XML 27 R11.htm IDEA: XBRL DOCUMENT v3.3.1.900
Marketable Securities
 12 Months Ended
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
  3.   MARKETABLE SECURITIES

Changes in the value of marketable securities, as reported in current assets on the consolidated balance sheets as at December 31, 2015 and December 31, 2014 are detailed in the tables below:

 

     December 31,
2014		      Purchase     Sale      Change in
fair value
included in
OCI*		     Change in
fair value
recognized
in earnings		      December 31,
2015		  

U.S. Treasury Bonds

      334         —          —           1        —           335   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

Total

      334         —          —           1        —           335   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

 

*

Other Comprehensive Income

 

     December 31,
2013		      Purchase      Sale     Change in
fair value
included in
OCI*		      Foreign
exchange
result
through
OCI*		      December 31,
2014		  

U.S. Treasury Bonds

      —           333         —          1         —           334   

Corporate Bonds

      57         —           (58 )      —           1         —     
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

Total

      57         333         (58 )      1         1         334   
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

     

 

 

  

 

*

Other Comprehensive Income

 

As at December 31, 2015, the Company held $335 million in U.S. Treasury bonds. The bonds had an average rating of Aaa/AA+/AAA from Moody’s, S&P and Fitch, respectively, with a weighted average maturity of 4.3 years. The debt securities were reported as current assets on the line “Marketable Securities” on the consolidated balance sheet as at December 31, 2015, since they represented investments of funds available for current operations. The bonds were classified as available-for-sale and recorded at fair value as at December 31, 2015 and 2014, respectively. This fair value measurement corresponds to a Level 1 fair value hierarchy measurement. The aggregate amortized cost basis of these securities totaled $332 million as at December 31, 2015.

The Company held corporate bonds amounting to $57 million, which matured in 2014. No credit loss was identified on these instruments.