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FINANCIAL INSTRUMENTS
 12 Months Ended
Dec. 31, 2016
Financial Instruments [Abstract]  
Financial Instruments Text Block
FINANCIAL INSTRUMENTS

Investments
The Corporation's investments in marketable securities are classified as available-for-sale. Proceeds from sales of available-for-sale securities in 2016 were $2 million ($1 million in 2015 and zero in 2014).

Portfolio managers regularly review all of the Corporation's holdings to determine if any investments are other-than-temporarily impaired. The analysis includes reviewing the amount of the impairment, as well as the length of time it has been impaired. In addition, specific guidelines for each instrument type are followed to determine if an other-than-temporary impairment has occurred. At December 31, 2016 and December 31, 2015, there were no impairment indicators or circumstances that would result in a material adjustment of these investments.

The Corporation's investments in debt securities, shown below, had contractual maturities of less than 10 years at December 31, 2016.

Fair Value of Financial Instruments
 
At December 31, 2016
 
At December 31, 2015
In millions
Cost

Gain

Loss

Fair Value

 
Cost

Gain

Loss

Fair Value

Cash equivalents
$
7

$
—

$
—

$
7

 
$
5

$
—

$
—

$
5

Debt securities (1)
$
2

$
—

$
—

$
2

 
$
4

$
—

$
—

$
4

Long-term debt including debt due within one year
$
(476
)
$
—

$
(95
)
$
(571
)
 
$
(477
)
$
—

$
(96
)
$
(573
)

(1)
Marketable securities are included in “Other investments” in the consolidated balance sheets.

For all other financial instruments, cost approximates fair value.