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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2018
Fair Value Disclosures [Abstract] |
Carrying Values and Fair Values of Assets and Liabilities | The following table presents the carrying values and estimated fair values of assets and liabilities that are required to be recorded or disclosed at fair value at September 30, 2018 and December 31, 2017. Table 5.1 – Carrying Values and Fair Values of Assets and Liabilities
|  | September 30, 2018 |  | December 31, 2017
|  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
(In Thousands) |  |  |  |
Assets |  |  |  |  |  |  |  |
Residential loans, held-for-sale |  |  |  |  |  |  |  |
At fair value |  | $ | 866,331 |  |  | $ | 866,331 |  |  | $ | 1,427,052 |  |  | $ | 1,427,052 |
At lower of cost or fair value |  | 113 |  |  | 133 |  |  | 893 |  |  | 993 |
Residential loans, held-for-investment |  |  |  |  |  |  |  |
At fair value |  | 5,055,815 |  |  | 5,055,815 |  |  | 3,687,265 |  |  | 3,687,265 |
Business purpose loans |  | 115,620 |  |  | 115,620 |  |  | — |  |  | — |
Multifamily loans |  | 942,165 |  |  | 942,165 |  |  | — |  |  | — |
Trading securities |  | 1,108,243 |  |  | 1,108,243 |  |  | 968,844 |  |  | 968,844 |
Available-for-sale securities |  | 361,841 |  |  | 361,841 |  |  | 507,666 |  |  | 507,666 |
Cash and cash equivalents |  | 173,516 |  |  | 173,516 |  |  | 144,663 |  |  | 144,663 |
Restricted cash |  | 27,253 |  |  | 27,253 |  |  | 2,144 |  |  | 2,144 |
Accrued interest receivable |  | 35,644 |  |  | 35,644 |  |  | 27,013 |  |  | 27,013 |
Derivative assets |  | 87,219 |  |  | 87,219 |  |  | 15,718 |  |  | 15,718 |
MSRs (1) |  | 63,785 |  |  | 63,785 |  |  | 63,598 |  |  | 63,598 |
REO (1) |  | 2,915 |  |  | 3,490 |  |  | 3,354 |  |  | 3,806 |
Margin receivable (1) |  | 48,655 |  |  | 48,655 |  |  | 85,044 |  |  | 85,044 |
FHLBC stock (1) |  | 43,393 |  |  | 43,393 |  |  | 43,393 |  |  | 43,393 |
Guarantee asset (1) |  | 2,885 |  |  | 2,885 |  |  | 2,869 |  |  | 2,869 |
Pledged collateral (1) |  | 42,127 |  |  | 42,127 |  |  | 42,615 |  |  | 42,615 |
Participation in loan warehouse facility (1) |  | 39,219 |  |  | 39,219 |  |  | — |  |  | — |
Liabilities |  |  |  |  |  |  |  |
Short-term debt |  | $ | 1,424,275 |  |  | $ | 1,424,275 |  |  | $ | 1,688,412 |  |  | $ | 1,688,412 |
Accrued interest payable |  | 31,076 |  |  | 31,076 |  |  | 18,435 |  |  | 18,435 |
Margin payable (2) |  | 33,950 |  |  | 33,950 |  |  | 390 |  |  | 390 |
Guarantee obligation (2) |  | 17,423 |  |  | 17,409 |  |  | 19,487 |  |  | 18,878 |
Derivative liabilities |  | 42,724 |  |  | 42,724 |  |  | 63,081 |  |  | 63,081 |
ABS issued at fair value, net |  | 3,406,985 |  |  | 3,406,985 |  |  | 1,164,585 |  |  | 1,164,585 |
FHLBC long-term borrowings |  | 1,999,999 |  |  | 1,999,999 |  |  | 1,999,999 |  |  | 1,999,999 |
Convertible notes, net |  | 632,401 |  |  | 639,684 |  |  | 686,759 |  |  | 692,369 |
Trust preferred securities and subordinated notes, net |  | 138,570 |  |  | 108,113 |  |  | 138,535 |  |  | 103,230 |
(1) | These assets are included in Other assets on our consolidated balance sheets.
(2) | These liabilities are included in Accrued expenses and other liabilities on our consolidated balance sheets.
