
U.S. credit card	981			772			2,070			3,823			98,468									102,291
Non-U.S. credit card	148			120			342			610			13,808									14,418
Direct/Indirect consumer⁽⁷⁾	805			338			779			1,922			87,791									89,713
Other consumer ⁽⁸⁾	55			21			17			93			2,595									2,688
Total consumer loans	8,505			4,863			40,907			54,275			521,118			31,801						607,194
Consumer loans accounted for under the fair value option ⁽⁹⁾																			$	2,190		2,190
Total consumer	8,505			4,863			40,907			54,275			521,118			31,801			2,190			609,384
Commercial
U.S. commercial	272			83			2,249			2,604			177,344									179,948
Commercial real estate ⁽¹⁰⁾	133			44			3,887			4,064			35,532									39,596
Commercial lease financing	78			13			40			131			21,858									21,989
Non-U.S. commercial	24			—			143			167			55,251									55,418
U.S. small business commercial	142			100			331			573			12,678									13,251
Total commercial loans	649			240			6,650			7,539			302,663									310,202
Commercial loans accounted for under the fair value option ⁽⁹⁾																			6,614			6,614
Total commercial	649			240			6,650			7,539			302,663						6,614			316,816
Total loans and leases	$	9,154		$	5,103		$	47,557		$	61,814		$	823,781		$	31,801		$	8,804		$	926,200
Percentage of outstandings	0.99		%	0.55		%	5.13		%	6.67		%	88.95		%	3.43		%	0.95		%


⁽¹⁾	Home loans includes $3.6 billion of fully-insured loans and $770 million of nonperforming loans.


⁽²⁾	Home loans includes $21.2 billion of fully-insured loans.


⁽³⁾	Home loans includes $1.8 billion of nonperforming loans as all principal and interest are not current or the loans are TDRs that have not demonstrated sustained repayment performance.


⁽⁴⁾	PCI loan amounts are shown gross of the valuation allowance.


⁽⁵⁾	Total outstandings includes non-U.S. residential mortgages of $85 million.


⁽⁶⁾	Total outstandings includes $9.9 billion of pay option loans and $1.2 billion of subprime loans. The Corporation no longer originates these products.


⁽⁷⁾	Total outstandings includes dealer financial services loans of $43.0 billion, consumer lending loans of $8.0 billion, U.S. securities-based lending margin loans of $23.6 billion, student loans of $6.0 billion, non-U.S. consumer loans of $7.6 billion and other consumer loans of $1.5 billion.


⁽⁸⁾	Total outstandings includes consumer finance loans of $1.7 billion, other non-U.S. consumer loans of $929 million and consumer overdrafts of $103 million.

⁽⁹⁾

Consumer loans accounted for under the fair value option were residential mortgage loans of $906 million and discontinued real estate loans of $1.3 billion. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.2 billion and non-U.S. commercial loans of $4.4 billion. See Note 15 – Fair Value Measurements and Note 16 – Fair Value Option for additional information.


⁽¹⁰⁾	Total outstandings includes U.S. commercial real estate loans of $37.8 billion and non-U.S. commercial real estate loans of $1.8 billion.

The Corporation mitigates a portion of its credit risk on the residential mortgage portfolio through the use of synthetic securitization vehicles. These vehicles issue long-term notes to investors, the proceeds of which are held as cash collateral. The Corporation pays a premium to the vehicles to purchase mezzanine loss protection on a portfolio of residential mortgages owned by the Corporation. Cash held in the vehicles is used to reimburse the Corporation in the event that losses on the mortgage portfolio exceed 10 basis points (bps) of the original pool balance, up to the remaining amount of purchased loss protection of $697 million and $783 million at March 31, 2012 and December 31, 2011. The vehicles from which the Corporation purchases credit protection are VIEs. The Corporation does not have a variable interest in these vehicles, and accordingly, these vehicles are not consolidated by the Corporation. Amounts due from the vehicles are recorded in other income (loss) when the Corporation recognizes a reimbursable loss, as described above. Amounts are collected when reimbursable losses are realized through the sale of the underlying collateral. At March 31, 2012 and December 31, 2011, the Corporation had a receivable of $368 million and $359 million from these vehicles for reimbursement of losses, and principal of $22.3 billion and $23.9 billion of residential mortgage loans was referenced under these agreements. The Corporation records an allowance for credit losses on these loans without regard to the existence of the purchased loss protection as the protection does not represent a guarantee of individual loans.

In addition, the Corporation has entered into long-term credit protection agreements with FNMA and FHLMC on loans totaling $26.0 billion and $24.4 billion at March 31, 2012 and December 31, 2011, providing full protection on residential mortgage loans that become severely delinquent. All of these loans are individually insured and therefore the Corporation does not record an allowance for credit losses related to these loans. For additional information, see Note 8 – Representations and Warranties Obligations and Corporate Guarantees.

Nonperforming Loans and Leases

During the first quarter of 2012, the bank regulatory agencies jointly issued interagency supervisory guidance on nonaccrual status for junior-lien consumer real estate loans. In accordance with this regulatory interagency guidance, the Corporation classifies junior-lien home equity loans as nonperforming when the first-lien loan becomes 90 days past due even if the junior-lien loan is performing, and as a result, the Corporation reclassified $1.9 billion of performing home equity loans to nonperforming. The regulatory interagency guidance had no impact on the Corporation's allowance for loan and lease losses or provision expense as the delinquency status of the underlying first-lien was already considered in the Corporation's reserving process.

