Employee Benefit Plans (Tables)

v2.4.0.6

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2012
Pension and Other Postretirement Benefit Expense [Abstract]
Schedule of Defined Benefit Plans Disclosures	The following table provides a summary of the changes in the fair value of plan assets, projected benefit obligation and funded status for the years ended December 31, 2012 and December 31, 2011, and amounts recognized in the Consolidated Balance Sheets at December 31, 2012 and 2011 for Merrill Lynch's U.S. and non-U.S. defined benefit pension and postretirement benefit plans. (dollars in millions)   U.S. Defined Benefit Pension Plans   Non-U.S. Defined Benefit Pension Plans(1)   Total Defined Benefit Pension Plans   Postretirement Plans(2)   2012   2011   2012   2011   2012   2011   2012   2011 Change in fair value of plan assets                               Fair value, January 1 $ 3,059   $ 2,687   $ 1,768   $ 1,472   $ 4,827   $ 4,159   $ —   $ — Actual return on plan assets 126   493   94   264   220   757   —   — Contributions 1   1   127   89   128   90   17   11 Benefits paid (125 )   (122 )   (64 )   (52 )   (189 )   (174 )   (17 )   (11 ) Plan transfers(3) —   —   —   10   —   10   —   — Foreign currency exchange rate changes —   —   78   (15 )   78   (15 )   —   — Fair value, December 31 3,061   3,059   2,003   1,768   5,064   4,827   —   — Change in projected benefit obligation                             Projected benefit obligation, January 1 1,970   1,885   1,672   1,624   3,642   3,509   312   315 Service cost —   —   38   40   38   40   4   4 Interest cost 90   96   82   84   172   180   14   15 Plan participant contributions —   —   3   3   3   3   —   — Plan amendments —   —   2   2   2   2   —   (21 ) Actuarial loss (gain) 225   111   267   (36 )   492   75   (24 )   10 Benefits paid (125 )   (122 )   (64 )   (52 )   (189 )   (174 )   (17 )   (11 ) Plan transfers(3) —   —   —   15   —   15   —   — Foreign currency exchange rate changes —   —   69   (8 )   69   (8 )   1   — Projected benefit obligation, December 31 2,160   1,970   2,069   1,672   4,229   3,642   290   312 Amount recognized, December 31 $ 901   $ 1,089   $ (66 )   $ 96   $ 835   $ 1,185   $ (290 )   $ (312 ) Funded status, December 31 $ 901   $ 1,089   $ (66 )   $ 96   $ 835   $ 1,185   $ (290 )   $ (312 ) Weighted average assumptions, December 31                           Discount rate 3.8 %   4.7 %   4.2 %   4.8 %           3.7 %   4.7 % Rate of compensation increase N/A   N/A   4.4   4.5           N/A   N/A Healthcare cost trend rates:(4)                           Initial N/A   N/A   N/A   N/A           7.5   8.0 Long-term N/A   N/A   N/A   N/A           5.0   5.0 (1)  Primarily represents the U.K. pension plan, which accounts for 83% of the fair value of plan assets and 70% of the benefit obligation at December 31, 2012. (2)  Approximately 92% of the postretirement benefit obligation at December 31, 2012 relates to the U.S. postretirement plan. (3)  Plan transfers resulted from employee transfers to and from Merrill Lynch and non-Merrill Lynch subsidiaries of Bank of America. (4)  The healthcare cost trend rate is assumed to decrease gradually through 2019 and remain constant thereafter. N/A Not applicable
Schedule of Amounts Recognized in Balance Sheet	Amounts recognized in the Consolidated Balance Sheets at December 31, 2012 and 2011, were as follows: (dollars in millions)                               U.S. Defined Benefit Pension Plans   Non-U.S. Defined Benefit Pension Plans   Total Defined Benefit Pension Plans   Postretirement Plans   2012   2011   2012   2011   2012   2011   2012   2011 Other assets $ 908   $ 1,096   $ 202   $ 318   $ 1,110   $ 1,414   $ —   $ — Accrued expenses and other liabilities (7 )   (7 )   (268 )   (222 )   (275 )   (229 )   (290 )   (312 ) Net amount recognized at December 31 $ 901   $ 1,089   $ (66 )   $ 96   $ 835   $ 1,185   $ (290 )   $ (312 )
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets	The projected benefit obligation (“PBO”), ABO, and fair value of plan assets for pension plans with ABO and PBO in excess of plan assets as of December 31, 2012 and 2011 are presented in the table below. These plans primarily represent U.S. supplemental plans not subject to ERISA or non-U.S. plans where funding strategies vary due to legal requirements and local practices. (dollars in millions)   U.S. Defined Benefit Pension Plans   Non-U.S. Defined Benefit Pension Plans   Total Defined Benefit Pension Plans   2012   2011   2012   2011   2012   2011 Plans with ABO in excess of plan assets                       PBO $ 7   $ 7   $ 605   $ 512   $ 612   $ 519 ABO 7   7   570   482   577   489 Fair value of plan assets —   —   337   289   337   289 Plans with PBO in excess of plan assets                       PBO $ 7   $ 7   $ 618   $ 512   $ 625   $ 519 Fair value of plan assets —   —   350   289   350   289
