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INVESTMENTS AND RESTRICTED CASH (Tables) | 9 Months Ended
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Sep. 30, 2017
Marketable Securities [Abstract] |
Available-for-sale Securities | The following is a summary of marketable securities classified as trading and available-for-sale as of September 30, 2017 and December 31, 2016 (in millions):
| Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
September 30, 2017: |  |  |  |  |  |  |
Current trading marketable securities: |  |  |  |  |  |  |
Corporate debt securities | $ | 159 |  |  | $ | — |  |  | $ | — |  |  | $ | 159 |
Carbon credit investments (1) | 241 |  |  | 46 |  |  | — |  |  | 287 |
Total trading marketable securities | $ | 400 |  |  | $ | 46 |  |  | $ | — |  |  | $ | 446 |
Current available-for-sale securities: |  |  |  |  |  |  |
U.S. government and agency debt securities | $ | 286 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 285 |
Mortgage and asset-backed debt securities | 90 |  |  | — |  |  | — |  |  | 90 |
Corporate debt securities | 210 |  |  | 1 |  |  | — |  |  | 211 |
U.S. state and local municipal debt securities | — |  |  | — |  |  | — |  |  | — |
Equity securities | 2 |  |  | — |  |  | — |  |  | 2 |
Non-U.S. government debt securities | 9 |  |  | — |  |  | — |  |  | 9 |
Total available-for-sale marketable securities | $ | 597 |  |  | $ | 1 |  |  | $ | (1 | ) |  | $ | 597 |
Total current marketable securities | $ | 997 |  |  | $ | 47 |  |  | $ | (1 | ) |  | $ | 1,043 |
| Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
December 31, 2016: |  |  |  |  |  |  |
Current trading marketable securities: |  |  |  |  |  |  |
Corporate debt securities | $ | 427 |  |  | $ | — |  |  | $ | — |  |  | $ | 427 |
Carbon credit investments (1) | 80 |  |  | 10 |  |  | — |  |  | 90 |
Total trading marketable securities | $ | 507 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 517 |
Current available-for-sale securities: |  |  |  |  |  |  |
U.S. government and agency debt securities | $ | 314 |  |  | $ | — |  |  | $ | (2 | ) |  | $ | 312 |
Mortgage and asset-backed debt securities | 90 |  |  | 1 |  |  | — |  |  | 91 |
Corporate debt securities | 167 |  |  | — |  |  | (1 | ) |  | 166 |
Equity securities | 2 |  |  | — |  |  | — |  |  | 2 |
Non-U.S. government debt securities | 3 |  |  | — |  |  | — |  |  | 3 |
Total available-for-sale marketable securities | $ | 576 |  |  | $ | 1 |  |  | $ | (3 | ) |  | $ | 574 |
Total current marketable securities | $ | 1,083 |  |  | $ | 11 |  |  | $ | (3 | ) |  | $ | 1,091 |
(1) These investments are hedged with forward contracts that are not designated in hedging relationships. See Note 13 for offsetting statement of consolidated income impact.
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of marketable securities at September 30, 2017, by contractual maturity, are shown below (in millions). Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.
