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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Measurements  
Assets measured at fair value on a recurring basis

December 31, 2022

December 31, 2021

    

Level 1

    

Level 2

    

Level 3

    

Total

    

Level 1

    

Level 2

    

Level 3

    

Total

(in millions)

Assets

Investments (Note 4)

$

5,538

$

1,142

$

42

$

6,722

$

8,905

$

113

$

42

$

9,060

Derivative assets, net (Note 6)

 

 

805

 

 

805

 

 

612

 

 

612

$

5,538

$

1,947

$

42

$

7,527

$

8,905

$

725

$

42

$

9,672

Liabilities

Securities sold, not yet purchased (Note 4)

$

6,326

$

169

$

$

6,495

$

5,340

$

$

$

5,340

Derivative liabilities, net (Note 6)

 

 

691

 

 

691

 

 

787

 

 

787

Other liabilities

 

 

692

 

 

692

 

 

494

 

 

494

$

6,326

$

1,552

$

$

7,878

$

5,340

$

1,281

$

$

6,621

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

Year Ended December 31, 

    

2022

    

2021

(in millions)

Balance at January 1

$

42

$

41

Transfer in from Level 2

Net gains recognized in income

 

 

Purchases

1

Transfer out of Level 3

Sales

 

 

Other

 

 

Balance at December 31

$

42

$

42