Fair Value Measurement of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2015

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

The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014:



Description	Balance as of September 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
Assets:
Cash and cash equivalents	$	2,387	$	1,954	$	433
Short-term investments:
Restricted cash	30		30		—
Corporate debt securities	2,039		—		2,039
Government and agency securities	55		—		55
Time deposits	50		—		50
Equity instruments	740		740		—
Total short-term investments	2,914		770		2,144
Derivatives	139		—		139
Long-term investments:
Corporate debt securities	3,449		—		3,449
Total long-term investments	3,449		—		3,449
Total financial assets	$	8,889	$	2,724	$	6,165

Liabilities:
Derivatives	$	32	$	—	$	32



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	$	4,105	$	1,694	$	2,411
Short-term investments:
Restricted cash	19		19		—
Corporate debt securities	2,519		—		2,519
Government and agency securities	3		—		3
Time deposits	152		—		152
Equity instruments	1,037		1,037		—
Total short-term investments	3,730		1,056		2,674
Derivatives	84		—		84
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	$	13,471	$	2,750	$	10,721

Liabilities:
Derivatives	$	20	$	—	$	20