Fair Value Measurement of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2016

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 March 31, 2016 and December 31, 2015:



Description	Balance as of March 31, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
Assets:
Cash and cash equivalents	$	2,686	$	2,156	$	530
Short-term investments:
Restricted cash	25		25		—
Corporate debt securities	4,295		—		4,295
Government and agency securities	50		—		50
Equity instruments	957		957		—
Total short-term investments	5,327		982		4,345
Derivatives	190		—		190
Long-term investments:
Corporate debt securities	3,240		—		3,240
Total long-term investments	3,240		—		3,240
Total financial assets	$	11,443	$	3,138	$	8,305

Liabilities:
Derivatives	$	62	$	—	$	62



Description	Balance as of December 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	$	1,832	$	1,664	$	168
Short-term investments:
Restricted cash	28		28		—
Corporate debt securities	3,287		—		3,287
Government and agency securities	55		—		55
Equity instruments	929		929		—
Total short-term investments	4,299		957		3,342
Derivatives	97		—		97
Long-term investments:
Corporate debt securities	3,267		—		3,267
Total long-term investments	3,267		—		3,267
Total financial assets	$	9,495	$	2,621	$	6,874

Liabilities:
Derivatives	$	25	$	—	$	25