The table below presents the Corporation’s nonperforming loans and leases including nonperforming troubled debt restructurings (TDRs) and loans accruing past due 90 days or more at March 31, 2012 and December 31, 2011. Nonperforming loans held-for-sale (LHFS) are excluded from nonperforming loans and leases as they are recorded at either fair value or the lower of cost or fair value. See Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2011 Annual Report on Form 10-K for further information on the criteria for classification as nonperforming.



Credit Quality
	Nonperforming Loans and Leases ⁽¹⁾				Accruing Past Due 90 Days or More
(Dollars in millions)	March 31 2012		December 31 2011		March 31 2012		December 31 2011
Home loans
Core portfolio
Residential mortgage ⁽²⁾	$	2,433	$	2,414	$	1,113	$	883
Home equity	1,042		439		—		—
Legacy Assets & Servicing portfolio
Residential mortgage ⁽²⁾	12,616		13,556		20,063		20,281
Home equity	3,318		2,014		—		—
Discontinued real estate	269		290		—		—
Credit card and other consumer
U.S. credit card	n/a		n/a		1,866		2,070
Non-U.S. credit card	n/a		n/a		294		342
Direct/Indirect consumer	41		40		697		746
Other consumer	5		15		2		2
Total consumer	19,724		18,768		24,035		24,324
Commercial
U.S. commercial	2,048		2,174		59		75
Commercial real estate	3,404		3,880		8		7
Commercial lease financing	38		26		28		14
Non-U.S. commercial	140		143		—		—
U.S. small business commercial	121		114		190		216
Total commercial	5,751		6,337		285		312
Total consumer and commercial	$	25,475	$	25,105	$	24,320	$	24,636


⁽¹⁾	Nonperforming loan balances do not include nonaccruing TDRs removed from the PCI portfolio prior to January 1, 2010 of $459 million and $477 million as of March 31, 2012 and December 31, 2011.

⁽²⁾

Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At both March 31, 2012 and December 31, 2011, residential mortgage includes $17.0 billion of loans on which interest has been curtailed by the Federal Housing Administration, and therefore are no longer accruing interest, although principal is still insured, and $4.2 billion of loans on which interest is still accruing.

n/a = not applicable

Credit Quality Indicators

The Corporation monitors credit quality within its Home Loans, Credit Card and Other Consumer, and Commercial portfolio segments based on primary credit quality indicators. For more information on the portfolio segments, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2011 Annual Report on Form 10-K. Within the home loans portfolio segment, the primary credit quality indicators are refreshed LTV and refreshed FICO score. Refreshed LTV measures the carrying value of the loan as a percentage of the value of property securing the loan, refreshed quarterly. Home equity loans are evaluated using combined loan-to-value (CLTV) which measures the carrying value of the combined loans that have liens against the property and the available line of credit as a percentage of the appraised value of the property securing the loan, refreshed quarterly. FICO scores measure the creditworthiness of the borrower based on the financial obligations of the borrower and the borrower’s credit history. At a minimum, FICO scores are refreshed quarterly, and in many cases, more frequently. FICO scores are also a primary credit quality indicator for the Credit Card and Other Consumer portfolio segment and the business card portfolio within U.S. small business commercial. The Corporation’s commercial loans are evaluated using the internal classifications of pass rated or reservable criticized as the primary credit quality indicators. The term reservable criticized refers to those commercial loans that are internally classified or listed by the Corporation as Special Mention, Substandard or Doubtful, which are asset categories defined by regulatory authorities. These assets have an elevated level of risk and may have a high probability of default or total loss. Pass rated refers to all loans not considered reservable criticized. In addition to these primary credit quality indicators, the Corporation uses other credit quality indicators for certain types of loans.

The following tables present certain credit quality indicators for the Corporation’s Home Loans, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at March 31, 2012 and December 31, 2011.



Home Loans - Credit Quality Indicators ⁽¹⁾
	March 31, 2012
(Dollars in millions)	Core Portfolio Residential Mortgage ⁽²⁾		Legacy Assets & Servicing Residential Mortgage ⁽²⁾		Countrywide Residential Mortgage PCI		Core Portfolio Home Equity ⁽²⁾		Legacy Assets & Servicing Home Equity ⁽²⁾		Countrywide Home Equity PCI		Legacy Assets & Servicing Discontinued Real Estate ⁽²⁾		Countrywide Discontinued Real Estate PCI
Refreshed LTV ⁽³⁾
Less than 90 percent	$	78,614	$	19,638	$	3,768	$	44,861	$	16,508	$	2,509	$	836	$	5,609
Greater than 90 percent but less than 100 percent	10,882		5,500		1,407		6,826		4,725		1,111		122		992
Greater than 100 percent	16,120		21,891		4,573		13,574		22,934		8,198		214		2,680
Fully-insured loans ⁽⁴⁾	69,706		24,332		—		—		—		—		—		—
Total home loans	$	175,322	$	71,361	$	9,748	$	65,261	$	44,167	$	11,818	$	1,172	$	9,281

Refreshed FICO score ⁽⁵⁾
Less than 620	$	6,566	$	16,086	$	3,481	$	2,831	$	6,995	$	1,715	$	510	$	5,449
Greater than or equal to 620	99,050		30,943		6,267		62,430		37,172		10,103		662		3,832
Fully-insured loans ⁽⁴⁾	69,706		24,332		—		—		—		—		—		—
Total home loans	$	175,322	$	71,361	$	9,748	$	65,261	$	44,167	$	11,818	$	1,172	$	9,281


⁽¹⁾	Excludes $2.2 billion of loans accounted for under the fair value option.


