Cash, Cash Equivalents and Marketable Securities

6 Months Ended

Jun. 30, 2011

Cash, Cash Equivalents and Marketable Securities [Abstract]

Cash, Cash Equivalents and marketable securities

4. Cash, Cash Equivalents and Marketable Securities

     A summary of our cash, cash equivalents and short- and long-term marketable securities by major security type follows:

				Short-Term		Long-Term
	Cash and			Marketable		Marketable
	Cash Equivalents			Securities		Securities		Total
			(In millions)
June 30, 2011
Cash	$	104		$	—	$	—	$	104
Bank deposits		812			—		—		812
Certificate of deposits		3			5		1		9
Money market funds		212			—		—		212
U.S. treasury and and agency obligations		—			256		960		1,216
Foreign government and agency obligations		—			1		5		6
Commercial paper		646			361		—		1,007
Corporate bonds		20			199		198		417
Asset-backed securities and other		—			7		10		17
	$	1,797		$	829	$	1,174	$	3,800
December 31, 2010
Cash	$	103		$	—	$	—	$	103
Bank deposits		455			—		—		455
Money market funds		641			—		—		641
U.S. treasury and and agency obligations		4			586		1,360		1,950
Commercial paper		419			363		—		782
Corporate bonds		—			86		41		127
	$	1,622		$	1,035	$	1,401	$	4,058

     The following table presents the gross unrealized gains and losses and fair values for those investments aggregated by major security type:

			Gross		Gross
			Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
	(In millions)
June 30, 2011
U.S. treasury and and agency obligations	$	1,215	$	1	$	—		$	1,216
Corporate bonds		416		1		—			417
	$	1,631	$	2	$	—		$	1,633
December 31, 2010
U.S. treasury and and agency obligations	$	1,953	$	2	$	(5	)	$	1,950

     The following table shows the fair value measurements for those investments aggregated by major security type:

	Level 1		Level 2		Level 3		Fair Value
			(In millions)
June 30, 2011
Cash	$	104	$	—	$	—	$	104
Bank deposits		812		—		—		812
Certificate of deposits		9		—		—		9
Money market funds		212		—		—		212
U.S. treasury and and agency obligations		1,216		—		—		1,216
Foreign government and agency obligations		—		6		—		6
Commercial paper		—		1,007		—		1,007
Corporate bonds		17		400		—		417
Asset-backed securities and other		—		17		—		17
	$	2,370	$	1,430	$	—	$	3,800
December 31, 2010
Cash	$	103	$	—	$	—	$	103
Bank deposits		455		—		—		455
Money market funds		641		—		—		641
U.S. treasury and and agency obligations		1,950		—		—		1,950
Commercial paper		—		782		—		782
Corporate bonds		20		107		—		127
	$	3,169	$	889	$	—	$	4,058

     There were no transfers between Level 1, Level 2 or Level 3 securities in the six months ended June 30, 2011. All of our long-term marketable securities had maturities of between one and three years in duration at June 30, 2011. As of June 30, 2011, we have approximately $1.78 billion of cash, cash equivalents, and short-term investments held by our foreign subsidiaries.

     At June 30, 2011 we had 100 investments that were in an unrealized loss position for less than 12 months. Our gross unrealized losses were less than one million dollars and were due to changes in interest rates. We have determined that the gross unrealized losses on these investments at June 30, 2011 are temporary in nature. We evaluate securities for other-than-temporary impairment on a quarterly basis. Impairment is evaluated considering numerous factors, and their relative significance varies depending on the situation. Factors considered include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the issuer, and our intent and ability to hold the investment in order to allow for an anticipated recovery in fair value.