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table presents the assets and liabilities that are reported at fair value on our consolidated balance sheets on a recurring basis at September 30, 2018 and December 31, 2017, as well as the fair value hierarchy of the valuation inputs used to measure fair value. Table 5.2 – Assets and Liabilities Measured at Fair Value on a Recurring Basis
September 30, 2018 |  | Carrying Value |  | Fair Value Measurements Using
(In Thousands) |  |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |
Residential loans |  | $ | 5,922,146 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,922,146 |
Business purpose loans |  | 115,620 |  |  | — |  |  | — |  |  | 115,620 |
Multifamily loans |  | 942,165 |  |  | — |  |  | — |  |  | 942,165 |
Trading securities |  | 1,108,243 |  |  | — |  |  | — |  |  | 1,108,243 |
Available-for-sale securities |  | 361,841 |  |  | — |  |  | — |  |  | 361,841 |
Derivative assets |  | 87,219 |  |  | 7,031 |  |  | 78,006 |  |  | 2,182 |
MSRs |  | 63,785 |  |  | — |  |  | — |  |  | 63,785 |
Pledged collateral |  | 42,127 |  |  | 42,127 |  |  | — |  |  | — |
FHLBC stock |  | 43,393 |  |  | — |  |  | 43,393 |  |  | — |
Guarantee asset |  | 2,885 |  |  | — |  |  | — |  |  | 2,885 |
Liabilities |  |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | 42,724 |  |  | $ | 1,744 |  |  | $ | 38,581 |  |  | $ | 2,399 |
ABS issued |  | 3,406,985 |  |  | — |  |  | — |  |  | 3,406,985 |
December 31, 2017 |  | Carrying Value |  | Fair Value Measurements Using
(In Thousands) |  |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |
Residential loans |  | $ | 5,114,317 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,114,317 |
Trading securities |  | 968,844 |  |  | — |  |  | — |  |  | 968,844 |
Available-for-sale securities |  | 507,666 |  |  | — |  |  | — |  |  | 507,666 |
Derivative assets |  | 15,718 |  |  | 134 |  |  | 10,164 |  |  | 5,420 |
MSRs |  | 63,598 |  |  | — |  |  | — |  |  | 63,598 |
Pledged collateral |  | 42,615 |  |  | 42,615 |  |  | — |  |  | — |
FHLBC stock |  | 43,393 |  |  | — |  |  | 43,393 |  |  | — |
Guarantee asset |  | 2,869 |  |  | — |  |  | — |  |  | 2,869 |
Liabilities |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | 63,081 |  |  | $ | 3,808 |  |  | $ | 55,567 |  |  | $ | 3,706 |
ABS issued |  | 1,164,585 |  |  | — |  |  | — |  |  | 1,164,585 |
Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table presents additional information about Level 3 assets and liabilities measured at fair value on a recurring basis for the nine months ended September 30, 2018. Table 5.3 – Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis
|  | Assets |  |  |  | Liabilities
|  | Residential Loans |  | Business Purpose Loans |  | Multifamily Loans |  | Trading Securities |  | AFS Securities |  | MSRs |  | Guarantee Asset |  | Derivatives(1) |  | ABS Issued
(In Thousands) |  |  |  |  |  |  |  |  |
Beginning balance - December 31, 2017 |  | $ | 5,114,317 |  |  | $ | — |  |  | $ | — |  |  | $ | 968,844 |  |  | $ | 507,666 |  |  | $ | 63,598 |  |  | $ | 2,869 |  |  | $ | 1,714 |  |  | $ | 1,164,585 |
Acquisitions |  | 5,570,683 |  |  | 126,214 |  |  | 946,650 |  |  | 522,293 |  |  | 6,728 |  |  | — |  |  | — |  |  | — |  |  | 2,539,451 |
Sales |  | (4,135,911 | ) |  | — |  |  | — |  |  | (348,054 | ) |  | (118,423 | ) |  | (1,077 | ) |  | — |  |  | — |  |  | — |
Principal paydowns |  | (587,162 | ) |  | (10,912 | ) |  | (286 | ) |  | (25,847 | ) |  | (35,431 | ) |  | — |  |  | — |  |  | — |  |  | (305,529 | )
Gains (losses) in net income, net |  | (37,641 | ) |  | 318 |  |  | (4,199 | ) |  | 2,098 |  |  | 32,494 |  |  | 1,264 |  |  | 16 |  |  | (8,093 | ) |  | 8,478 |
Unrealized losses in OCI, net |  | — |  |  | — |  |  | — |  |  | — |  |  | (31,193 | ) |  | — |  |  | — |  |  | — |  |  | — |
Other settlements, net (2) |  | (2,140 | ) |  | — |  |  | — |  |  | (11,091 | ) |  | — |  |  | — |  |  | — |  |  | 6,162 |  |  | — |
Ending Balance - September 30, 2018 |  | $ | 5,922,146 |  |  | $ | 115,620 |  |  | $ | 942,165 |  |  | $ | 1,108,243 |  |  | $ | 361,841 |  |  | $ | 63,785 |  |  | $ | 2,885 |  |  | $ | (217 | ) |  | $ | 3,406,985 |
(1) | For the purpose of this presentation, derivative assets and liabilities, which consist of loan purchase and forward sale commitments, are presented on a net basis.
