Fair Value Measurement of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of fair value of assets and liabilities measured on recurring basis

The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014:



Description	Balance as of March 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
Assets:
Cash and cash equivalents	$	5,473	$	3,867	$	1,606
Short-term investments:
Restricted cash	36		36		—
Corporate debt securities	3,109		—		3,109
Government and agency securities	5		—		5
Time deposits	60		—		60
Equity instruments	996		996		—
Total short-term investments	4,206		1,032		3,174
Funds receivable and customer accounts	3,745		—		3,745
Derivatives	376		—		376
Long-term investments:
Corporate debt securities	5,381		—		5,381
Government and agency securities	51		—		51
Total long-term investments	5,432		—		5,432
Total financial assets	$	19,232	$	4,899	$	14,333

Liabilities:
Derivatives	$	51	$	—	$	51



Description	Balance as of December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
Assets:
Cash and cash equivalents	$	6,328	$	3,917	$	2,411
Short-term investments:
Restricted cash	29		29		—
Corporate debt securities	2,519		—		2,519
Government and agency securities	3		—		3
Time deposits	181		—		181
Equity instruments	1,038		1,038		—
Total short-term investments	3,770		1,067		2,703
Funds receivable and customer accounts	4,161		—		4,161
Derivatives	222		—		222
Long-term investments:
Corporate debt securities	5,319		—		5,319
Government and agency securities	233		—		233
Total long-term investments	5,552		—		5,552
Total financial assets	$	20,033	$	4,984	$	15,049

Liabilities:
Derivatives	$	29	$	—	$	29