⁽²⁾	Excludes Countrywide PCI loans.


⁽³⁾	Refreshed LTV percentages for PCI loans are calculated using the carrying value net of the related valuation allowance.


⁽⁴⁾	Credit quality indicators are not reported for fully-insured loans as principal repayment is insured.


⁽⁵⁾	As of March 31, 2012, refreshed home equity FICO metrics reflect an updated scoring model. Prior periods were adjusted to reflect these updates.



Credit Card and Other Consumer - Credit Quality Indicators
	March 31, 2012
(Dollars in millions)	U.S. Credit Card		Non-U.S. Credit Card		Direct/Indirect Consumer		Other Consumer ⁽¹⁾
Refreshed FICO score
Less than 620	$	7,399	$	—	$	2,910	$	768
Greater than or equal to 620	89,034		—		43,758		829
Other internal credit metrics ^{(2, 3, 4)}	—		13,914		39,460		1,010
Total credit card and other consumer	$	96,433	$	13,914	$	86,128	$	2,607


⁽¹⁾	98 percent of the other consumer portfolio was associated with portfolios from certain consumer finance businesses that the Corporation previously exited.


⁽²⁾	Other internal credit metrics include delinquency status, geography or other factors.


⁽³⁾	Direct/indirect consumer includes $31.6 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $5.7 billion of loans the Corporation no longer originates.


⁽⁴⁾	Non-U.S. credit card represents the U.K. credit card portfolio which is evaluated using internal credit metrics, including delinquency status. At March 31, 2012, 96 percent of this portfolio was current or less than 30 days past due, two percent was 30-89 days past due and two percent was 90 days past due or more.



Commercial - Credit Quality Indicators ⁽¹⁾
	March 31, 2012
(Dollars in millions)	U.S. Commercial		Commercial Real Estate		Commercial Lease Financing		Non-U.S. Commercial		U.S. Small Business Commercial ⁽²⁾
Risk ratings
Pass rated	$	171,179	$	28,752	$	20,371	$	51,080	$	2,266
Reservable criticized	9,549		9,297		1,185		1,521		723
Refreshed FICO score ⁽³⁾
Less than 620									515
Greater than or equal to 620									4,662
Other internal credit metrics ^{(3, 4)}									4,790
Total commercial credit	$	180,728	$	38,049	$	21,556	$	52,601	$	12,956


⁽¹⁾	Excludes $7.0 billion of loans accounted for under the fair value option.


⁽²⁾	U.S. small business commercial includes $463 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At March 31, 2012, 98 percent of the balances where internal credit metrics are used were current or less than 30 days past due.


⁽³⁾	Refreshed FICO score and other internal credit metrics are applicable only to the U.S. small business commercial portfolio.


⁽⁴⁾	Other internal credit metrics include delinquency status, application scores, geography or other factors.



Home Loans - Credit Quality Indicators ⁽¹⁾
	December 31, 2011
(Dollars in millions)	Core Portfolio Residential Mortgage ⁽²⁾		Legacy Assets & Servicing Residential Mortgage ⁽²⁾		Countrywide Residential Mortgage PCI		Core Portfolio Home Equity ⁽²⁾		Legacy Assets & Servicing Home Equity ⁽²⁾		Countrywide Home Equity PCI		Legacy Assets & Servicing Discontinued Real Estate ⁽²⁾		Countrywide Discontinued Real Estate PCI
Refreshed LTV ⁽³⁾
Less than 90 percent	$	80,032	$	20,450	$	3,821	$	46,646	$	17,354	$	2,253	$	895	$	5,953
Greater than 90 percent but less than 100 percent	11,838		5,847		1,468		6,988		4,995		1,077		122		1,191
Greater than 100 percent	17,673		22,630		4,677		13,421		23,317		8,648		221		2,713
Fully-insured loans ⁽⁴⁾	68,794		25,060		—		—		—		—		—		—
Total home loans	$	178,337	$	73,987	$	9,966	$	67,055	$	45,666	$	11,978	$	1,238	$	9,857

Refreshed FICO score ⁽⁵⁾
Less than 620	$	7,020	$	17,337	$	3,749	$	2,843	$	7,293	$	2,547	$	548	$	5,968
Greater than or equal to 620	102,523		31,590		6,217		64,212		38,373		9,431		690		3,889
Fully-insured loans ⁽⁴⁾	68,794		25,060		—		—		—		—		—		—
Total home loans	$	178,337	$	73,987	$	9,966	$	67,055	$	45,666	$	11,978	$	1,238	$	9,857


⁽¹⁾	Excludes $2.2 billion of loans accounted for under the fair value option.


⁽²⁾	Excludes Countrywide PCI loans.


⁽³⁾	Refreshed LTV percentages for PCI loans are calculated using the carrying value gross of the related valuation allowance.


⁽⁴⁾	Credit quality indicators are not reported for fully-insured loans as principal repayment is insured.


⁽⁵⁾	As of March 31, 2012, refreshed home equity FICO metrics reflect an updated scoring model. Prior periods were adjusted to reflect these updates.



