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

12 Months Ended

Dec. 31, 2013

Details of our investments are as follows:



	December 31, 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	$	500	$	—	$	—	$	211	$	—	$	—
Corporate obligations	123		217		—		188		325		—
U.S. Government agency and Treasury securities	787		1,985		—		795		2,224		—
Trading securities
Mutual funds	—		—		179		—		—		159
Total	1,410		2,202		179		1,194		2,549		159

Other measurement basis:
Equity-method investments	—		—		24		—		—		34
Cost-method investments	—		—		13		—		—		22
Cash on hand	217		—		—		222		—		—
Total	$	1,627	$	2,202	$	216	$	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

December 31, 2013:



Due	Fair Value
One year or less	$	3,472
One to three years	140

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 December 31, 2013 and 2012. We had no Level 3 assets or liabilities as of December 31, 2013 or 2012. 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 December 31, 2013		Level 1		Level 2
Assets
Money market funds	$	500	$	500	$	—
Corporate obligations	340		—		340
U.S. Government agency and Treasury securities	2,772		2,107		665
Mutual funds	179		179		—
Total assets	$	3,791	$	2,786	$	1,005

Liabilities
Deferred compensation	$	197	$	197	$	—
Total liabilities	$	197	$	197	$	—



	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, reflecting the sale of our remaining investments in auction-rate securities in the third quarter of 2012:



	Level 3
	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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