|3 Months Ended|
Mar. 31, 2013
|Investments, Debt and Equity Securities [Abstract]|
Investment securities on the Condensed Consolidated Balance Sheets include:
Investment securities reported on the Condensed Consolidated Balance Sheets at March 31, 2013 and December 31, 2012 are presented below.
(1) Certain assets that are used for liquidity management purposes were reclassified from Trading assets to Other debt securities carried at fair value during the three months ended March 31, 2013. Prior period amounts have also been reclassified to conform with the current period presentation.
For the three months ended March 31, 2013 and March 31, 2012, other-than-temporary impairment ("OTTI") losses related to non-agency mortgage-backed available-for-sale securities were $0 million and $2 million, respectively. Net impairment losses recognized in earnings represent the credit component of OTTI losses on available-for-sale debt securities and total OTTI losses for available-for-sale debt securities that Merrill Lynch does not intend to hold to recovery. Those amounts were $0 million and $2 million for the three months ended March 31, 2013 and March 31, 2012, respectively. See Note 1 for Merrill Lynch's accounting policy regarding OTTI of investment securities.
Information regarding investment securities subject to Investment Accounting follows.
There were no material gross unrealized gains or losses associated with available-for-sale securities as of March 31, 2013 or December 31, 2012. Additionally, there were no individual securities that had been in a continuous unrealized loss position for a year or more as of March 31, 2013 or December 31, 2012.
The amortized cost and fair value of available-for-sale debt securities by expected maturity for mortgage-backed securities and contractual maturity for other debt securities at March 31, 2013 are as follows:
The proceeds and gross realized gains (losses) from the sale of available-for-sale securities during the three months ended March 31, 2013 and March 31, 2012 are as follows:
Equity Method Investments
At March 31, 2013 and December 31, 2012, Merrill Lynch held certain investments that were accounted for under the equity method of accounting, none of which were individually material.
The entire disclosure for investments in certain debt and equity securities.
Reference 1: http://www.xbrl.org/2003/role/presentationRef