Credit Card and Other Consumer - Credit Quality Indicators
	December 31, 2011
(Dollars in millions)	U.S. Credit Card		Non-U.S. Credit Card		Direct/Indirect Consumer		Other Consumer ⁽¹⁾
Refreshed FICO score
Less than 620	$	8,172	$	—	$	3,325	$	802
Greater than or equal to 620	94,119		—		46,981		854
Other internal credit metrics ^{(2, 3, 4)}	—		14,418		39,407		1,032
Total credit card and other consumer	$	102,291	$	14,418	$	89,713	$	2,688


⁽¹⁾	96 percent of the other consumer portfolio was associated with portfolios from certain consumer finance businesses that the Corporation previously exited.


⁽²⁾	Other internal credit metrics include delinquency status, geography or other factors.


⁽³⁾	Direct/indirect consumer includes $31.1 billion of securities-based lending which is overcollateralized and therefore has minimal credit risk and $6.0 billion of loans the Corporation no longer originates.


⁽⁴⁾	Non-U.S. credit card represents the U.K. credit card portfolio which is evaluated using internal credit metrics, including delinquency status. At December 31, 2011, 96 percent of this portfolio was current or less than 30 days past due, two percent was 30-89 days past due and two percent was 90 days or more past due.



Commercial - Credit Quality Indicators ⁽¹⁾
	December 31, 2011
(Dollars in millions)	U.S. Commercial		Commercial Real Estate		Commercial Lease Financing		Non-U.S. Commercial		U.S. Small Business Commercial ⁽²⁾
Risk ratings
Pass rated	$	169,599	$	28,602	$	20,850	$	53,945	$	2,392
Reservable criticized	10,349		10,994		1,139		1,473		836
Refreshed FICO score ⁽³⁾
Less than 620									562
Greater than or equal to 620									4,674
Other internal credit metrics ^{(3, 4)}									4,787
Total commercial credit	$	179,948	$	39,596	$	21,989	$	55,418	$	13,251


⁽¹⁾	Excludes $6.6 billion of loans accounted for under the fair value option.


⁽²⁾	U.S. small business commercial includes $491 million of criticized business card and small business loans which are evaluated using refreshed FICO scores or internal credit metrics, including delinquency status, rather than risk ratings. At December 31, 2011, 97 percent of the balances where internal credit metrics are used were current or less than 30 days past due.


⁽³⁾	Refreshed FICO score and other internal credit metrics are applicable only to the U.S. small business commercial portfolio.


⁽⁴⁾	Other internal credit metrics include delinquency status, application scores, geography or other factors.

Impaired Loans and Troubled Debt Restructurings

A loan is considered impaired when, based on current information, it is probable that the Corporation will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming commercial loans, all TDRs, and the renegotiated credit card and other consumer TDR portfolio (the renegotiated credit card and other consumer TDR portfolio, collectively referred to as the renegotiated TDR portfolio). Generally, loans that are designated as TDRs may be returned to accrual status after they have performed for an adequate period of time, typically six months. Loans that have been returned to accrual status may be removed from TDR status if they bore a market rate of interest at the time of modification. Impaired loans exclude nonperforming consumer loans and nonperforming commercial leases unless they are classified as TDRs. Loans accounted for under the fair value option are also excluded. Purchased credit-impaired (PCI) loans are excluded and reported separately on page 158.

Home Loans

Impaired home loans within the Home Loans portfolio segment consist entirely of TDRs. Excluding PCI loans, substantially all modifications of home loans meet the definition of TDRs when a binding offer is extended to a borrower. Modifications of home loans are done in accordance with the government's Making Home Affordable Program (modifications under government programs) or the Corporation's proprietary programs (modifications under proprietary programs). These modifications are considered to be TDRs if concessions have been granted to borrowers experiencing financial difficulties. Concessions may include reductions in interest rates, capitalization of past due amounts, principal and/or interest forbearance, payment extensions, principal and/or interest forgiveness, or combinations thereof.

Prior to permanently modifying a loan, the Corporation may enter into trial modifications with certain borrowers under both government and proprietary programs. Trial modifications generally represent a three- to four-month period during which the borrower makes monthly payments under the anticipated modified payment terms. Upon successful completion of the trial period, the Corporation and the borrower enter into a permanent modification. Binding trial modifications are classified as TDRs when the trial offer is made and continue to be classified as TDRs regardless of whether the borrower enters into a permanent modification.

In accordance with applicable accounting guidance, excluding PCI loans which are reported separately, home loans are not classified as impaired unless they have been designated as a TDR. Once such a loan has been designated as a TDR it is then individually assessed for impairment. Home loan TDRs are measured primarily based on the net present value of the estimated cash flows discounted at the loan’s original effective interest rate. If the carrying value of a TDR exceeds this amount, a specific allowance is recorded as a component of the allowance for loan and lease losses. Alternatively, home loan TDRs that are considered to be dependent solely on the collateral for repayment (e.g., due to the lack of income verification) are measured based on the estimated fair value of the collateral and a charge-off is recorded if the carrying value exceeds the fair value of the collateral. Home loans that reached 180 days past due prior to modification would have been charged off to their net realizable value before they were modified as TDRs in accordance with established policy. Therefore, the modification of home loans that are 180 or more days past due as TDRs does not have an impact on the allowance for credit losses nor are additional charge-offs required at the time of modification. Subsequent declines in the fair value of the collateral after a loan has reached 180 days past due are recorded as charge-offs. Fully-insured loans are protected against principal loss, and therefore, the Corporation does not record an allowance for credit losses on the outstanding principal balance, even after they have been modified in a TDR.

