FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Measurements Table [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The fair values of derivative financial instruments classified as assets and liabilities as of September 30, 2013 and December 31, 2012 were as follows (in millions):

		September 30, 2013							December 31, 2012
				Fair Value Measurements						Fair Value Measurements
		Fair Value		Level 2		Level 3		Fair Value		Level 2		Level 3
Assets:
Interest rate swaps		$	166	$	166	$	—	$	295	$	295	$	—
Cross-currency swaps			252		252		—		112		112		—
Total		$	418	$	418	$	—	$	407	$	407	$	—

Liabilities:
Interest rate swaps		$	31	$	31	$	—	$	1	$	1	$	—
Equity award
	reimbursement
	obligation		12		—		12		19		—		19
Total		$	43	$	31	$	12	$	20	$	1	$	19

Schedule of Changes in Liabilities Measured at Fair Value Using Significant Unobservable Inputs

Changes in the fair value of the equity award reimbursement obligation, valued using significant unobservable inputs (Level 3), from January 1 through September 30 are presented below (in millions):

	2013		2012
Balance at beginning of period	$	19	$	22
Losses recognized in other income, net		8		5
Payments to Time Warner for awards exercised		(15)		(4)
Balance at end of period	$	12	$	23

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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