Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments (Tables)

v2.4.0.6
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2012
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]  
Available-For-Sale Securities
 
June 30,
2012
 
December 31,
2011
 
(In millions)
Fair Value
 
 
 
Classified as cash equivalents:
 
 
 
Money market funds
$
294

 
$
738

Commercial paper
350

 
1

U.S. Treasury and U.S. Agency Notes
250

 
—

Total classified as cash equivalents
$
894

 
$
739

Classified as current marketable securities:
 
 
 
Commercial paper
$
406

 
$
698

U.S. Treasury and U.S. Agency Notes
50

 
—

Time deposits
75

 
160

Auction rate securities
32

 
38

Marketable equity securities
1

 
—

Total classified as current marketable securities
$
564

 
$
896

Classified as long-term marketable securities:
 
 
 
Money market funds
$
1

 
$
9

Corporate bonds
179

 
140

Total classified as long-term marketable securities
$
180

 
$
149

Classified as other assets:
 
 
 
Money market funds
$
10

 
$
10

Total classified as other assets
$
10

 
$
10

Schedule Of Financial Instruments Measured And Recorded At Fair Value On Recurring Basis
 
 
 
Fair value measurement at reporting dates using
 
Total      
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Other
  Observable  
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
(In millions)
June 30, 2012
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Classified as cash equivalents:
 
 
 
 
 
 
 
Money market funds
$
294

 
$
294

 
$
—

 
$
—

Commercial paper
350

 
—

 
350

 
—

U.S. Treasury and U.S. Agency Notes
250

 
—

 
250

 
—

Total classified as cash equivalents
$
894

 
$
294

 
$
600

 
$
—

Classified as current marketable securities:
 
 
 
 
 
 
 
Commercial paper
$
406

 
$
—

 
$
406

 
$
—

U.S. Treasury and U.S. Agency Notes
50

 
—

 
50

 
—

Time deposits
75

 
—

 
75

 
—

Auction rate securities
32

 
—

 
—

 
32

Marketable equity securities
1

 
1

 
—

 
—

Total classified as current marketable securities
$
564

 
$
1

 
$
531

 
$
32

Classified as long-term marketable securities:
 
 
 
 
 
 
 
Money market funds
$
1

 
$
1

 
$
—

 
$
—

Corporate bonds
179

 
—

 
179

 
—

Total classified as long-term marketable securities
$
180

 
$
1

 
$
179

 
$
—

Classified as other assets:
 
 
 
 
 
 
 
Money market funds
$
10

 
$
10

 
$
—

 
$
—

Total classified as other assets
$
10

 
$
10

 
$
—

 
$
—

 
 
 
 
 
 
 
 
Total assets measured at fair value
$
1,648

 
$
306

 
$
1,310

 
$
32

 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Classified as accrued liabilities - Foreign currency derivative contracts
$
(1
)
 
$
—

 
$
(1
)
 
$
—

Total liabilities measured at fair value
$
(1
)
 
$
—

 
$
(1
)
 
$
—

 
 
 
 
 
 
 
 
December 31, 2011
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Classified as cash equivalents:
 
 
 
 
 
 
 
Money market funds
$
738

 
$
738

 
$
—

 
$
—

Commercial paper
1

 
—

 
1

 
—

Total classified as cash equivalents
$
739

 
$
738

 
$
1

 
$
—

Classified as current marketable securities:
 
 
 
 
 
 
 
Commercial paper
$
698

 
$
—

 
$
698

 
$
—

Time deposits
160

 
—

 
160

 
—

Auction rate securities
38

 
—

 
—

 
38

Total classified as current marketable securities
$
896

 
$
—

 
$
858

 
$
38

Classified as long-term marketable securities:
 
 
 
 
 
 
 
Money market funds
$
9

 
$
9

 
$
—

 
$
—

Corporate bonds
140

 
—

 
140

 
—

Total classified as long-term marketable securities
$
149

 
$
9

 
$
140

 
$
—

Classified as other assets:
 
 
 
 
 
 
 
Money market funds
$
10

 
$
10

 
$
—

 
$
—

Total classified as other assets
$
10

 
$
10

 
$
—

 
$
—

Total assets measured at fair value
$
1,794

 
$
757

 
$
999

 
$
38

 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Classified as accrued liabilities - Foreign currency derivative contracts
$
(2
)
 
$
—

 
$
(2
)
 
$
—

Total liabilities measured at fair value
$
(2
)
 
$
—

 
$
(2
)
 
$
—


W
Schedule Of Significant Inputs And Assumptions Used To Determine Fair Value Of Available-For-Sale Securities
 
Quarter Ended
 
June 30,
2012
 
December 31,
2011
Discount rate for periodic interest payments
1.07
%
 
1.13
%
Discount rate for principal repayments
1.66
%
 
1.93
%
Liquidity discount
0.90
%
 
0.90
%
Credit discount
2.00
%
 
2.00
%
Estimated period (years)
17

 
17

Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments Not Recorded At Fair Value
 
June 30, 2012
 
December 31, 2011
 
Carrying
amount
 
Estimated
Fair Value
 
Carrying
amount
 
Estimated
Fair Value
 
(In millions)
Short-term debt (excluding capital leases)
$
485

 
$
487

 
$
485

 
$
490

Long-term debt (excluding capital leases)
$
1,512

 
$
1,689

 
$
1,505

 
$
1,619