The net present value of the estimated cash flows is based on model-driven estimates of projected payments, prepayments, defaults and loss-given-default (LGD). Using statistical modeling methodologies, the Corporation estimates the probability that a loan will default prior to maturity based on the attributes of each loan. The factors that are most relevant to the probability of default are the refreshed LTV or in the case of a subordinated lien, refreshed CLTV, borrower credit score, months since origination (i.e., vintage) and geography. Each of these factors is further broken down by present collection status (whether the loan is current, delinquent, in default or in bankruptcy). Severity (or LGD) is estimated based on the refreshed LTV for the first mortgages or CLTV for subordinated liens. The estimates are based on the Corporation’s historical experience, but are adjusted to reflect an assessment of environmental factors that may not be reflected in the historical data, such as changes in real estate values, local and national economies, underwriting standards and the regulatory environment. The probability of default models also incorporate recent experience with modification programs, a loan’s default history prior to modification and the change in borrower payments post-modification.

At March 31, 2012 and December 31, 2011, remaining commitments to lend additional funds to debtors whose terms have been modified in a home loan TDR were immaterial. Home loan foreclosed properties totaled $1.8 billion and $2.0 billion at March 31, 2012 and December 31, 2011.

The table below presents impaired loans in the Corporation’s Home Loans portfolio segment at March 31, 2012 and December 31, 2011, and for the three months ended March 31, 2012 and 2011 and includes primarily loans managed by Legacy Assets & Servicing within Consumer Real Estate Services (CRES). Certain impaired home loans do not have a related allowance as the current valuation of these impaired loans exceeded the carrying value.



Impaired Loans - Home Loans
							Three Months Ended March 31
	March 31, 2012						2012				2011
(Dollars in millions)	Unpaid Principal Balance		Carrying Value		Related Allowance		Average Carrying Value		Interest Income Recognized ⁽¹⁾		Average Carrying Value		Interest Income Recognized ⁽¹⁾
With no recorded allowance
Residential mortgage	$	11,313	$	8,473	n/a		$	8,472	$	73	$	5,628	$	54
Home equity	1,801		485		n/a		506		9		484		5
Discontinued real estate	401		224		n/a		232		2		227		2
With an allowance recorded
Residential mortgage	$	12,436	$	11,200	$	1,279	$	11,021	$	98	$	7,751	$	71
Home equity	1,512		1,243		590		1,255		9		1,302		7
Discontinued real estate	207		152		29		153		2		170		2
Total
Residential mortgage	$	23,749	$	19,673	$	1,279	$	19,493	$	171	$	13,379	$	125
Home equity	3,313		1,728		590		1,761		18		1,786		12
Discontinued real estate	608		376		29		385		4		397		4

	December 31, 2011
With no recorded allowance
Residential mortgage	$	10,907	$	8,168	n/a
Home equity	1,747		479		n/a
Discontinued real estate	421		240		n/a
With an allowance recorded
Residential mortgage	$	12,296	$	11,119	$	1,295
Home equity	1,551		1,297		622
Discontinued real estate	213		159		29
Total
Residential mortgage	$	23,203	$	19,287	$	1,295
Home equity	3,298		1,776		622
Discontinued real estate	634		399		29


⁽¹⁾	Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the ultimate collectability of principal is not uncertain.

n/a = not applicable

The table below presents the March 31, 2012 and 2011 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of home loans that were modified in TDRs during the three months ended March 31, 2012 and 2011, along with net charge-offs that were recorded during the period in which the modification occurred. These TDRs are managed by Legacy Assets & Servicing within CRES.



Home Loans - TDRs Entered into During the Three Months Ended March 31, 2012
	March 31, 2012								Three Months Ended March 31, 2012
(Dollars in millions)	Unpaid Principal Balance		Carrying Value		Pre-Modification Interest Rate		Post-Modification Interest Rate		Net Charge-offs
Residential mortgage	$	1,310	$	1,163	5.73	%	4.80	%	$	48
Home equity	162		97		5.10		3.80		39
Discontinued real estate	9		6		7.06		6.84		1
Total	$	1,481	$	1,266	5.67		4.70		$	88

Home Loans - TDRs Entered into During the Three Months Ended March 31, 2011
	March 31, 2011								Three Months Ended March 31, 2011
Residential mortgage	$	3,403	$	3,022	6.05	%	4.93	%	$	39
Home equity	297		229		7.43		5.54		63
Discontinued real estate	21		14		7.78		5.46		2
Total	$	3,721	$	3,265	6.17		4.98		$	104

The table below presents the March 31, 2012 and 2011 carrying value for home loans which were modified in a TDR during the three months ended March 31, 2012 and 2011 by type of modification.



Home Loans - Modification Programs
	TDRs Entered into During the Three Months Ended March 31, 2012
(Dollars in millions)	Residential Mortgage		Home Equity		Discontinued Real Estate		Total Carrying Value
Modifications under government programs
Contractual interest rate reduction	$	37	$	29	$	—	$	66
Principal and/or interest forbearance	1		9		—		10
Other modifications ⁽¹⁾	15		—		—		15
Total modifications under government programs	53		38		—		91

Modifications under proprietary programs
Contractual interest rate reduction	366		14		—		380
Capitalization of past due amounts	10		—		—		10
Principal and/or interest forbearance	90		7		—		97
Other modifications ⁽¹⁾	52		2		1		55
Total modifications under proprietary programs	518		23		1		542
Trial modifications	592		36		5		633
Total modifications	$	1,163	$	97	$	6	$	1,266

	TDRs Entered into During the Three Months Ended March 31, 2011
Modifications under government programs
Contractual interest rate reduction	$	219	$	135	$	1	$	355
Principal and/or interest forbearance	33		15		1		49
Other modifications ⁽¹⁾	1		1		—		2
Total modifications under government programs	253		151		2		406

Modifications under proprietary programs
Contractual interest rate reduction	1,562		23		6		1,591
Capitalization of past due amounts	136		—		—		136
Principal and/or interest forbearance	206		17		1		224
Other modifications ⁽¹⁾	117		16		—		133
Total modifications under proprietary programs	2,021		56		7		2,084
Trial modifications	748		22		5		775
Total modifications	$	3,022	$	229	$	14	$	3,265


⁽¹⁾	Includes other modifications such as term or payment extensions and repayment plans.

