Valuation of debt and equity investments and certain liabilities (Tables)

6 Months Ended

Jun. 30, 2011

Valuation of debt and equity investments and certain liabilities [Abstract]

Investments and Unrealized Gains and Losses

Details of our investments and related unrealized gains and losses included in AOCI are as follows:

	June 30, 2011						December 31, 2010
	Cash and Cash Equivalents		Short-Term Investments		Long-Term Investments		Cash and Cash Equivalents		Short-Term Investments		Long-Term Investments
Measured at fair value:
Available-for-sale
Money market funds	$	434	$	—	$	—	$	167	$	—	$	—
Corporate obligations	795		270		—		44		649		—
U.S. government agency and Treasury securities	3,018		1,556		—		855		1,081		—
Auction-rate securities	—		—		44		—		23		257
Trading
Auction-rate securities	—		73		94		—		—		—
Mutual funds	—		—		134		—		—		139
Total	$	4,247	$	1,899	$	272	$	1,066	$	1,753	$	396
Other measurement basis:
Equity method investments	—		—		40		—		—		36
Cost method investments	—		—		22		—		—		21
Cash on hand	254		—		—		253		—		—
Total	$	4,501	$	1,899	$	334	$	1,319	$	1,753	$	453
Amounts included in AOCI from available-for-sale securities:
Unrealized gains (pre-tax)	$	—	$	1	$	—	$	—	$	1	$	—
Unrealized losses (pre-tax)	$	—	$	—	$	2	$	—	$	1	$	22

Aggregate Maturities of Investments in Debt Securities Classified as Available-for-sale

The following table presents the aggregate maturities of investments in money market funds and other debt securities classified as available-for-sale at June 30, 2011:

Due	Fair Value
One year or less	$	5,826
One to three years	247
Greater than three years	44

Assets and Liabilities Accounted for at Fair Value

The following are our assets and liabilities that are accounted for at fair value on a recurring basis as of June 30, 2011 and December 31, 2010.  These tables do not include cash on hand, assets held by our postretirement plans or assets and liabilities that are measured at historical cost or any basis other than fair value.

	Fair Value June 30, 2011		Level 1		Level 2		Level 3
Assets:
Money market funds	$	434	$	434	$	—	$	—
Corporate obligations	1,065		—		1,065		—
U.S. government agency and Treasury securities	4,574		3,613		961		—
Auction-rate securities	211		—		—		211
Mutual funds	134		134		—		—
Total assets	$	6,418	$	4,181	$	2,026	$	211
Liabilities (a):
Deferred compensation	155		155		—		—
Total liabilities	$	155	$	155	$	—	$	—

	Fair Value December 31, 2010		Level 1		Level 2		Level 3
Assets:
Money market funds	$	167	$	167	$	—	$	—
Corporate obligations	693		—		693		—
U.S. government agency and Treasury securities	1,936		1,120		816		—
Auction-rate securities	280		—		23		257
Mutual funds	139		139		—		—
Total assets	$	3,215	$	1,426	$	1,532	$	257
Liabilities (a):
Contingent consideration	8		—		—		8
Deferred compensation	159		159		—		—
Total liabilities	$	167	$	159	$	—	$	8

(a) The liabilities above are a component of Accrued expenses and other liabilities or Deferred credits and other liabilities on our balance sheets, depending on the expected timing of payment.

Reconciliation of Change in Fair Value for Level 3 Assets

The following table provides a reconciliation of changes in the fair values for Level 3 assets and liabilities.  

	Level 3
Changes in fair value during the period (pre-tax):	Auction-rate securities			Contingent consideration
Beginning Balance, December 31, 2009	$	458		$	18
Change in fair value of contingent consideration - included in operating profit	—			(1		)
Reduction in unrealized loss - included in AOCI	4			—
Redemptions	(68		)	—
Transfers into Level 2	(13		)	—
Ending Balance, June 30, 2010	381			17
Change in fair value of contingent consideration - included in operating profit	—			(9		)
Reduction in unrealized loss - included in AOCI	6			—
Redemptions	(120		)	—
Transfers into Level 2	(10		)	—
Ending Balance, December 31, 2010	257			8
Change in fair value of contingent consideration - included in operating profit	—			(8		)
Reduction in unrealized loss - included in AOCI	1			—
Redemptions and sales	(47		)	—
Ending Balance, June 30, 2011	$	211		$	—