Fair Value of Financial Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2015

Fair value of financial assets and liabilities

The following table represents assets and liabilities measured at fair value on a recurring basis. The basis for the measurement at fair value in all cases is Level 2 – Significant Other Observable Inputs.



	September 30, 2015		December 31, 2014
Assets:
Foreign exchange contracts - forwards	$	46	$	20
Foreign currency options	1		2
Interest rate swaps	12		5
Deferred compensation investments in cash surrender life insurance	92		94
Deferred compensation investments in mutual funds	33		32
Total	$	184	$	153
Liabilities:
Foreign exchange options	$	2	$	—
Foreign exchange contracts - forwards	31		58
Deferred compensation plan liabilities	124		135
Total	$	157	$	193

Estimated fair values of financial assets and liabilities not measured at fair value on a recurring basis

The estimated fair values of our other financial assets and liabilities not measured at fair value on a recurring basis were as follows:



	September 30, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	804	$	804	$	1,411	$	1,411
Accounts receivable, net	2,612		2,612		2,652		2,652
Short-term debt	1,183		1,194		1,427		1,417
Long-term debt	6,393		6,564		6,314		6,719