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Financial Instruments
 3 Months Ended
Mar. 28, 2014
Investments, All Other Investments [Abstract]  
Financial Instruments

16.  Financial Instruments

At March 28, 2014 and December 31, 2013, 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 other financial instruments are presented in the table below.

 

     March 28, 2014     December 31, 2013  
     Carrying
Amount		     Estimated
Fair Value		     Carrying
Amount		      Estimated
Fair Value		  
     (in millions)  

Senior Notes(1)

    $ 2,942      $ 3,168      $ 2,941       $ 3,121   

CODES(1)

      689        911        689         830   

Foreign currency forward contracts(2)

      (5 )      (5 )      1         1   

 

(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 17 for additional disclosures regarding the notional amounts and fair values of foreign currency forward contracts.