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Marketable Securities | 12 Months Ended
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Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | Marketable Securities The following table sets forth items in short-term and long-term investments.
| Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
| (In millions)
December 31, 2016 |  |  |  |  |  |  |
United States government obligations |  |  |  |  |  |  |
Maturity less than 1 year | $ | 287 |  |  | $ | — |  |  | $ | — |  |  | $ | 287 |
Maturity 1 to 5 years | 121 |  |  | — |  |  | (1 | ) |  | 120 |
Corporate debt securities |  |  |  |  |  |  |
Maturity less than 1 year | 1 |  |  | — |  |  | — |  |  | 1 |
Maturity 1 to 5 years | 66 |  |  | — |  |  | — |  |  | 66 |
Other debt securities |  |  |  |  |  |  |
Maturity less than 1 year | 8 |  |  | — |  |  | — |  |  | 8 |
Equity securities |  |  |  |  |  |  |
Available-for-sale | 1 |  |  | — |  |  | — |  |  | 1 |
| $ | 484 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 483 |
| Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
| (In millions)
December 31, 2015 |  |  |  |  |  |  |
United States government obligations |  |  |  |  |  |  |
Maturity less than 1 year | $ | 256 |  |  | $ | — |  |  | $ | — |  |  | $ | 256 |
Maturity 1 to 5 years | 116 |  |  | — |  |  | — |  |  | 116 |
Corporate debt securities |  |  |  |  |  |  |  |  |  |  |
Maturity 1 to 5 years | 26 |  |  | — |  |  | — |  |  | 26 |
Other debt securities |  |  |  |  |  |  |  |  |  |  |
Maturity less than 1 year | 182 |  |  | — |  |  | — |  |  | 182 |
Maturity 1 to 5 years | 3 |  |  | — |  |  | — |  |  | 3 |
Equity securities |  |  |  |  |  |  |  |  |  |  |
Available-for-sale | 296 |  |  | 4 |  |  | (6 | ) |  | 294 |
| $ | 879 |  |  | $ | 4 |  |  | $ | (6 | ) |  | $ | 877 |
The $1 million in unrealized losses at December 31, 2016 arose within the last 12 months and is related to the Company’s investment in one available-for-sale debt security with a fair value of $42 million. The contractual terms of this investment do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investment. Because the Company does not intend to sell the investment and it is not more likely than not that it will be required to sell the investment before recovery of its amortized cost basis, which may be maturity, the Company does not consider this investment to be other-than-temporarily impaired at December 31, 2016. For information on other-than temporary impairment charges, see Note 18. In December 2016, the Company sold its 19.8% ownership interest in GrainCorp for A$387 million (US$288 million). This investment was classified as an available-for-sale equity security in the December 31, 2015 table above.

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