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Acquired Property Net
 12 Months Ended
Dec. 31, 2012
Real Estate [Abstract]  
Acquired Property, Net
Acquired Property, Net
Acquired property, net consists of held-for-sale foreclosed property received in full satisfaction of a loan, net of a valuation allowance for declines in the fair value of the properties after initial acquisition. We classify properties as held for sale when we intend to sell the property and are actively marketing it for sale. The following table displays the activity in acquired property net of the related valuation allowance for the years ended December 31, 2012, 2011 and 2010.
 
For the Year Ended December 31,
 
2012
 
2011
 
2010
 
(Dollars in millions)
Beginning balance, January 1
$
11,373

 
$
16,173

 
$
9,142

Additions
16,292

 
18,049

 
25,199

Disposals
(16,629
)
 
(21,617
)
 
(16,237
)
Write-downs, net of recoveries
(547
)
 
(1,232
)
 
(1,931
)
Ending balance, December 31(1)
$
10,489

 
$
11,373

 
$
16,173


__________
(1) 
Includes valuation allowance of $669 million, $1.0 billion and $1.9 billion for the years ended December 31, 2012, 2011 and 2010, respectively.
We classify as held for use those properties that we do not intend to sell or that are not ready for immediate sale in their current condition, which are reflected in “Other assets” in our consolidated balance sheets. The following table displays the activity and carrying amount of acquired properties held for use for the years ended December 31, 2012, 2011 and 2010.
 
For the Year Ended December 31,
 
2012
 
2011
 
2010
 
(Dollars in millions)
Beginning balance, January 1
 
$
835

 
 
 
$
889

 
 
 
$
44

Transfers in from held for sale, net and additions
 
1,173

 
 
 
1,045

 
 
 
977

Transfers to held for sale, net
 
(748
)
 
 
 
(547
)
 
 
 
(64
)
Depreciation, asset write-downs, and other
 
(387
)
 
 
 
(552
)
 
 
 
(68
)
Ending balance, December 31
 
$
873

 
 
 
$
835

 
 
 
$
889