The table below presents the carrying value of loans that entered into payment default during the three months ended March 31, 2012 and 2011 and that were modified in a TDR during the 12 months preceding payment default. A payment default for home loan TDRs is recognized when a borrower has missed three monthly payments (not necessarily consecutively) since modification. Payment default on trial modifications where the borrower has not yet met the terms of the agreement are included in the table below if the borrower is 90 days or more past due three months after the offer to modify is made.



Home Loans - TDRs Entering Payment Default That Were Modified During the Preceding Twelve Months
	Three Months Ended March 31, 2012
(Dollars in millions)	Residential Mortgage		Home Equity		Discontinued Real Estate		Total Carrying Value
Modifications under government programs	$	73	$	2	$	1	$	76
Modifications under proprietary programs	373		4		3		380
Trial modifications	113		4		1		118
Total modifications	$	559	$	10	$	5	$	574

	Three Months Ended March 31, 2011
Modifications under government programs	$	54	$	—	$	1	$	55
Modifications under proprietary programs	458		20		4		482
Trial modifications	3		—		—		3
Total modifications	$	515	$	20	$	5	$	540

Credit Card and Other Consumer

The Credit Card and Other Consumer portfolio segment includes impaired loans that have been modified as TDRs. The Corporation seeks to assist customers that are experiencing financial difficulty by modifying loans while ensuring compliance with federal laws and guidelines. Substantially all of the Corporation’s credit card and other consumer loan modifications involve reducing the interest rate on the account and placing the customer on a fixed payment plan not exceeding 60 months, all of which are considered TDRs. In all cases, the customer’s available line of credit is canceled. The Corporation makes loan modifications directly with borrowers for debt held only by the Corporation (internal programs). Additionally, the Corporation makes loan modifications for borrowers working with third-party renegotiation agencies that provide solutions to customers’ entire unsecured debt structures (external programs).

All credit card and other consumer loans not secured by real estate, including modified loans, remain on accrual status until the loan is either charged off or paid in full. The allowance for impaired credit card loans is based on the present value of projected cash flows discounted using the portfolio’s average contractual interest rate, excluding promotionally priced loans, in effect prior to restructuring. Prior to modification, credit card and other consumer loans are included in homogeneous pools which are collectively evaluated for impairment. For these portfolios, loss forecast models are utilized that consider a variety of factors including but not limited to historical loss experience, delinquencies, economic trends and credit scores.

The table below provides information on the Corporation's renegotiated TDR portfolio at March 31, 2012 and December 31, 2011, and for the three months ended March 31, 2012 and 2011. The renegotiated TDR portfolio is considered impaired and had a related allowance as shown below.



Impaired Loans - Credit Card and Other Consumer - Renegotiated TDRs
							Three Months Ended March 31
	March 31, 2012						2012				2011
(Dollars in millions)	Unpaid Principal Balance		Carrying Value⁽¹⁾		Related Allowance		Average Carrying Value		Interest Income Recognized ⁽²⁾		Average Carrying Value		Interest Income Recognized ⁽²⁾
With an allowance recorded
U.S. credit card	$	4,548	$	4,576	$	1,396	$	5,019	$	77	$	8,569	$	127
Non-U.S. credit card	546		553		345		572		2		795		2
Direct/Indirect consumer	1,044		1,049		372		1,146		16		1,839		24

	December 31, 2011
With an allowance recorded
U.S. credit card	$	5,272	$	5,305	$	1,570
Non-U.S. credit card	588		597		435
Direct/Indirect consumer	1,193		1,198		405


⁽¹⁾	Includes accrued interest and fees.


⁽²⁾	Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the ultimate collectability of principal is not uncertain.

The table below provides information on the Corporation's primary modification programs for the renegotiated TDR portfolio at March 31, 2012 and December 31, 2011.



Credit Card and Other Consumer - Renegotiated TDRs by Program Type
	Internal Programs				External Programs				Other				Total				Percent of Balances Current or Less Than 30 Days Past Due
(Dollars in millions)	March 31 2012		December 31 2011		March 31 2012		December 31 2011		March 31 2012		December 31 2011		March 31 2012		December 31 2011		March 31 2012		December 31 2011
U.S. credit card	$	3,211	$	3,788	$	1,300	$	1,436	$	65	$	81	$	4,576	$	5,305	79.71	%	78.97	%
Non-U.S. credit card	211		218		103		113		239		266		553		597		56.15		54.02
Direct/Indirect consumer	681		784		351		392		17		22		1,049		1,198		81.00		80.01
Total renegotiated TDR loans	$	4,103	$	4,790	$	1,754	$	1,941	$	321	$	369	$	6,178	$	7,100	77.82		77.05

At March 31, 2012 and December 31, 2011, the Corporation had a renegotiated TDR portfolio of $6.2 billion and $7.1 billion of which $4.8 billion was current or less than 30 days past due under the modified terms at March 31, 2012. The renegotiated TDR portfolio is excluded from nonperforming loans as the Corporation generally does not classify consumer loans not secured by real estate as nonperforming. Instead, these loans are charged off no later than the end of the month in which the loan becomes 180 days past due.

