Fair Value of Financial Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

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, 2016		December 31, 2015
Assets:
Foreign exchange contracts - forwards	$	2	$	—
Deferred compensation investments in cash surrender life insurance	96		92
Deferred compensation investments in mutual funds	21		21
Total	$	119	$	113
Liabilities:
Foreign exchange contracts - forwards	$	4	$	3
Deferred compensation plan liabilities	110		110
Total	$	114	$	113

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, 2016				December 31, 2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	148	$	148	$	140	$	140
Accounts receivable, net	1,420		1,420		1,246		1,246
Short-term debt	22		22		24		24
Long-term debt	26		26		37		37