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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

Investment Securities (Tables) [Abstract]

Schedule of Available for Sale Securities by Type

The following is a summary of investment securities as of March 31, 2013 and December 31, 2012:

			2013												2012
							Gross			Gross			Estimated						Gross			Gross			Estimated
							Unrealized			Unrealized			Fair						Unrealized			Unrealized			Fair
Description of Securities (Millions)				Cost			Gains			Losses			Value			Cost			Gains			Losses			Value
State and municipal obligations			$	4,467		$	190		$	(5)		$	4,652		$	4,280		$	199		$	(5)		$	4,474
U.S. Government agency obligations				3			―			―			3			3			―			―			3
U.S. Government treasury obligations				330			7			―			337			330			8			―			338
Corporate debt securities				39			5			―			44			73			6			―			79
Mortgage-backed securities(a)				190			12			―			202			210			14			―			224
Equity securities(b)				55			196			―			251			64			232			―			296
Foreign government bonds and
	obligations			242			11			―			253			134			15			―			149
Other(c)				51			―			―			51			51			―			―			51
Total			$	5,377		$	421		$	(5)		$	5,793		$	5,145		$	474		$	(5)		$	5,614

• Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
• Primarily represents the Company's investment in ICBC.
• 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 March 31, 2013 and December 31, 2012:

		2013												2012
		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		$	93		$	(2)		$	75		$	(3)		$	100		$	(1)		$	73		$	(4)
Total		$	93		$	(2)		$	75		$	(3)		$	100		$	(1)		$	73		$	(4)

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 March 31, 2013 and December 31, 2012:

			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
2013:
90%–100%			22		$	93		$	(2)		4		$	75		$	(3)		26		$	168		$	(5)
Total as of March 31, 2013			22		$	93		$	(2)		4		$	75		$	(3)		26		$	168		$	(5)
2012:
90%–100%			46		$	100		$	(1)		4		$	73		$	(4)		50		$	173		$	(5)
Total as of December 31, 2012			46		$	100		$	(1)		4		$	73		$	(4)		50		$	173		$	(5)

Contractual maturities of investment securities

Contractual maturities of investment securities, excluding equity securities and other securities, as of March 31, 2013 were as follows:

							Estimated
(Millions)				Cost			Fair Value
Due within 1 year			$	478		$	479
Due after 1 year but within 5 years				509			519
Due after 5 years but within 10 years				175			188
Due after 10 years				4,109			4,305
Total			$	5,271		$	5,491

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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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

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