Note 5.

Marketable Securities and Cash Equivalents


				Unrealized		Unrealized			Fair
	Cost			Gains		Losses			Value
	(In millions)
September 30, 2011

United States government obligations
Maturity less than 1 year		$	468	$	–	$	–		$	468
Maturity 1 to 5 years			61		1		–			62
Corporate debt securities
Maturity 1 to 5 years			66		–		(1	)		65
Other debt securities
Maturity less than 1 year			950		–		–			950
Maturity 1 to 5 years			4		–		–			4
Equity securities
Available-for-sale			157		30		(34	)		153
Trading			22		–		–			22
		$	1,728	$	31	$	(35	)	$	1,724


				Unrealized		Unrealized			Fair
	Cost			Gains		Losses			Value
		(In millions)
June 30, 2011

United States government obligations
Maturity less than 1 year		$	753	$	–	$	–		$	753
Maturity 1 to 5 years			72		1		–			73
Government–sponsored enterprise obligations
Maturity less than 1 year			20		–		–			20
Maturity 1 to 5 years			54		–		–			54
Maturity 5 to 10 years			5		–		–			5
Maturity greater than 10 years			218		8		–			226
Corporate debt securities
Maturity less than 1 year			1		–		–			1
Maturity 1 to 5 years			35		1		–			36
Other debt securities
Maturity less than 1 year			215		–		–			215
Maturity 1 to 5 years			3		–		–			3
Maturity 5 to 10 years			7		–		–			7
Equity securities
Available-for-sale			159		83		(4	)		238
Trading			24		–		–			24
		$	1,566	$	93	$	(4	)	$	1,655

All of the $35 million in unrealized losses at September 30, 2011 arose within the last 6 months. The market value of the investments that have been in an unrealized loss position for less than 12 months is $164 million. The market value of corporate debt securities with unrealized losses as of September 30, 2011 is $50 million. The $1 million in unrealized losses associated with corporate debt securities is not considered to be other-than-temporary because the expected cash flows to be collected is equivalent to or exceeds the amortized cost basis of the securities. The market value of available-for-sale equity securities with unrealized losses as of September 30, 2011 is $114 million. Of the $34 million in unrealized losses associated with available-for-sale equity securities, $20 million is related to the Company's investment in one security. The Company evaluated the near-term prospects of the issuers in relation to the severity and duration of the impairment. Based on that evaluation and the Company's ability and intent to hold these investments for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company does not consider these investments to be other-than-temporarily impaired at September 30, 2011.