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Subsequent Events
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9 Months Ended | ||||||
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Sep. 30, 2012
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| Subsequent Events [Abstract] | |||||||
| Subsequent Events [Text Block] |
On November 1, 2012, in connection with an intragroup reorganization involving Bank of America and a number of its subsidiaries, Merrill Lynch acquired two affiliated companies and their respective subsidiaries from Bank of America. The acquisition was financed through a capital contribution from Bank of America. In accordance with ASC 805, Business Combinations, Merrill Lynch's consolidated financial statements in periods subsequent to the acquisition will include the historical results of the acquired entities as if the transaction had occurred on January 1, 2009, the date on which all the entities were first under the common control of Bank of America. The assets and liabilities acquired in connection with the transaction will be recorded at their historical carrying values.
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- Details
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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