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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Investment Assets | The Company's investment assets are carried at fair value on the consolidated balance sheets as summarized in the following table. All of the inputs used to determine the fair value of the Company's investments are Level 2 inputs.
|  | Fiscal Years
|  | 2020 |  |  | 2019
(Dollars in Millions) |  | Level 2 |  |  |  |  | Level 2 |  |
Corporate Bonds |  | $ | 68 |  |  |  |  |  | $ | 59 |  |  |
Government Securities |  | 33 |  |  |  |  |  | 36 |  |  |
Commercial Paper and Certificates of Deposit |  | — |  |  |  |  |  | 989 |  |  |
Total investments at fair value |  | $ | 101 |  |  |  |  |  | $ | 1,084 |  |  |
Total investments at amortized cost |  | $ | 89 |  |  |  |  |  | $ | 1,076 |  |  |
Schedule of Investment Maturities | These investments have the following maturities and are represented on the consolidated balance sheet within short-term investments for investments with maturities of less than one year, and other long-term assets for investments with maturities of one year and greater.
(Dollars in Millions) | December 2020 |  | December 2019
Less than 1 year | $ | 2 |  |  | $ | 996 |
1 - 5 years | 22 |  |  | 10 |
5 - 10 years | 23 |  |  | 25 |
Greater than 10 years | 54 |  |  | 53 |
Total investments at fair value | $ | 101 |  |  | $ | 1,084 |
Schedule of Fair Value and Carrying Value of Long-term Debt | The fair value and carrying value of the Company's long-term debt is as follows:
(Dollars in Millions) | December 2020 |  | December 2019
Long-term Debt (Including Current Maturities): |  |  |
Fair Value | $ | 21,076 |  |  | $ | 18,503 |
Carrying Value | 16,705 |  |  | 16,238 |
Schedule of Pension Plan Assets at Fair Value by Level | The pension plan assets at fair value by level, within the fair value hierarchy, as of calendar plan years 2020 and 2019 are shown in the table below. For additional information related to pension assets, see Note 9, Employee Benefit Plans.
| Fiscal Years
| 2020 |  | 2019
(Dollars in Millions) | Level 1 |  | Level 2 |  |  |  | Total |  | Level 1 |  | Level 2 |  |  |  | Total
Common Stock | $ | 337 |  |  | $ | — |  |  |  |  | $ | 337 |  |  | $ | 823 |  |  | $ | — |  |  |  |  | $ | 823 |
Mutual funds | 21 |  |  | — |  |  |  |  | 21 |  |  | 78 |  |  | — |  |  |  |  | 78 |
Cash and cash equivalents | 387 |  |  | — |  |  |  |  | 387 |  |  | 229 |  |  | — |  |  |  |  | 229 |
Corporate bonds | — |  |  | 1,026 |  |  |  |  | 1,026 |  |  | — |  |  | 588 |  |  |  |  | 588 |
Government securities | — |  |  | 164 |  |  |  |  | 164 |  |  | — |  |  | 217 |  |  |  |  | 217 |
Asset-backed securities, derivatives and other | — |  |  | 85 |  |  |  |  | 85 |  |  | — |  |  | 17 |  |  |  |  | 17 |
Total investments in the fair value hierarchy | $ | 745 |  |  | $ | 1,275 |  |  |  |  | $ | 2,020 |  |  | $ | 1,130 |  |  | $ | 822 |  |  |  |  | $ | 1,952 |
Investments measured at net asset value (a) | n/a |  | n/a |  |  |  | $ | 980 |  |  | n/a |  | n/a |  |  |  | $ | 873 |
Investments at fair value | $ | 745 |  |  | $ | 1,275 |  |  |  |  | $ | 3,000 |  |  | $ | 1,130 |  |  | $ | 822 |  |  |  |  | $ | 2,825 |
(a) Investments measured at net asset value represent certain investments that have been measured at net asset value per share (or its equivalent) and thus are not classified in the fair value hierarchy. In accordance with ASC 820, Fair Value Measurements, the fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the pension assets disclosed in Note 9, Employee Benefit Plans.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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