Note 17.
Other Liabilities and Accrued Expenses
The table below presents other liabilities and accrued expenses by type.
| As of December | ||||||||
| in millions | 2013 | 2012 | ||||||
|
Compensation and benefits |
$ 7,874 | $ 8,292 | ||||||
|
Insurance-related liabilities 1 |
— | 10,274 | ||||||
|
Noncontrolling interests 2 |
326 | 508 | ||||||
|
Income tax-related liabilities 3 |
1,974 | 2,724 | ||||||
|
Employee interests in consolidated funds |
210 | 246 | ||||||
|
Subordinated liabilities issued by consolidated VIEs |
477 | 1,360 | ||||||
|
Accrued expenses and other |
5,183 | 18,991 | 4 | |||||
|
Total |
$16,044 | $42,395 | ||||||
| 1. |
Represents liabilities for future benefits and unpaid claims carried at fair value under the fair value option related to the firm’s European insurance business, in which a majority stake was sold in December 2013. See Note 3 for further information. |
| 2. |
Primarily relates to consolidated investment funds. |
| 3. |
See Note 24 for further information about income taxes. |
| 4. |
Includes $14.62 billion of liabilities classified as held for sale as of December 2012 related to the firm’s Americas reinsurance business, in which a majority stake was sold in April 2013. See Note 12 for further information. |