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FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2019
Fair Value Disclosures [Abstract] |
Activity for Marketable Securities |
Investments Classified by Contractual Maturity Date | Maturities for marketable securities (in millions):
September 30, 2019 | Cost Basis |  | Fair Value
Due in one year or less | $ | 244 |  |  | $ | 244 |
Due after one year through five years | 1,105 |  |  | 1,118 |
Due after five years through 10 years | 15 |  |  | 15 |
Total | $ | 1,364 |  |  | $ | 1,377 |
Fair Value, by Balance Sheet Grouping | Fixed-rate debt on the consolidated balance sheet and the estimated fair value of long-term fixed-rate debt is as follows (in millions):
| September 30, 2019 |  | December 31, 2018
Fixed-rate debt at cost | $ | 567 |  |  | $ | 639 |
Non-recurring purchase price accounting fair value adjustment | 2 |  |  | 3 |
Total fixed-rate debt | $ | 569 |  |  | $ | 642 |
Estimated fair value | $ | 584 |  |  | $ | 641 |
Fair values of financial instruments on the consolidated balance sheet (in millions):
| September 30, 2019 |  | December 31, 2018
| Level 1 |  | Level 2 |  | Total |  | Level 1 |  | Level 2 |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |
Marketable securities |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities | $ | 379 |  |  | $ | — |  |  | $ | 379 |  |  | $ | 293 |  |  | $ | — |  |  | $ | 293 |
Equity mutual funds | 5 |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | — |
Foreign government bonds | — |  |  | 25 |  |  | 25 |  |  | — |  |  | 26 |  |  | 26 |
Asset-backed securities | — |  |  | 201 |  |  | 201 |  |  | — |  |  | 190 |  |  | 190 |
Mortgage-backed securities | — |  |  | 142 |  |  | 142 |  |  | — |  |  | 92 |  |  | 92 |
Corporate notes and bonds | — |  |  | 609 |  |  | 609 |  |  | — |  |  | 520 |  |  | 520 |
Municipal securities | — |  |  | 21 |  |  | 21 |  |  | — |  |  | 10 |  |  | 10 |
Total Marketable securities | 384 |  |  | 998 |  |  | 1,382 |  |  | 293 |  |  | 838 |  |  | 1,131 |
Derivative instruments |  |  |  |  |  |  |  |  |  |  |
Fuel hedge—call options | — |  |  | 7 |  |  | 7 |  |  | — |  |  | 4 |  |  | 4 |
Interest rate swap agreements | — |  |  | 2 |  |  | 2 |  |  | — |  |  | 10 |  |  | 10 |
Total Assets | $ | 384 |  |  | $ | 1,007 |  |  | $ | 1,391 |  |  | $ | 293 |  |  | $ | 852 |  |  | $ | 1,145 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Derivative instruments |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements | — |  |  | (14 | ) |  | (14 | ) |  | — |  |  | (7 | ) |  | (7 | )
Total Liabilities | $ | — |  |  | $ | (14 | ) |  | $ | (14 | ) |  | $ | — |  |  | $ | (7 | ) |  | $ | (7 | )

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References No definition available. + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 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=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
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