The following is a summary of the fair value of available-for-sale investments (in millions):


	Amortized cost				Fair value
	September 30, 2011		December 31, 2010		September 30, 2011		December 31, 2010
Bonds, notes and other securities:
U.S. government and agencies	$	1,507	$	1,734	$	1,512	$	1,737
Other debt securities		6		11		8		15
Total short-term investments	$	1,513	$	1,745	$	1,520	$	1,752
Asset-backed securities	$	59	$	64	$	38	$	45
Total long-term investments	$	59	$	64	$	38	$	45

We do not intend to sell, nor do we believe it is more likely than not that we would be required to sell, the long-term investment asset-backed securities (which are collateralized by mortgages) before recovery of their amortized cost basis. It is possible that a significant degradation in the delinquency or foreclosure rates in the underlying assets could cause further temporary or other-than-temporary impairments in the future.

The following table summarizes the maturities at market value of available-for-sale securities at September 30, 2011 (in millions):

Less than one year	$1,193
Due in 1-5 years	319
Due in 5-10 years
Due after 10 years (1)	46
Total	$1,558

(1)	Includes $38 million of asset-based securities that mature over time and are being reported at their final maturity dates.

The following tables provide the fair value and gross unrealized losses of the Company's investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2011 and December 31, 2010 (in millions):


		September 30, 2011
		12 months or greater				Total
	Number of securities in a loss position	Fair value		Unrealized losses (1)		Fair value		Unrealized losses
Asset-backed securities	22	$	38	$	(21)	$	38	$	(21)
Total long-term investments	22	$	38	$	(21)	$	38	$	(21)

(1)	Unrealized losses in securities less than 12 months were not significant.


		December 31, 2010
		12 months or greater				Total
	Number of securities in a loss position	Fair value		Unrealized losses (1)		Fair value		Unrealized losses
Asset-backed securities	22	$	45	$	(20)	$	45	$	(20)
Total long-term investments	22	$	45	$	(20)	$	45	$	(20)

(1)	Unrealized losses in securities less than 12 months were not significant.

Gross realized gains and losses for the three and nine months ended September 30, 2011 and 2010 were not significant.

A reconciliation of the changes in credit losses recognized in earnings for the nine months ended September 30, 2011 and nine months ended September 30, 2010 (in millions):

	2011	2010
Beginning balance of credit losses, January 1	$ 4	$ 2
Additions for credit losses not previously recognized in earnings
Balance of credit losses, March 31	$ 4	$ 2
Additions for credit losses not previously recognized in earnings	1	1
Ending balance of credit losses, June 30	$ 5	$ 3
Additions for credit losses not previously recognized in earnings
Ending balance of credit losses, September 30	$ 5	$ 3

The $5 million loss represents management's estimate of credit losses inherent in the securities considering projected cash flows using assumptions of delinquency rates, loss severities, and other estimates of future collateral performance. These credit losses are limited to asset-backed securities in our investment portfolio.

As of September 30, 2011 and December 31, 2010, for securities that have credit losses, an other than temporary impairment loss of $16 million in both periods is recognized in accumulated other comprehensive income.

Proceeds from sales and maturities of short-term investments totaled $2.4 billion and $1.3 billion for the nine months ended September 30, 2011 and 2010, respectively.