(2) | Other settlements, net for residential loans represents the transfer of loans to REO, and for derivatives, the settlement of forward sale commitments and the transfer of the fair value of loan purchase commitments at the time loans are acquired to the basis of residential loans. Other settlements, net for our trading securities relates to the consolidation of the Freddie Mac K-Series entities during the three months ended September 30, 2018.
Portion of Net Gains (Losses) Attributable to Level 3 Assets and Liabilities Still Held and Included in Net Income | The following table presents the portion of gains or losses included in our consolidated statements of income that were attributable to Level 3 assets and liabilities recorded at fair value on a recurring basis and held at September 30, 2018 and 2017. Gains or losses incurred on assets or liabilities sold, matured, called, or fully written down during the three and nine months ended September 30, 2018 and 2017 are not included in this presentation. Table 5.4 – Portion of Net Gains (Losses) Attributable to Level 3 Assets and Liabilities Still Held at September 30, 2018 and 2017 Included in Net Income
|  | Included in Net Income
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In Thousands) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Assets |  |  |  |  |  |  |  |
Residential loans at Redwood |  | $ | (18,100 | ) |  | $ | 14,359 |  |  | $ | (70,316 | ) |  | $ | 24,227 |
Residential loans at consolidated Sequoia entities |  | (8,978 | ) |  | 3,497 |  |  | 11,936 |  |  | 22,949 |
Business purpose loans |  | (20 | ) |  | — |  |  | (20 | ) |  | — |
Multifamily loans at consolidated Freddie Mac K-Series entities |  | (4,199 | ) |  | — |  |  | (4,199 | ) |  | — |
Trading securities |  | 3,821 |  |  | (36 | ) |  | (1,956 | ) |  | 24,452 |
Available-for-sale securities |  | (33 | ) |  | (3 | ) |  | (90 | ) |  | (248 | )
MSRs |  | 337 |  |  | 317 |  |  | 4,861 |  |  | (1,005 | )
Loan purchase commitments |  | 2,168 |  |  | 2,117 |  |  | 2,157 |  |  | 2,121 |
Other assets - Guarantee asset |  | (51 | ) |  | (239 | ) |  | 15 |  |  | (1,043 | )
Liabilities |  |  |  |  |  |  |  |
Loan purchase commitments |  | $ | (2,314 | ) |  | $ | — |  |  | $ | (2,388 | ) |  | $ | — |
ABS issued |  | 12,536 |  |  | (7,771 | ) |  | (8,478 | ) |  | (30,286 | )
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | The following table presents information on assets recorded at fair value on a non-recurring basis at September 30, 2018. This table does not include the carrying value and gains or losses associated with the asset types below that were not recorded at fair value on our consolidated balance sheets at September 30, 2018. Table 5.5 – Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis at September 30, 2018
|  |  |  |  |  |  |  |  |  | Gain (Loss) for
September 30, 2018 |  | Carrying Value |  | Fair Value Measurements Using |  | Three Months Ended |  | Nine Months Ended
(In Thousands) |  |  | Level 1 |  | Level 2 |  | Level 3 |  | September 30, 2018 |  | September 30, 2018
Assets |  |  |  |  |  |  |  |  |  |  |  |
REO |  | $ | 1,804 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,804 |  |  | $ | (37 | ) |  | $ | (162 | )
