Fair Value Measurement of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2016 and December 31, 2015:



Description	Balance as of June 30, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(In millions)
Assets:
Cash and cash equivalents	$	2,001	$	1,854	$	147
Short-term investments:
Restricted cash	25		25		—
Corporate debt securities	4,866		—		4,866
Government and agency securities	50		—		50
Equity instruments	1,144		1,144		—
Total short-term investments	6,085		1,169		4,916
Derivatives	231		—		231
Long-term investments:
Corporate debt securities	3,357		—		3,357
Government and agency securities	68		—		68
Total long-term investments	3,425		—		3,425
Total financial assets	$	11,742	$	3,023	$	8,719

Liabilities:
Derivatives	$	52	$	—	$	52



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