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Fair value measurements (Tables)
3 Months Ended
Mar. 31, 2015
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]  
Schedule of Fair Value Classified by Level of Input
The following table summarizes the assets and liabilities measured at fair value on a recurring basis, by level, within the fair value hierarchy (in millions):
 
March 31, 2015
 
December 31, 2014
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
$
7,683

 
$

 
$

 
$
7,683

 
$
7,926

 
$

 
$

 
$
7,926

Corporate debt securities

 
1,888

 

 
1,888

 

 
938

 

 
938

U.S. treasury securities
1,342

 

 

 
1,342

 
363

 

 

 
363

Residential mortgage and asset-backed securities

 
516

 

 
516

 

 
269

 

 
269

U.S. government agencies securities

 
210

 

 
210

 

 
113

 

 
113

Certificates of deposit

 
71

 

 
71

 

 

 

 

Non-U.S. government securities

 
37

 

 
37

 

 

 

 

Municipal debt securities

 
27

 

 
27

 

 
16

 

 
16

Foreign currency derivative contracts

 
607

 

 
607

 

 
349

 

 
349

Deferred compensation plan
61

 

 

 
61

 
54

 

 

 
54

 
$
9,086

 
$
3,356

 
$

 
$
12,442

 
$
8,343

 
$
1,685

 
$

 
$
10,028

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Contingent consideration
$

 
$

 
$
135

 
$
135

 
$

 
$

 
$
133

 
$
133

Deferred compensation plan
61

 

 

 
61

 
54

 

 

 
54

Foreign currency derivative contracts

 
9

 

 
9

 

 

 

 

 
$
61

 
$
9

 
$
135

 
$
205

 
$
54

 
$

 
$
133

 
$
187

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The fair values of our convertible senior notes and senior unsecured notes were determined using Level 2 inputs based on their quoted market values. The following table summarizes the carrying values and fair values of our convertible senior notes and senior unsecured notes (in millions):
 
 
 
 
March 31, 2015
 
December 31, 2014
Type of Borrowing
 
Description
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Convertible Senior
 
May 2016 Notes
 
$
442

 
$
1,971

 
$
483

 
$
2,097

Senior Unsecured
 
April 2021 Notes
 
995

 
1,166

 
995

 
1,108

Senior Unsecured
 
December 2016 Notes
 
700

 
725

 
700

 
727

Senior Unsecured
 
December 2021 Notes
 
1,248

 
1,400

 
1,248

 
1,377

Senior Unsecured
 
December 2041 Notes
 
998

 
1,271

 
998

 
1,229

Senior Unsecured
 
April 2019 Notes
 
499

 
507

 
499

 
500

Senior Unsecured
 
April 2024 Notes
 
1,747

 
1,865

 
1,747

 
1,836

Senior Unsecured
 
April 2044 Notes
 
1,747

 
2,016

 
1,747

 
1,954

Senior Unsecured
 
February 2020 Notes
 
499

 
514

 
499

 
504

Senior Unsecured
 
February 2025 Notes
 
1,748

 
1,851

 
1,748

 
1,797

Senior Unsecured
 
February 2045 Notes
 
1,740

 
1,947

 
1,740

 
1,872