Market Valuation Gains and Losses, Net | The following table presents the net market valuation gains and losses recorded in each line item of our consolidated statements of income for the three and nine months ended September 30, 2018 and 2017. Table 5.6 – Market Valuation Gains and Losses, Net
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In Thousands) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Mortgage Banking Activities, Net |  |  |  |  |  |  |  |
Residential loans held-for-sale, at fair value |  | $ | 5,626 |  |  | $ | 14,859 |  |  | $ | 16,522 |  |  | $ | 29,175 |
Single-family rental loans held-for-sale, at fair value |  | (121 | ) |  | — |  |  | (121 | ) |  | — |
Residential loan purchase and forward sale commitments |  | 1,610 |  |  | 13,276 |  |  | (8,116 | ) |  | 33,947 |
Risk management derivatives, net |  | 3,796 |  |  | (7,077 | ) |  | 38,378 |  |  | (13,787 | )
Total mortgage banking activities, net (1) |  | $ | 10,911 |  |  | $ | 21,058 |  |  | $ | 46,663 |  |  | $ | 49,335 |
Investment Fair Value Changes, Net |  |  |  |  |  |  |  |
Residential loans held-for-investment, at Redwood |  | $ | (17,063 | ) |  | $ | 2,881 |  |  | $ | (71,058 | ) |  | $ | 8,902 |
Fix-and-flip loans held-for-investment |  | 53 |  |  | — |  |  | 53 |  |  | — |
Trading securities |  | 6,314 |  |  | 607 |  |  | 2,429 |  |  | 30,676 |
Valuation adjustments on commercial loans held-for-sale |  | — |  |  | — |  |  | — |  |  | 300 |
Net investments in Legacy Sequoia entities (2) |  | (248 | ) |  | (1,045 | ) |  | (976 | ) |  | (3,842 | )
Net investments in Sequoia Choice entities (2) |  | (943 | ) |  | (256 | ) |  | 43 |  |  | (256 | )
Net investments in Freddie Mac K-Series entities (2) |  | 511 |  |  | — |  |  | 511 |  |  | — |
Risk-sharing investments |  | (126 | ) |  | (267 | ) |  | (474 | ) |  | (985 | )
Risk management derivatives, net |  | 21,867 |  |  | (1,592 | ) |  | 82,391 |  |  | (24,557 | )
Impairments on AFS securities |  | (33 | ) |  | (4 | ) |  | (89 | ) |  | (248 | )
Total investment fair value changes, net |  | $ | 10,332 |  |  | $ | 324 |  |  | $ | 12,830 |  |  | $ | 9,990 |
Other Income, Net |  |  |  |  |  |  |  |
MSRs |  | $ | (823 | ) |  | $ | (1,351 | ) |  | $ | 1,324 |  |  | $ | (10,842 | )
MSR risk management derivatives, net |  | (890 | ) |  | (422 | ) |  | (7,151 | ) |  | 1,869 |
Total other income, net (3) |  | $ | (1,713 | ) |  | $ | (1,773 | ) |  | $ | (5,827 | ) |  | $ | (8,973 | )
Total Market Valuation Gains, Net |  | $ | 19,530 |  |  | $ | 19,609 |  |  | $ | 53,666 |  |  | $ | 50,352 |
(1) | Mortgage banking activities, net presented above does not include fee income or provisions for repurchases that are components of Mortgage banking activities, net presented on our consolidated statements of income, as these amounts do not represent market valuation changes.
(2) | Includes changes in fair value of the residential loans held-for-investment, REO and the ABS issued at the entities, which netted together represent the change in value of our retained investments at the consolidated VIEs.
(3) | Other income, net presented above does not include net MSR fee income or provisions for repurchases for MSRs, as these amounts do not represent market valuation adjustments.
