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

9 Months Ended

Sep. 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:

	Sept. 30, 2011						Dec. 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	$	506	$	—	$	—	$	167	$	—	$	—
Corporate obligations	300		166		—		44		649		—
U.S. government agency and Treasury securities	344		799		—		855		1,081		—
Auction-rate securities	—		—		42		—		23		257
Trading
Auction-rate securities	—		72		94		—		—		—
Mutual funds	—		—		158		—		—		139
Total	$	1,150	$	1,037	$	294	$	1,066	$	1,753	$	396
Other measurement basis:
Equity method investments	$	—	$	—	$	34	$	—	$	—	$	36
Cost method investments	—		—		22		—		—		21
Cash on hand	431		—		—		253		—		—
Total	$	1,581	$	1,037	$	350	$	1,319	$	1,753	$	453
Amounts included in AOCI from available-for-sale securities:
Unrealized gains (pre-tax)	$	—	$	—	$	—	$	—	$	1	$	—
Unrealized losses (pre-tax)	$	—	$	—	$	4	$	—	$	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 September 30, 2011:

Due	Fair Value
One year or less	$	1,947
One to three years	168
Greater than three years	42

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 September 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 Sept. 30, 2011		Level 1		Level 2		Level 3
Assets:
Money market funds	$	506	$	506	$	—	$	—
Corporate obligations	466		—		466		—
U.S. government agency and Treasury securities	1,143		380		763		—
Auction-rate securities	208		—		—		208
Mutual funds	158		158		—		—
Total assets	$	2,481	$	1,044	$	1,229	$	208
Liabilities (a):
Deferred compensation	180		180		—		—
Total liabilities	$	180	$	180	$	—	$	—

	Fair Value Dec. 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	—			(2		)
Reduction in unrealized loss - included in AOCI	5			—
Redemptions	(103		)	—
Transfers into Level 2	(29		)	—
Ending Balance, September 30, 2010	331			16
Change in fair value of contingent consideration - included in operating profit	—			(8		)
Reduction in unrealized loss - included in AOCI	5			—
Redemptions	(85		)	—
Transfers into Level 2	6			—
Ending Balance, December 31, 2010	257			8
Change in fair value of contingent consideration - included in operating profit	—			(8		)
Increase in unrealized loss - included in AOCI	(1		)	—
Redemptions and sales	(48		)	—
Ending Balance, September 30, 2011	$	208		$	—