v2.3.0.15

Fair Value and Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2011
Fair Value Measurements and Financial Instruments |
Schedule of assets and liabilities that are measured at fair value on a recurring basis |
|  |  |  | Fair Value Measurements Using |
|  |  |  | Quoted Prices in |  | Significant |  | Significant |
|  |  |  | Active Markets |  | Other |  | Unobservable |
|  | Balance at |  | for Identical |  | Observable |  | Inputs |
|  | September 30, 2011 |  | Assets (Level 1) |  | Inputs (Level 2) |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |
Money market funds and highly liquid debt securities (1) |  | $ | 2,500 |  | $ | 2,450 |  | $ | 50 |  | $ | — |
Other investments |  |  |  |  |  |  |  |  |
Fixed maturity securities |  |  |  |  |  |  |  |  |
Corporate bonds |  | 12 |  | — |  | — |  | 12 |
Government bonds |  | 3 |  | — |  | 3 |  | — |
Derivatives |  |  |  |  |  |  |  |  |
Interest rate contracts |  | 15 |  | — |  | 15 |  | — |
Foreign exchange contracts |  | 137 |  | — |  | 137 |  | — |
Liabilities: |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | 180 |  | — |  | 180 |  | — |
(1) Includes $2,450 million of money market funds and $50 million of highly liquid debt securities that are classified as fiduciary assets, short-term investments or cash equivalents in the condensed consolidated statements of financial position, depending on their nature and initial maturity. See Note 8 “Investments” for additional information regarding the Company’s investments.
|  |  |  | Fair Value Measurements Using |
|  |  |  | Quoted Prices in |  | Significant |  | Significant |
|  |  |  | Active Markets |  | Other |  | Unobservable |
|  | Balance at |  | for Identical |  | Observable |  | Inputs |
|  | December 31, 2010 |  | Assets (Level 1) |  | Inputs (Level 2) |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |
Money market funds and highly liquid debt securities (1) |  | $ | 2,618 |  | $ | 2,591 |  | $ | 27 |  | $ | — |
Other investments |  |  |  |  |  |  |  |  |
Fixed maturity securities |  |  |  |  |  |  |  |  |
Corporate bonds |  | 12 |  | — |  | — |  | 12 |
Government bonds |  | 3 |  | — |  | 3 |  | — |
Derivatives |  |  |  |  |  |  |  |  |
Interest rate contracts |  | 15 |  | — |  | 15 |  | — |
Foreign exchange contracts |  | 159 |  | — |  | 159 |  | — |
Liabilities: |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | 158 |  | — |  | 158 |  | — |
(1) Includes $2,591 million of money market funds and $27 million of highly liquid debt securities that are classified as fiduciary assets, short-term investments or cash equivalents in the condensed consolidated statements of financial position, depending on their nature and initial maturity. See Note 8 “Investments” for additional information regarding the Company’s investments.
Schedule of changes in the Level 3 fair-value category |
|  | Three months ended September 30, |  | Nine months ended September 30, |
|  | 2011 |  | 2010 |  | 2011 |  | 2010 |
|  | Other Investments |  | Other Investments |  | Other Investments |  | Other Investments |
Balance at beginning of period |  | $ | 12 |  | $ | 21 |  | $ | 12 |  | $ | 100 |
Total gains (losses): |  |  |  |  |  |  |  |  |
Included in earnings |  | — |  | — |  | — |  | — |
Included in other comprehensive income |  | — |  | 1 |  | — |  | — |
Purchases |  | — |  | — |  | — |  | — |
Sales |  | — |  | (10 | ) | — |  | (1 | )
Transfers (1) |  | — |  | — |  | — |  | (87 | )
Balance at end of period |  | $ | 12 |  | $ | 12 |  | $ | 12 |  | $ | 12 |
(1) Transfers represent the removal of the investment in PEPS I preferred stock as a result of consolidating PEPS I on January 1, 2010.
Schedule of financial instruments where the carrying amounts and fair values differ |
|  | September 30, 2011 |  | December 31, 2010 |
|  | Carrying |  | Fair |  | Carrying |  | Fair |
|  | Value |  | Value |  | Value |  | Value |
Long-term debt |  | $ | 4,415 |  | $ | 4,685 |  | $ | 4,014 |  | $ | 4,172 |

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- Definition This element represents, for the fair value measurement of assets and liabilities 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 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, issuances, and settlements (net); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs). + Details
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- Definition This element represents the disclosure related to assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + Details
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- Definition This item represents certain of the disclosures concerning the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph a, c(1), c(2), c(3), d Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph c(2), d, e, f Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 19 -Subparagraph a, b, c(1), d(1) Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 14 -Subparagraph a Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15 -Subparagraph b-d + Details
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