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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Assets measured at fair value on a recurring basis

December 31, 2021

December 31, 2020

    

Level 1

    

Level 2

    

Level 3

    

Total

    

Level 1

    

Level 2

    

Level 3

    

Total

(in millions)

Assets

Investments (Note 4)

$

8,905

$

113

$

42

$

9,060

$

8,546

$

174

$

41

$

8,761

Derivative assets, net (Note 6)

 

 

612

 

 

612

 

 

785

 

 

785

$

8,905

$

725

$

42

$

9,672

$

8,546

$

959

$

41

$

9,546

Liabilities

Securities sold, not yet purchased (Note 4)

$

5,340

$

$

$

5,340

$

2,521

$

$

$

2,521

Derivative liabilities, net (Note 6)

 

 

787

 

 

787

 

11

 

628

 

 

639

Other liabilities

 

 

494

 

 

494

 

 

214

 

 

214

$

5,340

$

1,281

$

$

6,621

$

2,532

$

842

$

$

3,374

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

Year Ended December 31, 

    

2021

    

2020

(in millions)

Balance at January 1

$

41

$

3

Transfer in from Level 2

136

Net gains recognized in income

 

 

48

Purchases

1

101

Transfer out of Level 3

(246)

Sales

 

 

Other

 

 

(1)

Balance at December 31

$

42

$

41