Schedule of Accumulated Other Comprehensive Income (Loss)	The balances at December 31, 2012 and December 31, 2011 are as follows: (dollars in millions)   December 31, 2012     December 31, 2011 Foreign currency translation adjustment         Unrealized losses, net of gains $ (770 )     $ (744 ) Income taxes 814     765 Total 44     21 Unrealized losses on investment securities available-for-sale         Net unrealized losses —     — Income taxes (3 )     (33 ) Total (3 )     (33 ) Deferred losses on cash flow hedges         Deferred losses (1 )     (1 ) Income taxes —     — Total (1 )     (1 ) Defined benefit pension and postretirement plans         Net actuarial losses (899 )     (362 ) Net prior service cost (32 )     (35 ) Income taxes 364     175 Total (567 )     (222 ) Total accumulated other comprehensive loss $ (527 )     $ (235 )           Amounts recognized in accumulated other comprehensive loss, pre-tax, at December 31, 2012 consisted of: (dollars in millions)   U.S. Defined Benefit Pension Plans   Non-U.S. Defined Benefit Pension Plans   Total Defined Benefit Pension Plans   Postretirement Plans Actuarial loss (gain) $ 804   $ 105   $ 909   $ (10 ) Prior service cost —   4   4   28 Total $ 804   $ 109   $ 913   $ 18
Schedule of Net Benefit Costs	Total pension plan net periodic benefit (income) cost for the years ended December 31, 2012, 2011 and 2010 included the following components: (dollars in millions)       U.S. Pension   Non-U.S. Pension   Total Pension   Plans   Plans   Plans   2012   2011   2010   2012   2011   2010   2012   2011   2010 Components of net periodic benefit (income) cost                                   Service cost(1) $ —   $ —   $ —   $ 38   $ 40   $ 30   $ 38   $ 40   $ 30 Interest cost 90   96   101   82   84   79   172   180   180 Expected return on plan assets (152 )   (141 )   (138 )   (124 )   (104 )   (88 )   (276 )   (245 )   (226 ) Amortization of losses, prior service costs and other 2   5   5   (9 )   —   —   (7 )   5   5 Net periodic benefit (income) cost $ (60 )   $ (40 )   $ (32 )   $ (13 )   $ 20   $ 21   $ (73 )   $ (20 )   $ (11 ) Weighted average assumptions used to determine net cost for years ended December 31                                   Discount rate 4.7 %   5.3 %   5.8 %   4.8 %   5.3 %   5.4 %             Expected return on plan assets 5.3   5.3   5.3   6.8   6.8   6.8             Rate of compensation increase N/A   N/A   N/A   4.5   4.9   4.7             (1)  The U.S. plan was terminated in 1988 and thus does not incur service costs. N/A Not applicable Total postretirement plan net periodic benefit cost for the years ended December 31, 2012, 2011 and 2010 included the following components: (dollars in millions)   Postretirement   Plans   2012   2011   2010 Components of net periodic benefit cost           Service cost $ 4   $ 4   $ 3 Interest cost 14   15   17 Amortization of losses, prior service           costs and other 7   8   10 Net periodic benefit cost $ 25   $ 27   $ 30 Weighted average assumptions used to determine net cost for years ended December 31           Discount rate 4.7 %   5.2 %   5.8 % Healthcare cost trend rates:           Initial 7.5   7.6   8.1 Long-term 5.0   5.0   5.0
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates	A one percent change in the assumed healthcare cost trend rate would have the following effects on the amounts reported for the postretirement plans: (dollars in millions)   1% Increase   1% Decrease   2012   2011   2012   2011 Effect on:               Other postretirement benefits cost $ 2   $ 2   $ (2 )   $ (2 ) Accumulated benefit obligation 31   29   (26 )   (25 )
Schedule of Allocation of Plan Assets	The pension plan target allocations for 2013 by asset category are shown below. The Merrill Lynch postretirement benefit plans are not funded and do not hold assets for investment.   Defined Benefit Pension Plans   U.S. Plan   Non-U.S. Plans   2013 Target Allocation Debt securities 100 %   20-65% Equity securities —   10-60% Real estate —   0-15% Other(1) —   5-40% (1)  Other consists primarily of alternative investments, private equity investments, swaps and real property.
