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Investment Securities (Tables) | 6 Months Ended
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Jun. 30, 2012
Investment Securities (Tables) [Abstract] |
Schedule of Available for Sale Securities by Type | The following is a summary of investment securities as of June 30, 2012 and December 31, 2011:
|  |  | 2012 |  | 2011
|  |  |  |  |  |  | Gross |  |  | Gross |  |  | Estimated |  |  |  |  |  | Gross |  |  | Gross |  |  | Estimated
|  |  |  |  |  | Unrealized |  | Unrealized |  |  | Fair |  |  |  | Unrealized |  | Unrealized |  |  | Fair
(Millions) |  |  | Cost |  | Gains |  | Losses |  |  | Value |  | Cost |  | Gains |  | Losses |  |  | Value
State and municipal obligations |  | $ | 4,643 |  | $ | 157 |  | $ | (21) |  | $ | 4,779 |  | $ | 4,968 |  | $ | 103 |  | $ | (72) |  | $ | 4,999
U.S. Government agency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| obligations |  |  | 3 |  |  | ― |  |  | ― |  |  | 3 |  |  | 352 |  |  | 2 |  |  | ― |  |  | 354
U.S. Government treasury |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| obligations |  |  | 330 |  |  | 9 |  |  | ― |  |  | 339 |  |  | 330 |  |  | 10 |  |  | ― |  |  | 340
Corporate debt securities(a) |  |  | 471 |  |  | 5 |  |  | (2) |  |  | 474 |  |  | 626 |  |  | 9 |  |  | (3) |  |  | 632
Mortgage-backed securities(b) |  |  | 241 |  |  | 17 |  |  | ― |  |  | 258 |  |  | 261 |  |  | 17 |  |  | ― |  |  | 278
Equity securities(c) |  |  | 81 |  |  | 209 |  |  | ― |  |  | 290 |  |  | 95 |  |  | 265 |  |  | ― |  |  | 360
Foreign government bonds and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| obligations |  |  | 118 |  |  | 12 |  |  | ― |  |  | 130 |  |  | 120 |  |  | 10 |  |  | ― |  |  | 130
Other(d) |  |  | 52 |  |  | 1 |  |  | ― |  |  | 53 |  |  | 54 |  |  | ― |  |  | ― |  |  | 54
Total |  | $ | 5,939 |  | $ | 410 |  | $ | (23) |  | $ | 6,326 |  | $ | 6,806 |  | $ | 416 |  | $ | (75) |  | $ | 7,147
(a) T he June 30, 2012 and December 31, 2011 balances include, on a cost basis, $400 m illion and $550 m illion, respectively, of corporate debt obligations issued under the Temporary Li quidity Guarantee Program that are guaranteed by the Federal Deposit Insurance Corporation (FDIC). (b) Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. (c) Primarily r epresents the Company's investment in the Industrial and Commercial Bank of China (ICBC). (d) Other comprises investments in various mutual funds.
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | The following table provides information about the Company's investment securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2012 and December 31, 2011:
|  | 2012 |  | 2011
|  | Less than 12 months |  | 12 months or more |  | Less than 12 months |  | 12 months or more
|  |  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |  |  | Gross
|  |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |  |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized
Description of Securities (Millions) |  |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  |  | Fair Value |  | Losses |  | Fair Value |  | Losses
State and municipal obligations |  | $ | 96 |  | $ | (1) |  | $ | 351 |  | $ | (20) |  | $ | ― |  | $ | ― |  | $ | 1,094 |  | $ | (72)
Corporate debt securities |  |  | 15 |  |  | (1) |  |  | 3 |  |  | (1) |  |  | 15 |  |  | (2) |  |  | 2 |  |  | (1)
Total |  | $ | 111 |  | $ | (2) |  | $ | 354 |  | $ | (21) |  | $ | 15 |  | $ | (2) |  | $ | 1,096 |  | $ | (73)
Available for Sale Securities Ratio of Fair Value to Amortized Cost | The following table summarizes the gross unrealized losses due to temporary impairments by ratio of fair value to amortized cost as of June 30, 2012 and December 31, 2011:
|  | Less than 12 months |  | 12 months or more |  | Total
|  |  |  |  |  |  |  | Gross |  |  |  |  |  |  |  | Gross |  |  |  |  |  |  |  | Gross
Ratio of Fair Value to |  | Number of |  | Estimated |  | Unrealized |  | Number of |  | Estimated |  | Unrealized |  | Number of |  | Estimated |  | Unrealized
Amortized Cost (Dollars in millions) |  | Securities |  | Fair Value |  | Losses |  | Securities |  | Fair Value |  | Losses |  | Securities |  | Fair Value |  | Losses
2012: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90%–100% |  | 15 |  | $ | 111 |  | $ | (2) |  | 31 |  | $ | 281 |  | $ | (8) |  | 46 |  | $ | 392 |  | $ | (10)
Less than 90% |  | ― |  |  | ― |  |  | ― |  | 6 |  |  | 73 |  |  | (13) |  | 6 |  |  | 73 |  |  | (13)
Total as of June 30, 2012 |  | 15 |  | $ | 111 |  | $ | (2) |  | 37 |  | $ | 354 |  | $ | (21) |  | 52 |  | $ | 465 |  | $ | (23)
2011: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
90%–100% |  | ― |  | $ | ― |  | $ | ― |  | 114 |  | $ | 884 |  | $ | (35) |  | 114 |  | $ | 884 |  | $ | (35)
Less than 90% |  | 1 |  |  | 15 |  |  | (2) |  | 22 |  |  | 212 |  |  | (38) |  | 23 |  |  | 227 |  |  | (40)
Total as of December 31, 2011 |  | 1 |  | $ | 15 |  | $ | (2) |  | 136 |  | $ | 1,096 |  | $ | (73) |  | 137 |  | $ | 1,111 |  | $ | (75)
Contractual maturities of investment securities | Contractual ma turities of investment securities, excluding equity securities and other securities, as of June 30, 2012 were as follows:
|  |  |  |  |  |  | Estimated
(Millions) |  | Cost |  | Fair Value
Due within 1 year |  | $ | 545 |  | $ | 549
Due after 1 year but within 5 years |  |  | 358 |  |  | 366
Due after 5 years but within 10 years |  |  | 176 |  |  | 187
Due after 10 years |  |  | 4,727 |  |  | 4,881
Total |  | $ | 5,806 |  | $ | 5,983

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 320 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 6 -Section 50 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 + Details
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