Quantitative Information about Significant Unobservable Inputs Used in Valuation of Level 3 Assets and Liabilities Measured at Fair Value | The following table provides quantitative information about the significant unobservable inputs used in the valuation of our Level 3 assets and liabilities measured at fair value. Table 5.7 – Fair Value Methodology for Level 3 Financial Instruments
September 30, 2018 |  | Fair Value |  |  |  | Input Values
(Dollars in Thousands, except Input Values) |  |  | Unobservable Input |  | Range |  |  | Weighted Average
Assets |  |  |  |  |  |  |  |  |  |  |  |
Residential loans, at fair value: |  |  |  |  |  |  |  |  |  |  |  |
Jumbo fixed-rate loans |  | $ | 2,729,424 |  |  | Whole loan spread to TBA price |  | $ | 1.84 |  | - | $ | 2.80 |  |  |  | $ | 2.77 |  |
|  |  |  | Whole loan spread to swap rate |  | 90 |  | - | 198 |  | bps |  | 193 |  | bps
Jumbo hybrid loans |  | 319,029 |  |  | Prepayment rate (annual CPR) |  | 15 |  | - | 15 |  | % |  | 15 |  | %
|  |  |  | Whole loan spread to swap rate |  | 75 |  | - | 155 |  | bps |  | 125 |  | bps
Jumbo loans committed to sell |  | 138,540 |  |  | Whole loan committed sales price |  | $ | 100.98 |  | - | $ | 101.15 |  |  |  | $ | 101.08 |  |
Loans held by Legacy Sequoia (1) |  | 553,958 |  |  | Liability price |  |  |  | N/A |  |  |  | N/A |  |
Loans held by Sequoia Choice (1) |  | 2,181,195 |  |  | Liability price |  |  |  | N/A |  |  |  | N/A |  |
Business purpose loans: |  |  |  |  |  |  |  |  |  |  |  |
Single-family rental loans |  | 20,105 |  |  | Whole loan spread to swap rate |  | 247 |  | - | 247 |  | bps |  | 247 |  | bps
|  |  |  | Prepayment rate (annual CPR) |  | 3 |  | - | 3 |  | % |  | 3 |  | %
Fix-and-flip loans |  | 95,515 |  |  | Discount rate |  | 7 |  | - | 8 |  | % |  | 7 |  | %
Multifamily loans held by Freddie Mac K-Series (1) |  | 942,165 |  |  | Liability price |  |  |  | N/A |  |  |  | N/A |  |
Trading and AFS securities |  | 1,470,084 |  |  | Discount rate |  | 3 |  | - | 15 |  | % |  | 6 |  | %
|  |  |  | Prepayment rate (annual CPR) |  | — |  | - | 50 |  | % |  | 8 |  | %
|  |  |  | Default rate |  | — |  | - | 27 |  | % |  | 2 |  | %
|  |  |  | Loss severity |  | — |  | - | 40 |  | % |  | 22 |  | %
MSRs |  | 63,785 |  |  | Discount rate |  | 11 |  | - | 67 |  | % |  | 11 |  | %
|  |  |  | Prepayment rate (annual CPR) |  | 4 |  | - | 22 |  | % |  | 7 |  | %
|  |  |  | Per loan annual cost to service |  | $ | 82 |  | - | $ | 82 |  |  |  | $ | 82 |  |
Guarantee asset |  | 2,885 |  |  | Discount rate |  | 11 |  | - | 11 |  | % |  | 11 |  | %
|  |  |  | Prepayment rate (annual CPR) |  | 7 |  | - | 7 |  | % |  | 7 |  | %
REO |  | 1,804 |  |  | Loss severity |  | 13 |  | - | 45 |  | % |  | 30 |  | %
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
ABS issued (1): |  |  |  |  |  |  |  |  |  |  |  |
At consolidated Sequoia entities |  | 2,531,379 |  |  | Discount rate |  | 3 |  | - | 15 |  | % |  | 4 |  | %
|  |  |  | Prepayment rate (annual CPR) |  | 8 |  | - | 32 |  | % |  | 19 |  | %
|  |  |  | Default rate |  | — |  | - | 8 |  | % |  | 2 |  | %
|  |  |  | Loss severity |  | 20 |  | - | 20 |  | % |  | 20 |  | %
At consolidated Freddie Mac K-Series entities |  | 875,606 |  |  | Discount rate |  | 3 |  |  | 9 |  | % |  | 4 |  | %
|  |  |  | Prepayment rate (annual CPR) |  | — |  |  | — |  | % |  | — |  | %
|  |  |  | Default rate |  | 1 |  |  | 1 |  | % |  | 1 |  | %
|  |  |  | Loss severity |  | 20 |  |  | 20 |  | % |  | 20 |  | %
Loan purchase commitments, net |  | 217 |  |  | MSR multiple |  | 1.0 |  | - | 5.4 |  | x |  | 3.5 |  | x
|  |  |  | Pull-through rate |  | 16 |  | - | 100 |  | % |  | 72 |  | %
|  |  |  | Whole loan spread to TBA price |  | $ | 2.69 |  | - | $ | 2.69 |  |  |  | $ | 2.69 |  |
|  |  |  | Whole loan spread to swap rate - fixed rate |  | 90 |  | - | 198 |  | bps |  | 196 |  | bps
|  |  |  | Prepayment rate (annual CPR) |  | 15 |  | - | 15 |  | % |  | 15 |  | %
|  |  |  | Whole loan spread to swap rate - hybrid |  | 75 |  | - | 155 |  | bps |  | 99 |  | bps
Footnote to Table 5.7
(1) | The fair value of the loans held by consolidated entities was based on the fair value of the ABS issued by these entities, which we determined were more readily observable, in accordance with accounting guidance for collateralized financing entities.

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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