| Cost |  | Estimated Fair Value
Due in one year or less | $ | 218 |  |  | $ | 218 |
Due after one year through three years | 443 |  |  | 442 |
Due after three years through five years | 18 |  |  | 18 |
Due after five years | 75 |  |  | 76 |
| 754 |  |  | 754 |
Equity and carbon credit investments | 243 |  |  | 289 |
| $ | 997 |  |  | $ | 1,043 |
Fair Value, Assets Measured on Recurring Basis | The following table presents information about our investments measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions):
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Balance
September 30, 2017: |  |  |  |  |  |  |
Marketable Securities: |  |  |  |  |  |  |
U.S. government and agency debt securities | $ | 285 |  |  | $ | — |  |  | $ | — |  |  | $ | 285 |
Mortgage and asset-backed debt securities | — |  |  | 90 |  |  | — |  |  | 90 |
Corporate debt securities | 21 |  |  | 349 |  |  | — |  |  | 370 |
Equity securities | — |  |  | 2 |  |  | — |  |  | 2 |
Non-U.S. government debt securities | — |  |  | 9 |  |  | — |  |  | 9 |
Carbon credit investments | 287 |  |  | — |  |  | — |  |  | 287 |
Total marketable securities | 593 |  |  | 450 |  |  | — |  |  | 1,043 |
Other non-current investments | 19 |  |  | — |  |  | 8 |  |  | 27 |
Total | $ | 612 |  |  | $ | 450 |  |  | $ | 8 |  |  | $ | 1,070 |
December 31, 2016: |  |  |  |  |  |  |
Marketable Securities: |  |  |  |  |  |  |
U.S. government and agency debt securities | $ | 312 |  |  | $ | — |  |  | $ | — |  |  | $ | 312 |
Mortgage and asset-backed debt securities | — |  |  | 91 |  |  | — |  |  | 91 |
Corporate debt securities | — |  |  | 593 |  |  | — |  |  | 593 |
Equity securities | — |  |  | 2 |  |  | — |  |  | 2 |
Non-U.S. government debt securities | — |  |  | 3 |  |  | — |  |  | 3 |
Carbon credit investments | 90 |  |  | — |  |  | — |  |  | 90 |
Total marketable securities | 402 |  |  | 689 |  |  | — |  |  | 1,091 |
Other non-current investments | 18 |  |  | — |  |  | 13 |  |  | 31 |
Total | $ | 420 |  |  | $ | 689 |  |  | $ | 13 |  |  | $ | 1,122 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table presents the changes in the above Level 3 instruments measured on a recurring basis for the three months ended September 30, 2017 and 2016 (in millions):
| Marketable Securities |  | Other Non-Current Investments |  | Total
Balance on July 1, 2017 | $ | — |  |  | $ | 9 |  |  | $ | 9 |
Transfers into (out of) Level 3 | — |  |  | — |  |  | — |
Net realized and unrealized gains (losses): |  |  |  |  |
Included in earnings (in investment income and other) | — |  |  | (1 | ) |  | (1 | )
Included in accumulated other comprehensive income (pre-tax) | — |  |  | — |  |  | — |
Purchases | — |  |  | — |  |  | — |
Sales | — |  |  | — |  |  | — |
Balance on September 30, 2017 | $ | — |  |  | $ | 8 |  |  | $ | 8 |
| Marketable Securities |  | Other Non-Current Investments |  | Total
Balance on July 1, 2016 | $ | — |  |  | $ | 22 |  |  | $ | 22 |
Transfers into (out of) Level 3 | — |  |  | — |  |  | — |
Net realized and unrealized gains (losses): |  |  |  |  |
Included in earnings (in investment income and other) | — |  |  | (4 | ) |  | (4 | )
Included in accumulated other comprehensive income (pre-tax) | — |  |  | — |  |  | — |
Purchases | — |  |  | — |  |  | — |
Sales | — |  |  | — |  |  | — |
Balance on September 30, 2016 | $ | — |  |  | $ | 18 |  |  | $ | 18 |
The following table presents the changes in the above Level 3 instruments measured on a recurring basis for the nine months ended September 30, 2017 and 2016 (in millions):
| Marketable Securities |  | Other Investments |  | Total
Balance on January 1, 2017 | $ | — |  |  | 13 |  |  | 13 |
Transfers into (out of) Level 3 | — |  |  | — |  |  | — |
Net realized and unrealized gains (losses): |  |  |  |  |
Included in earnings (in investment income and other) | — |  |  | (5 | ) |  | (5 | )
Included in accumulated other comprehensive income (pre-tax) | — |  |  | — |  |  | — |
Purchases | — |  |  | — |  |  | — |
Sales | — |  |  | — |  |  | — |
Balance on September 30, 2017 | $ | — |  |  | $ | 8 |  |  | $ | 8 |
| Marketable Securities |  | Other Investments |  | Total
Balance on January 1, 2016 | $ | — |  |  | 32 |  |  | 32 |
Transfers into (out of) Level 3 | — |  |  | — |  |  | — |
Net realized and unrealized gains (losses): |  |  |  |  |
Included in earnings (in investment income and other) | — |  |  | (14 | ) |  | (14 | )
Included in accumulated other comprehensive income (pre-tax) | — |  |  | — |  |  | — |
Purchases | — |  |  | — |  |  | — |
Sales | — |  |  | — |  |  | — |
Balance on September 30, 2016 | $ | — |  |  | $ | 18 |  |  | $ | 18 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66010992&loc=d3e26626-111562 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.4) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27232-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66010992&loc=d3e26610-111562 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2,12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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