Marketable Securities

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable Securities

	Cost		Unrealized Gains		Unrealized Losses			Fair Value
	(In millions)
September 30, 2014
United States government obligations
Maturity less than 1 year	$	282	$	—	$	—		$	282
Maturity 1 to 5 years	90		—		—			90
Government–sponsored enterprise obligations
Maturity 1 to 5 years	1		—		—			1
Corporate debt securities
Maturity 1 to 5 years	74		—		—			74
Other debt securities
Maturity less than 1 year	66		—		—			66
Maturity 1 to 5 years	3		—		—			3
Equity securities
Available-for-sale	355		2		(7		)	350
	$	871	$	2	$	(7	)	$	866

	Cost		Unrealized Gains		Unrealized Losses			Fair Value
	(In millions)
December 31, 2013
United States government obligations
Maturity less than 1 year	$	395	$	—	$	—		$	395
Maturity 1 to 5 years	124		—		—			124
Government–sponsored enterprise obligations
Maturity 1 to 5 years	4		—		—			4
Corporate debt securities
Maturity 1 to 5 years	16		—		—			16
Other debt securities
Maturity less than 1 year	38		—		—			38
Maturity 1 to 5 years	3		—		—			3
Equity securities
Available-for-sale	362		1		(2		)	361
	$	942	$	1	$	(2	)	$	941

Of the $7 million in unrealized losses at September 30, 2014, $5 million arose within the last 12 months and is related to the Company’s investment in oneavailable-for-sale equitysecurity with a fair value of $6 million.  The market value of the Company’s investment that has been in an unrealized loss position for 12 months or longer is $4 million and is related to one available-for-sale equity 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, 2014.