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Financial Instruments
 6 Months Ended
Jun. 28, 2013
Investments All Other Investments [Abstract]  
Financial Instruments

15.  Financial Instruments

At June 28, 2013 and December 31, 2012, the Company’s financial instruments consisted primarily of cash and cash equivalents, billed receivables, trade accounts payable, Senior Notes, CODES and foreign currency forward contracts. The carrying amounts of cash and cash equivalents, billed receivables and trade accounts payable are representative of their respective fair values because of their short-term maturities or the expected settlement dates of these instruments. The carrying amounts and estimated fair values of the Company’s financial instruments are presented in the table below.

 

     June 28, 2013      December 31, 2012  
     Carrying
  Amount  		      Estimated
  Fair Value  		      Carrying
  Amount  		      Estimated
  Fair Value  		  
     (in millions)  

Senior Notes(1)

    $   2,941        $   3,131       $   2,940       $   3,301   

CODES(1)

      689         700         689         697   

Foreign currency forward contracts(2)

      —         —         5         5   

 

 

(1) 

The Company measures the fair value of its Senior Notes and CODES using Level 2 inputs based primarily on current market yields for its existing debt traded in the secondary market.

 

(2) 

See Note 16 for additional disclosures regarding the notional amounts and fair values of foreign currency forward contracts.