TD Ameritrade 2018 Annual Report

TD AMERITRADE HOLDING CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) 89 The following tables present the Company's fair value hierarchy for assets and liabilities measured at fair value on a recurring basis as of September 30, 2018 and 2017 (dollars in millions): As of September 30, 2018 Level 1 Level 2 Level 3 Fair Value Assets: Cash equivalents: Money market mutual funds . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,373 $ — $ — $ 2,373 Investments segregated and on deposit for regulatory purposes: U.S. government debt securities . . . . . . . . . . . . . . . . . . . . . . . . — 225 — 225 U.S. government agency mortgage-backed securities . . . . . . . . — 1,302 — 1,302 Subtotal - Investments segregated for regulatory purposes — 1,527 — 1,527 Securities owned: U.S. government debt securities . . . . . . . . . . . . . . . . . . . . . . . . — 149 — 149 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 6 — 7 Subtotal - Securities owned . . . . . . . . . . . . . . . . . . . . . . . . 1 155 — 156 Investments available-for-sale: U.S. government debt securities . . . . . . . . . . . . . . . . . . . . . . . . — 484 — 484 Other assets: Pay-variable interest rate swaps (1) . . . . . . . . . . . . . . . . . . . . . . . — 2 — 2 U.S. government debt securities . . . . . . . . . . . . . . . . . . . . . . . . — 1 — 1 Auction rate securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 1 1 Subtotal - Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 3 1 4 Total assets at fair value. . . . . . . . . . . . . . . . . . . . . . . . $ 2,374 $ 2,169 $ 1 $ 4,544 Liabilities: Accounts payable and other liabilities: Pay-variable interest rate swaps (1) . . . . . . . . . . . . . . . . . . . . . . . $ — $ 96 $ — $ 96 (1) See " Fair Value Hedging " in Note 10 for details.