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Acquired Property Net
 12 Months Ended
Dec. 31, 2013
Real Estate [Abstract]  
Acquired Property, Net
Acquired Property, Net
Acquired property, net consists of held-for-sale foreclosed property received in 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, 2013, 2012 and 2011.
 
For the Year Ended December 31,
 
2013
 
2012
 
2011
 
 
(Dollars in millions)
Beginning balance, January 1
 
$
10,489

 
 
 
$
11,373

 
 
 
$
16,173

Additions
 
15,662

 
 
 
16,292

 
 
 
18,049

Disposals
 
(13,919
)
 
 
 
(16,629
)
 
 
 
(21,617
)
Write-downs, net of recoveries
 
(611
)
 
 
 
(547
)
 
 
 
(1,232
)
Ending balance, December 31(1)
 
$
11,621

 
 
 
$
10,489

 
 
 
$
11,373


__________
(1) 
Includes valuation allowance of $686 million, $669 million and $1.0 billion for the years ended December 31, 2013, 2012 and 2011, 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 included 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, 2013, 2012 and 2011.
 
For the Year Ended December 31,
 
2013
 
2012
 
2011
 
(Dollars in millions)
Beginning balance, January 1
 
$
873

 
 
 
$
835

 
 
 
$
889

Transfers in from held for sale, net and additions
 
544

 
 
 
1,173

 
 
 
1,045

Transfers to held for sale, net
 
(1,027
)
 
 
 
(748
)
 
 
 
(547
)
Depreciation, asset write-downs, and other
 
(134
)
 
 
 
(387
)
 
 
 
(552
)
Ending balance, December 31
 
$
256

 
 
 
$
873

 
 
 
$
835