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Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2014
Investments All Other Investments [Abstract]  
Schedule of Cash, Cash Equivalents and Marketable Securities

The following tables show our cash and available-for-sale securities’ amortized cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category recorded as cash and cash equivalents or short and long-term marketable securities as of December 31, 2014 and December 31, 2013 (in millions):

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and

 

 

Short-Term

 

 

Long-Term

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

Cash

 

 

Marketable

 

 

Marketable

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

Equivalents

 

 

Securities

 

 

Securities

 

Cash

 

$

447

 

 

$

 

 

$

 

 

$

447

 

 

$

447

 

 

$

 

 

$

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

8

 

 

 

 

 

 

 

 

 

8

 

 

 

8

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. agency securities

 

 

38

 

 

 

 

 

 

 

 

 

38

 

 

 

 

 

 

35

 

 

 

3

 

Certificates of deposit

 

 

8

 

 

 

 

 

 

 

 

 

8

 

 

 

 

 

 

8

 

 

 

 

Commercial paper

 

 

1

 

 

 

 

 

 

 

 

 

1

 

 

 

 

 

 

1

 

 

 

 

Corporate debt securities

 

 

92

 

 

 

 

 

 

 

 

 

92

 

 

 

 

 

 

64

 

 

 

28

 

Subtotal

 

 

139

 

 

 

 

 

 

 

 

 

139

 

 

 

 

 

 

108

 

 

 

31

 

Total

 

$

594

 

 

$

 

 

$

 

 

$

594

 

 

$

455

 

 

$

108

 

 

$

31

 

 

 

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and

 

 

Short-Term

 

 

Long-Term

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

Cash

 

 

Marketable

 

 

Marketable

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

Equivalents

 

 

Securities

 

 

Securities

 

Cash

 

$

195

 

 

$

 

 

$

 

 

$

195

 

 

$

195

 

 

$

 

 

$

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

156

 

 

 

 

 

 

 

 

 

156

 

 

 

156

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. agency securities

 

 

37

 

 

 

 

 

 

 

 

 

37

 

 

 

 

 

 

14

 

 

 

23

 

Certificates of deposit

 

 

23

 

 

 

 

 

 

 

 

 

23

 

 

 

 

 

 

16

 

 

 

7

 

Commercial paper

 

 

5

 

 

 

 

 

 

 

 

 

5

 

 

 

 

 

 

5

 

 

 

 

Corporate debt securities

 

 

254

 

 

 

 

 

 

 

 

 

254

 

 

 

 

 

 

96

 

 

 

158

 

Subtotal

 

 

319

 

 

 

 

 

 

 

 

 

319

 

 

 

 

 

 

131

 

 

 

188

 

Total

 

$

670

 

 

$

 

 

$

 

 

$

670

 

 

$

351

 

 

$

131

 

 

$

188

 

 

Fair Value and Notional Principal Amounts of Outstanding or Unsettled Derivative Instruments

The following table shows the notional principal amounts of our outstanding derivative instruments that are not designated as hedging instruments for the periods presented:

 

 

December 31,

2014

 

 

December 31,

2013

 

 

 

(in millions)

 

Foreign exchange-forward contracts (1)(2)

 

$

20

 

 

$

5

 

 

 

 

(1)

Derivative contracts address foreign exchange fluctuations for the Euro versus the U.S. Dollar.

(2)

The fair value of our derivatives are not material for all periods presented and are reported as liabilities in accrued and other current liabilities on our consolidated balance sheets. We measure the fair value of our outstanding or unsettled derivatives using Level 2 fair value inputs, as we use a pricing model that takes into account the contract terms as well as current foreign currency exchange rates in active markets.