Fair Value Measurements

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Our policies for managing risk related to foreign currency, interest rates, credit and markets and our process for determining fair value have not changed from those described in our Annual Report on Form 10-K for 2017.

There were no significant transfers into or out of any level in 2018.

Assets Measured at Fair Value	June		December
	2018		2017
Cash and cash equivalents	$	1,641	$	2,542
Trading marketable securities	129		121
Level 1 - Assets	$	1,770	$	2,663
Available-for-sale marketable securities:
Corporate and asset-backed debt securities	$	99	$	125
Foreign government debt securities	2		2
United States agency debt securities	32		27
United States Treasury debt securities	77		70
Certificates of deposit	69		27
Total available-for-sale marketable securities	$	279	$	251
Foreign currency exchange forward contracts	76		15
Interest rate swap asset	—		49
Level 2 - Assets	$	355	$	315
Total assets measured at fair value	$	2,125	$	2,978

Liabilities Measured at Fair Value	June			December
	2018			2017
Deferred compensation arrangements	$	129		$	121
Level 1 - Liabilities	$	129		$	121
Foreign currency exchange forward contracts	$	13		$	37
Level 2 - Liabilities	$	13		$	37
Contingent consideration:
Beginning	$	32		$	86
Additions	78			3
Change in estimate	(1		)	2
Settlements	(4		)	(59		)
Ending	$	105		$	32
Level 3 - Liabilities	$	105		$	32
Total liabilities measured at fair value	$	247		$	190

Fair Value of Available for Sale Securities by Maturity
	June 2018		December 2017
Due in one year or less	$	123	$	107
Due after one year through three years	$	156	$	144

On June 30, 2018 and December 31, 2017 the aggregate difference between the cost and fair value of available-for-sale marketable securities was nominal. Interest and marketable securities income was$27 and $12 in the three months and was $50and $23 in the six months2018 and 2017, which was recorded in other income (expense), net.

Our investments in available-for-sale marketable securities had a minimum credit quality rating of A2 (Moody's), A (Standard & Poor's) and A (Fitch). We do not plan to sell the investments, and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost basis, which may be maturity. We do not consider these investments to be other-than-temporarily impaired on June 30, 2018. On June 30, 2018 substantially all our investments with unrealized losses that were not deemed to be other-than-temporarily impaired were in a continuous unrealized loss position for less than 12 months, and the losses were nominal.

Securities in a Continuous Unrealized Loss Position
	Number of Investments	Fair Value
Corporate and asset-backed	107	$	76
Foreign government	1	2
United States agency	16	24
United States Treasury	27	75
Certificates of deposit	42	66
Total	193	$	243