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Investments In Marketable Securities | 12 Months Ended
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Dec. 31, 2012
INVESTMENTS IN MARKETABLE SECURITIES | 5. INVESTMENTS IN MARKETABLE SECURITIES The following table sets forth the Company's investments in marketable debt and equity securities classified as trading and available-for-sale as of December 31, 2012 and 2011 by type of investment and by level within the fair value hierarchy. The security types are determined based on the nature and risk of the security and are consistent with how the Company manages, monitors and measures its securities.
|  |  | December 31,
|  |  | 2012 |  | 2011
|  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  |  | Total
|  |  | (in millions)
AVAILABLE-FOR-SALE:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Unsecured debentures |  | $ | - |  | $ | 448 |  | $ | - |  | $ | 448 |  | $ | - |  | $ | 665 |  | $ | - |  | $ | 665
| Certificates of deposit |  |  | - |  |  | 143 |  |  | - |  |  | 143 |  |  | - |  |  | 576 |  |  | - |  |  | 576
| Government debt securities |  |  | - |  |  | 34 |  |  | - |  |  | 34 |  |  | - |  |  | 31 |  |  | - |  |  | 31
| Subtotal |  |  | - |  |  | 625 |  |  | - |  |  | 625 |  |  | - |  |  | 1,272 |  |  | - |  |  | 1,272
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Mutual funds |  |  | - |  |  | 56 |  |  | - |  |  | 56 |  |  | - |  |  | 67 |  |  | - |  |  | 67
| Common stock |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1 |  |  | - |  |  | - |  |  | 1
| Subtotal |  |  | - |  |  | 56 |  |  | - |  |  | 56 |  |  | 1 |  |  | 67 |  |  | - |  |  | 68
Total available-for-sale |  |  | - |  |  | 681 |  |  | - |  |  | 681 |  |  | 1 |  |  | 1,339 |  |  | - |  |  | 1,340
TRADING: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Mutual funds |  |  | 12 |  |  | - |  |  | - |  |  | 12 |  |  | 12 |  |  | - |  |  | - |  |  | 12
Total trading |  |  | 12 |  |  | - |  |  | - |  |  | 12 |  |  | 12 |  |  | - |  |  | - |  |  | 12
TOTAL |  | $ | 12 |  | $ | 681 |  | $ | - |  | $ | 693 |  | $ | 13 |  | $ | 1,339 |  | $ | - |  | $ | 1,352
Held-to-maturity securities |  |  |  |  |  |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  |  |  |  |  | 4
Total marketable securities |  |  |  |  |  |  |  |  |  |  | $ | 696 |  |  |  |  |  |  |  |  |  |  | $ | 1,356
____________________________________________ (1) A mortized cost approximated fair value at December 31, 2012 and 2011, with the exception of certain common stock investments with a cost basis of $4 million carried at their fair value of $1 million at December 31, 2011. As of December 31, 2012 and 2011, the Company did not have any Level 3 marketable securities. During 2011, the Company sold Level 3 market securities of $42 million held at the beginning of the year. As of December 31, 2012 and 2011, all available-for-sale debt securities had st ated maturities of less than one year. The following table summarizes the pre-tax gains and losses related to available-for-sale securities for the years ended December 31, 2012, 2011 and 2010. Gains and losses on the sale of investments are determined using the specific identification method. There was no other-than-temporary impairment of marketable securities recognized in earnings or other comprehensive income for the year s ended December 31, 2012, 2011 and 2010.
|  |  | 2012 |  | 2011 |  | 2010
|  |  | (in millions)
Gains (losses) included in earnings that relate to trading securities |  |  |  |  |  |  |  |  |
| held at the reporting date |  | $ | (1) |  | $ | 1 |  | $ | -
Unrealized gains (losses) on available-for-sale securities included in |  |  |  |  |  |  |  |  |
| other comprehensive income |  |  | 1 |  |  | 2 |  |  | 2
(Gains) reclassified out of other comprehensive income into earnings |  |  | (1) |  |  | - |  |  | -
Gross proceeds from sales of available-for-sale securities |  |  | 6,489 |  |  | 6,119 |  |  | 5,852
Gross realized gains on sales |  |  | 2 |  |  | 3 |  |  | 2

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 + Details
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