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

9 Months Ended

Sep. 30, 2013

Details of our investments are as follows:



	September 30, 2013						December 31, 2012
	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 securities
Money market funds	$	582	$	—	$	—	$	211	$	—	$	—
Corporate obligations	75		317		—		188		325		—
U.S. Government agency and Treasury securities	680		1,841		—		795		2,224		—
Trading securities
Mutual funds	—		—		168		—		—		159
Total	$	1,337	$	2,158	$	168	$	1,194	$	2,549	$	159

Other measurement basis:
Equity-method investments	$	—	$	—	$	24	$	—	$	—	$	34
Cost-method investments	—		—		18		—		—		22
Cash on hand	98		—		—		222		—		—
Total	$	1,435	$	2,158	$	210	$	1,416	$	2,549	$	215

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

The following table presents the aggregate maturities of investments in debt securities classified as available for sale at September 30, 2013:



Due	Fair Value
One year or less	$	3,230
One to three years	265

Assets and Liabilities Accounted for at Fair Value

The following are our assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2013, and December 31, 2012. For these periods, we had no Level 3 assets or liabilities. 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
	September 30, 2013		Level 1		Level 2
Assets:
Money market funds	$	582	$	582	$	—
Corporate obligations	392		—		392
U.S. Government agency and Treasury securities	2,521		1,667		854
Mutual funds	168		168		—
Total assets	$	3,663	$	2,417	$	1,246

Liabilities:
Deferred compensation	$	186	$	186	$	—
Total liabilities	$	186	$	186	$	—



	Fair Value
	December 31, 2012		Level 1		Level 2
Assets:
Money market funds	$	211	$	211	$	—
Corporate obligations	513		—		513
U.S. Government agency and Treasury securities	3,019		1,145		1,874
Mutual funds	159		159		—
Total assets	$	3,902	$	1,515	$	2,387

Liabilities:
Deferred compensation	$	174	$	174	$	—
Total liabilities	$	174	$	174	$	—

Reconciliation of Change in Fair Value for Level 3 Assets

The following table summarizes the change in the fair values for Level 3 assets:



	Level 3
Changes in fair value during the period (pre-tax):	Auction-rate Securities
Balance, December 31, 2011	$	134
Change in unrealized loss – included in AOCI	13
Redemptions	(84		)
Sales	(63		)
Balance, September 30, 2012	$	—

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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