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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Assets measured at fair value on a recurring basis

June 30, 2020

December 31, 2019

    

Level 1

    

Level 2

    

Level 3

    

Total

    

Level 1

    

Level 2

    

Level 3

    

Total

(in millions)

Assets

Investments (Note 4)

$

9,057

$

233

$

3

$

9,293

$

9,448

$

281

$

3

$

9,732

Derivative contracts, at fair value (Note 6)

 

 

1,927

 

 

1,927

 

 

182

 

 

182

$

9,057

$

2,160

$

3

$

11,220

$

9,448

$

463

$

3

$

9,914

Liabilities

Securities sold, not yet purchased (Note 4)

$

1,819

$

$

$

1,819

$

1,190

$

$

$

1,190

Derivative contracts, at fair value (Note 6)

 

 

142

 

 

142

 

 

1,224

 

 

1,224

Other liabilities

 

 

12

 

3

 

15

 

 

7

 

6

 

13

$

1,819

$

154

$

3

$

1,976

$

1,190

$

1,231

$

6

$

2,427

Assets measured at fair value on a recurring basis for which we use Level 3 inputs to determine fair value

Six Months Ended June 30, 

    

2020

    

2019

(in millions)

Balance at January 1

$

3

$

372

Net gains recognized in income

 

 

89

Sales

 

 

(458)

Balance at June 30

$

3

$

3