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Fair Values (Tables) | 6 Months Ended
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Jun. 30, 2011
Fair Values (Tables) [Abstract] |
Fair value assets and liabilities measured on recurring basis | The following table summarizes the Company's financial assets and financial liabilities measured at fair value on a recurring basis, categorized by GAAP's valuation hierarchy (as described in the preceding paragraphs), as of June 30, 2011 and December 31, 2010:
|  |  |  |  | 2011 |  | 2010
(Millions) |  | Total |  | Level 1 |  | Level 2 |  | Total |  | Level 1 |  | Level 2
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities:(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Equity securities |  | $ | 484 |  | $ | 484 |  | $ | ― |  | $ | 475 |  | $ | 475 |  | $ | ―
| Debt securities and other |  |  | 8,945 |  |  | ― |  |  | 8,945 |  |  | 13,535 |  |  | ― |  |  | 13,535
Derivatives(b) |  |  | 1,071 |  |  | ― |  |  | 1,071 |  |  | 1,089 |  |  | ― |  |  | 1,089
Total assets |  | $ | 10,500 |  | $ | 484 |  | $ | 10,016 |  | $ | 15,099 |  | $ | 475 |  | $ | 14,624
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives(b) |  | $ | 204 |  | $ | ― |  | $ | 204 |  | $ | 419 |  | $ | ― |  | $ | 419
Total liabilities |  | $ | 204 |  | $ | ― |  | $ | 204 |  | $ | 419 |  | $ | ― |  | $ | 419
(a) Refer to Note 6 for the fair values of investment securities on a further disaggregated basis. (b) Refer to Note 9 for the fair values of derivative assets and liabilities on a further disaggregated basis and the netting of derivative assets and derivative liabilities when a legally enforceable master netting agreement exists between the Company and its derivative counterparty. These balances have been presented gross in the table above.
Estimated fair value of financial assets and financial liabilities | The following table discloses the estimated fair value for the Company's financial assets and financial liabilities that are not carried at fair value, as of June 30, 2011 and December 31, 2010:
|  |  |  |  | 2011 |  | 2010 |
|  |  |  |  | Carrying |  | Fair |  | Carrying |  | Fair |
(Billions) |  | Value | Value |  | Value | Value |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
| Assets for which carrying values equal or |  |  |  |  |  |  |  |  |  |  |  |  |
|  | approximate fair value |  | $ | 68 |  | $ | 68 | (a) | $ | 61 |  | $ | 61 | (b)
| Loans, net |  | $ | 57 |  | $ | 57 | (a) | $ | 58 |  | $ | 58 | (b)
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
| Liabilities for which carrying values equal or |  |  |  |  |  |  |  |  |  |  |  |  |
|  | approximate fair value |  | $ | 48 |  | $ | 48 |  | $ | 43 |  | $ | 43 |
| Certificates of deposit |  | $ | 10 |  | $ | 10 |  | $ | 13 |  | $ | 13 |
| Long-term debt |  | $ | 61 |  | $ | 64 | (a) | $ | 66 |  | $ | 69 | (b)
(a) Includes fair values of cardmember recei vables and loans of $7.4 billion and $31.2 billion, respectively, available to settle obligations of consolidated variable interest entities (VIE) and long-term debt of $18.4 billion issued by consolidated VIEs as of June 30, 2011. Refer to the Consolidated Balance Sheets for the related carrying values. (b) Includes fair values of cardmember recei vables and loans of $8.1 billion and $33.2 billion, respectively, availabl e to settle obligations of consolidated VIEs and long-term debt of $23.6 billion issued by consolidated VIEs as of December 31, 2010. Refer to the Consolidated Balance Sheets f or the related carrying values.

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- Definition This item represents certain of the disclosures concerning the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph a, c(1), c(2), c(3), d Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph c(2), d, e, f Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 19 -Subparagraph a, b, c(1), d(1) Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 14 -Subparagraph a Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15 -Subparagraph b-d + Details
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- Definition This element represents the disclosure related to the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 + Details
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