v3.3.1.900
Fair Values (Tables)
 12 Months Ended
Dec. 31, 2015
Table Text Block [Abstract]  
Fair value assets and liabilities measured on recurring basis

The following table summarizes the Company’s financial assets and financial liabilities measured at fair value on a recurring basis, categorized by GAAP’s valuation hierarchy (as described in the preceding paragraphs), as of December 31:

  2015  2014
(Millions)  Total  Level 1  Level 2  Level 3  Total  Level 1  Level 2  Level 3
Assets:                
Investment securities:(a)              
Equity securities  $1  $1  $―  $―  $1  $1  $―  $―
Debt securities and other3,758409  3,349  ―  4,430  350  4,080  ―
Derivatives(a)544―  545  ―  991  ―  991  ―
Total assets  4,303  410  3,894  ―  5,422  351  5,071  ―
Liabilities:                
Derivatives(a)201  ―  201  ―  164  ―  164  ―
Total liabilities  $201  $―  $201  $―  $164  $―  $164  $―

  • Refer to Note 5 for the fair values of investment securities and to Note 14 for the fair values of derivative assets and liabilities, on a further disaggregated basis.
Estimated fair value of financial assets and financial liabilities

The following table summarizes the estimated fair values of the Company’s financial assets and financial liabilities that are not required to be carried at fair value on a recurring basis, as of December 31, 2015 and 2014

Carrying  Corresponding Fair Value Amount
2015 (Billions)ValueTotalLevel 1Level 2Level 3
Financial Assets:    
Financial assets for which carrying values equal or
approximate fair value  
Cash and cash equivalents$23$ 23$ 22$ 1(a)$ ―
Other financial assets(b)4747― 47―
Financial assets carried at other than fair value
Card Member loans and receivables HFS(d)  1515― ― 15
Loans, net  59  60(c)― ― 60
Financial Liabilities:    
Financial liabilities for which carrying values equal or
approximate fair value67  67― 67―
Financial liabilities carried at other than fair value
Certificates of deposit(e)  14  14 ―14―
Long-term debt  $48  $49(c)$ ―$49$ ―
Carrying  Corresponding Fair Value Amount
2014 (Billions)ValueTotalLevel 1Level 2Level 3
Financial Assets:    
Financial assets for which carrying values equal or
approximate fair value  
Cash and cash equivalents$22$ 22$ 21$ 1(a)$ ―
Other financial assets(b)48 48― 48 ―
Financial assets carried at other than fair value
Loans, net  70   71(c) ― ―71
Financial Liabilities:    
Financial liabilities for which carrying values equal or
approximate fair value61  61 ―61―
Financial liabilities carried at other than fair value
Certificates of deposit(e)  8  8― 8―
Long-term debt  $58  $60(c)$ ―$60$ ―

  • Reflects time deposits.
  • Includes accounts receivable (including fair values of Card Member receivables of $6.7 billion and $7.0 billion held by a consolidated VIE as of December 31, 2015 and 2014, respectively), restricted cash and other miscellaneous assets.
  • Includes fair values of Card Member loans of $23.5 billion and $29.9 billion, and long-term debt of $13.6 billion and $19.5 billion held by consolidated VIEs as of December 31, 2015 and 2014, respectively.
  • Does not include any fair value associated with the Card Member account relationships. Refer to Note 2 for additional information.
  • Presented as a component of customer deposits on the Consolidated Balance Sheets.