The table below provides information on the Corporation’s renegotiated TDR portfolio including the unpaid principal balance and carrying value of loans that were modified in TDRs during the three months ended March 31, 2012 and 2011, along with charge-offs that were recorded during the calendar quarter in which the modification occurred. The table also presents the average pre- and post-modification interest rate.



Credit Card and Other Consumer - Renegotiated TDRs Entered into During the Three Months Ended March 31, 2012
	March 31, 2012								Three Months Ended March 31, 2012
(Dollars in millions)	Unpaid Principal Balance		Carrying Value ⁽¹⁾		Pre-Modification Interest Rate		Post-Modification Interest Rate		Net Charge-offs
U.S. credit card	$	152	$	156	18.29	%	6.35	%	$	2
Non-U.S. credit card	114		120		26.19		0.81		5
Direct/Indirect consumer	25		26		15.50		4.31		—
Total	$	291	$	302	21.19		3.97		$	7

Credit Card and Other Consumer - Renegotiated TDRs Entered into During the Three Months Ended March 31, 2011
	March 31, 2011								Three Months Ended March 31, 2011
U.S. credit card	$	386	$	400	19.33	%	6.15	%	$	4
Non-U.S. credit card	159		166		27.21		0.55		13
Direct/Indirect consumer	99		101		15.68		5.57		1
Total	$	644	$	667	20.73		4.67		$	18


⁽¹⁾	Includes accrued interest and fees.

The table below provides information on the Corporation's primary modification programs for the renegotiated TDR portfolio for loans that were modified in TDRs during the three months ended March 31, 2012 and 2011.



Credit Card and Other Consumer - Renegotiated TDRs by Program Type
	Renegotiated TDRs Entered into During the Three Months Ended March 31, 2012
(Dollars in millions)	Internal Programs		External Programs		Other		Total
U.S. credit card	$	79	$	77	$	—	$	156
Non-U.S. credit card	63		57		—		120
Direct/Indirect consumer	14		12		—		26
Total renegotiated TDR loans	$	156	$	146	$	—	$	302

	Renegotiated TDRs Entered into During the Three Months Ended March 31, 2011
U.S. credit card	$	234	$	165	$	1	$	400
Non-U.S. credit card	75		90		1		166
Direct/Indirect consumer	60		41		—		101
Total renegotiated TDR loans	$	369	$	296	$	2	$	667

Credit card and other consumer loans are deemed to be in payment default during the quarter in which a borrower misses the second of two consecutive payments. Payment defaults are one of the factors considered when projecting future cash flows in the calculation of the allowance for loan losses for impaired credit card and other consumer loans. Loans that entered into payment default during the three months ended March 31, 2012 and 2011 and that had been modified in a TDR during the 12 months preceding payment default were $82 million and $383 million for U.S. credit card, $82 million and $101 million for non-U.S. credit card and $16 million and $77 million for direct/indirect consumer.

Commercial Loans

Impaired commercial loans, which include nonperforming loans and TDRs (both performing and nonperforming) are primarily measured based on the present value of payments expected to be received, discounted at the loan's original effective interest rate. Commercial impaired loans may also be measured based on observable market prices or, for loans that are solely dependent on the collateral for repayment, the estimated fair value of collateral less estimated costs to sell. If the carrying value of a loan exceeds this amount, a specific allowance is recorded as a component of the allowance for loan and lease losses.

Modifications of loans to commercial borrowers that are experiencing financial difficulty are designed to reduce the Corporation's loss exposure while providing the borrower with an opportunity to work through financial difficulties, often to avoid foreclosure or bankruptcy. Each modification is unique and reflects the individual circumstances of the borrower. Modifications that result in a TDR may include extensions of maturity at a concessionary (below market) rate of interest, payment forbearances or other actions designed to benefit the customer while mitigating the Corporation's risk exposure. Reductions in interest rates are rare. Instead, the interest rates are typically increased, although the increased rate may not represent a market rate of interest. Infrequently, concessions may also include principal forgiveness in connection with foreclosure, short sale or other settlement agreements leading to termination or sale of the loan.

At the time of restructuring, the loans are remeasured to reflect the impact, if any, on projected cash flows resulting from the modified terms. If there was no forgiveness of principal and the interest rate was not decreased, the modification may have little or no impact on the allowance established for the loan. If a portion of the loan is deemed to be uncollectible, a charge-off may be recorded at the time of restructuring. Alternatively, a charge-off may have already been recorded in a previous period such that no charge-off is required at the time of modification. For information concerning modifications for the U.S. small business commercial portfolio, see Credit Card and Other Consumer in this Note.

At March 31, 2012 and December 31, 2011, remaining commitments to lend additional funds to debtors whose terms have been modified in a commercial loan TDR were immaterial. Commercial foreclosed properties totaled $510 million and $612 million at March 31, 2012 and December 31, 2011.

The table below presents impaired loans in the Corporation's Commercial loan portfolio segment at March 31, 2012 and December 31, 2011, and for the three months ended March 31, 2012 and 2011. Certain impaired commercial loans do not have a related allowance as the valuation of these impaired loans exceeded the carrying value, which is net of previously recorded charge-offs.



