Note 7 - Available-for-Sale Investments

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

7.      Available-for-Sale Investments

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

	Amortized cost				Fair value
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Bonds, notes and other securities:
U.S. government and agencies			$	100			$	100
Total short-term investments			$	100			$	100
Asset-backed securities  (1)	$	34	$	37	$	30	$	33
Total long-term investments	$	34	$	37	$	30	$	33

1) Due after 10 years and are being reported at their final maturity dates.

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.

For the six months ended June 30, 2016 and 2015, proceeds from sales and maturities of short-term investments totaled approximately $121 million and $0.8 billion, respectively.