Fair Value Measurements Fair Value Measurement

9 Months Ended

Sep. 30, 2017

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Fair Value Measurements

The following tables summarize the bases used to measure certain assets and liabilities at fair value on a recurring basis at September 30, 2017 and December 31, 2016:



September 30, 2017	Significant Other Observable Inputs (Level 2)		Total
(In millions)	Significant Other Observable Inputs (Level 2)		Total
Assets at fair value:
Cash equivalents¹	$	3,251	$	3,251
Marketable securities	1,826		1,826
Derivatives relating to:²
Foreign currency	13		13
Total assets at fair value	$	5,090	$	5,090
Liabilities at fair value:
Long-term debt³	$	11,097	$	11,097
Derivatives relating to:²
Foreign currency	32		32
Total liabilities at fair value	$	11,129	$	11,129


1.	Time deposits included in "Cash and cash equivalents" in the consolidated balance sheets are held at amortized cost, which approximates fair value.


2.	See Note 17 for the classification of derivatives in the consolidated balance sheets.


3.	See Note 12 for information on fair value measurements of long-term debt.



December 31, 2016	Significant Other Observable Inputs (Level 2)		Total
(In millions)	Significant Other Observable Inputs (Level 2)		Total
Assets at fair value:
Cash equivalents¹	$	2,713	$	2,713
Marketable securities	1,362		1,362
Derivatives relating to:²
Foreign currency	182		182
Total assets at fair value	$	4,257	$	4,257
Liabilities at fair value:
Long-term debt³	$	8,464	$	8,464
Derivatives relating to:²
Foreign currency	121		121
Total liabilities at fair value	$	8,585	$	8,585


1.	Time deposits included in "Cash and cash equivalents" in the consolidated balance sheets are held at amortized cost, which approximates fair value.


2.	See Note 17 for the classification of derivatives in the consolidated balance sheets.


3.	See Note 12 for information on fair value measurements of long-term debt.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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