Investments (Tables)

12 Months Ended

Dec. 31, 2015

Investments Debt And Equity Securities [Abstract]

Summary of Carrying Value of Total Investments

A summary of the carrying value of total investments is as follows:

(in millions)	December 31, 2015		December 31, 2014
Available-for-sale investments	$	44	$	201
Held-to-maturity investments		108		79
Trading investments:
Consolidated sponsored investment funds		700		443
Other equity and debt securities		20		29
Deferred compensation plan mutual funds		65		64
Total trading investments		785		536
Other investments:
Consolidated sponsored investment funds		-		270
Equity method investments		513		633
Deferred compensation plan equity method investments		14		21
Cost method investments⁽¹⁾		95		96
Carried interest		19		85
Total other investments		641		1,105
Total investments	$	1,578	$	1,921

(1)	Amounts primarily include Federal Reserve Bank (“FRB”) Stock.

Summary of Cost and Carrying Value of Investments Classified as Available-for-Sale Investments

A summary of the cost and carrying value of investments classified as available-for-sale investments is as follows:

(in millions)			Gross Unrealized					Carrying
	Cost		Gains		Losses			Value
December 31, 2015	$	45	$	2	$	(3	)	$	44

December 31, 2014	$	205	$	5	$	(9	)	$	201

Summary of Sale Activity of Available-for-Sale-Securities

A summary of sale activity of available-for-sale securities during 2015, 2014 and 2013 is shown below.

	Year ended December 31,
(in millions)	2015			2014			2013
Sales proceeds	$	36		$	155		$	139
Net realized gain (loss):
Gross realized gains	$	3		$	14		$	20
Gross realized losses		(1	)		(3	)		(1	)
Net realized gain (loss)	$	2		$	11		$	19

Summary of Cost and Carrying Value of Trading Investments

A summary of the cost and carrying value of trading investments is as follows:

	December 31, 2015				December 31, 2014
(in millions)	Cost		Carrying Value		Cost		Carrying Value
Trading investments:
Deferred compensation plan mutual funds	$	48	$	65	$	48	$	64
Equity securities/multi-asset mutual funds	294		279			210		239
Debt securities/fixed income mutual funds:
Corporate debt	194		190			109		110
Government debt	202		202			100		103
Asset/mortgage backed debt	49		49			20		20
Total trading investments	$	787	$	785	$	487	$	536

Summary of Cost and Carrying Value of Other Investments

A summary of the cost and carrying value of other investments is as follows:

	December 31, 2015				December 31, 2014
(in millions)	Cost		Carrying Value		Cost		Carrying Value
Other investments:
Consolidated sponsored investment funds accounted for as VREs	$	-	$	-	$	268	$	270
Equity method Investments	429		513			518		633
Deferred compensation plan equity method investments	14		14			21		21
Cost method investments:
Federal Reserve Bank stock	93		93			92		92
Other	2		2			4		4
Total cost method investments	95		95			96		96
Carried interest⁽¹⁾		—	19			—		85
Total other investments	$	538	$	641	$	903	$	1,105

(1)	Carried interest related to VREs.

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details