Plan Investment Assets Measured At Fair Value By Level	Plan assets measured at fair value by level and in total at December 31, 2012 and 2011 are summarized in the tables below: (dollars in millions)   December 31, 2012   Fair Value Measurements       Level 1   Level 2   Level 3   Total Cash and short-term investments               Money market and interest bearing cash $ 482   $ —   $ —   $ 482 Fixed Income               U.S. Government and government agency obligations 164   2,018   13   2,195 Corporate debt securities —   136   —   136 Asset-backed securities —   667   —   667 Non-U.S. debt securities 32   214   —   246 Fixed income commingled/mutual funds 52   118   —   170 Equity               Common and preferred equity securities 147   —   —   147 Equity commingled/mutual funds 31   201   —   232 Real estate commingled/mutual funds —   10   126   136 Limited partnerships —   5   175   180 Other investments(1) 1   472   —   473 Total plan investment assets, at fair value $ 909   $ 3,841   $ 314   $ 5,064                 (1)  Other investments includes swaps of $311 million, commodity and balanced funds of $158 million, and various other investments of $4 million. (dollars in millions)   December 31, 2011   Fair Value Measurements       Level 1   Level 2   Level 3   Total Cash and short-term investments               Money market and interest bearing cash $ 190   $ —   $ —   $ 190 Fixed Income               U.S. Government and government agency obligations 432   2,085   13   2,530 Corporate debt securities —   132   —   132 Asset-backed securities —   399   —   399 Non-U.S. debt securities 20   153   —   173 Fixed income commingled/mutual funds 46   104   —   150 Equity               Common and preferred equity securities 84   —   —   84 Equity commingled/mutual funds 28   327   —   355 Real estate commingled/mutual funds —   11   69   80 Limited partnerships —   5   176   181 Other investments(1) —   553   —   553 Total plan investment assets, at fair value $ 800   $ 3,769   $ 258   $ 4,827                 (1)  Other investments includes swaps of $465 million and commodity and balanced funds of $88 million.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The tables below presents a reconciliation of all plan assets measured at fair value using significant unobservable inputs (Level 3) during the years ended December 31, 2012, 2011 and 2010. (dollars in millions) Year Ended December 31, 2012   Balance January 1, 2012   Actual Return on Plan Assets Still Held at the Reporting Date   Purchases   Sales and Settlements   Transfers Into/(Out of) Level 3   Balance December 31, 2012 U.S. Government and government agency securities $ 13   $ —   $ —   $ —   $ —   $ 13 Real estate commingled/mutual funds 69   1   56   —   —   126 Limited partnerships 176   4   10   (15 )   —   175 Totals $ 258   $ 5   $ 66   $ (15 )   $ —   $ 314                         (dollars in millions) Year Ended December 31, 2011   Balance January 1, 2011   Actual Return on Plan Assets Still Held at the Reporting Date   Purchases   Sales and Settlements   Transfers Into/(Out of) Level 3   Balance December 31, 2011 U.S. Government and government agency securities $ 14   $ (1 )   $ —   $ —   $ —   $ 13 Real estate commingled/mutual funds 65   1   4   (1 )   —   69 Limited partnerships 175   (7 )   13   (5 )   —   176 Totals $ 254   $ (7 )   $ 17   $ (6 )   $ —   $ 258                                                 (dollars in millions) Year Ended December 31, 2010   Balance January 1, 2010   Actual Return on Plan Assets Still Held at the Reporting Date   Purchases   Sales and Settlements   Transfers Into/(Out of) Level 3   Balance December 31, 2010 U.S. Government and government agency securities $ —   $ —   $ —   $ —   $ 14   $ 14 Real estate commingled/mutual funds 45   (5 )   25   —   —   65 Limited partnerships 111   10   2   —   52   175 Other investments 110   —   —   —   (110 )   — Totals $ 266   $ 5   $ 27   $ —   $ (44 )   $ 254
Schedule of Expected Benefit Payments	Expected benefit payments associated with Merrill Lynch’s defined benefit pension and postretirement plans for the next five years and in the aggregate for the five years thereafter are as follows: (dollars in millions)   Defined Benefit Pension Plans   Postretirement Plans(3)   U.S.(1)   Non-U.S.(2)   Total   Gross Payments   Medicare Subsidy   Net Payments 2013 $ 132   $ 50   $ 182   $ 22   $ (3 )   $ 19 2014 141   53   194   23   (3 )   20 2015 143   54   197   23   (3 )   20 2016 145   58   203   24   (4 )   20 2017 146   61   207   24   (4 )   20 2018 through 2022 726   376   1,102   117   (17 )   100 (1)  The U.S. defined benefit pension plan payments are primarily funded under the terminated plan annuity contract. (2)  The U.K., Swiss and Japan pension plans payments represent approximately 47%, 15% and 22%, respectively, of the non-U.S. 2013 expected defined benefit pension payments. (3)  The U.S. postretirement plan payments, net of Medicare subsidy, represent approximately 95% of the total 2013 expected postretirement benefit payments.