Impaired Loans - Commercial
							Three Months Ended March 31
	March 31, 2012						2012				2011
(Dollars in millions)	Unpaid Principal Balance		Carrying Value		Related Allowance		Average Carrying Value		Interest Income Recognized⁽¹⁾		Average Carrying Value		Interest Income Recognized ⁽¹⁾
With no recorded allowance
U.S. commercial	$	1,363	$	1,085	n/a		$	1,035	$	8	$	406	$	—
Commercial real estate	2,097		1,851		n/a		1,973		4		1,785		1
Non-U.S. commercial	237		127		n/a		114		—		70		—
U.S. small business commercial ⁽²⁾	—		—		n/a		—		—		—		—
With an allowance recorded
U.S. commercial	$	2,616	$	1,878	$	205	$	1,920	$	11	$	2,953	$	1
Commercial real estate	3,207		2,125		118		2,256		6		3,940		2
Non-U.S. commercial	272		29		8		45		—		153		—
U.S. small business commercial ⁽²⁾	480		457		134		472		4		817		7
Total
U.S. commercial	$	3,979	$	2,963	$	205	$	2,955	$	19	$	3,359	$	1
Commercial real estate	5,304		3,976		118		4,229		10		5,725		3
Non-U.S. commercial	509		156		8		159		—		223		—
U.S. small business commercial ⁽²⁾	480		457		134		472		4		817		7

	December 31, 2011
With no recorded allowance
U.S. commercial	$	1,482	$	985	n/a
Commercial real estate	2,587		2,095		n/a
Non-U.S. commercial	216		101		n/a
U.S. small business commercial ⁽²⁾	—		—		n/a
With an allowance recorded
U.S. commercial	$	2,654	$	1,987	$	232
Commercial real estate	3,329		2,384		135
Non-U.S. commercial	308		58		6
U.S. small business commercial ⁽²⁾	531		503		172
Total
U.S. commercial	$	4,136	$	2,972	$	232
Commercial real estate	5,916		4,479		135
Non-U.S. commercial	524		159		6
U.S. small business commercial ⁽²⁾	531		503		172


⁽¹⁾	Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for which the ultimate collectability of principal is not uncertain.


⁽²⁾	Includes U.S. small business commercial renegotiated TDR loans and related allowance.

n/a = not applicable

The table below presents the March 31, 2012 and 2011 unpaid principal balance and carrying value of commercial loans that were modified as TDRs during the three months ended March 31, 2012 and 2011, along with charge-offs that were recorded during the calendar quarter in which the modification occurred.



Commercial - TDRs Entered into During the Three Months Ended March 31, 2012
	March 31, 2012				Three Months Ended March 31, 2012
(Dollars in millions)	Unpaid Principal Balance		Carrying Value		Net Charge-offs
U.S commercial	$	356	$	344	$	—
Commercial real estate	339		252		4
Non-U.S. commercial	—		—		—
U.S. small business commercial ⁽¹⁾	10		10		—
Total	$	705	$	606	$	4

Commercial - TDRs Entered into During the Three Months Ended March 31, 2011
	March 31, 2011				Three Months Ended March 31, 2011
U.S commercial	$	461	$	425	$	10
Commercial real estate	597		512		34
Non-U.S. commercial	11		11		—
U.S. small business commercial ⁽¹⁾	22		28		—
Total	$	1,091	$	976	$	44


⁽¹⁾	U.S. small business commercial TDRs are comprised of renegotiated small business card loans.

A commercial TDR is generally deemed to be in payment default when the loan is 90 days or more past due, including delinquencies that were not resolved as part of the modification. U.S. small business commercial TDRs are deemed to be in payment default during the quarter in which a borrower misses the second of two consecutive payments. Payment defaults are one of the factors considered when projecting future cash flows, along with observable market prices or fair value of collateral, when measuring the allowance for loan losses. TDRs that were in payment default at March 31, 2012 and 2011 had a carrying value of $173 million and $51 million for U.S. commercial, $457 million and $286 million for commercial real estate and $8 million and $22 million for U.S. small business commercial.

Purchased Credit-impaired Loans

The table below shows activity for the accretable yield on Countrywide Financial Corporation (Countrywide) consumer PCI loans. The $182 million reclassification from nonaccretable difference for the three months ended March 31, 2012 is primarily due to an increase in the expected life of the PCI loans. The reclassification did not increase the annual yield but, as a result of estimated slower prepayment speeds, added additional interest periods to the expected cash flows.



Rollforward of Accretable Yield
(Dollars in millions)
Accretable yield, January 1, 2011	$	5,481
Accretion	(1,285		)
Disposals/transfers	(118		)
Reclassifications from nonaccretable difference	912
Accretable yield, December 31, 2011	4,990
Accretion	(276		)
Disposals/transfers	(24		)
Reclassifications from nonaccretable difference	182
Accretable yield, March 31, 2012	$	4,872

See Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2011 Annual Report on Form 10-K for further information on PCI loans and Note 6 – Allowance for Credit Losses for the carrying value and valuation allowance for Countrywide PCI loans.

Loans Held-for-sale

The Corporation had LHFS of $13.0 billion and $13.8 billion at March 31, 2012 and December 31, 2011. Proceeds from sales, securitizations and paydowns of LHFS were $10.0 billion and $59.7 billion for the three months ended March 31, 2012 and 2011. Amounts used for originations and purchases of LHFS were $10.5 billion and $48.5 billion for the three months ended March 31, 2012 and 2011.

- Definition

The entire disclosure for claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables.

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-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3,4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph k

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5074-111524

+ Details