Fair Value Measurements and Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value Measurements and Financial Instruments

Schedule of assets and liabilities that are measured at fair value on a recurring basis

			Fair Value Measurements Using
	Balance at December 31, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds and highly liquid debt securities (1)	$	2,428	$	2,403	$	25	$	—
Other investments
Fixed maturity securities
Corporate bonds		12		—		—		12
Government bonds		3		—		3		—
Derivatives
Interest rate contracts		16		—		16		—
Foreign exchange contracts		141		—		141		—
Liabilities:
Derivatives
Foreign exchange contracts		189		—		189		—

(1)

Includes $2,403 million of money market funds and $25 million of highly liquid debt securities that are classified as fiduciary assets, short-term investments or cash equivalents in the Consolidated Statements of Financial Position, depending on their nature and initial maturity. See Note 7 "Investments" for additional information regarding the Company's investments.

			Fair Value Measurements Using
	Balance at December 31, 2010		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds and highly liquid debt securities (1)	$	2,618	$	2,591	$	27	$	—
Other investments
Fixed maturity securities
Corporate bonds		12		—		—		12
Government bonds		3		—		3		—
Derivatives
Interest rate contracts		15		—		15		—
Foreign exchange contracts		159		—		159		—
Liabilities:
Derivatives
Foreign exchange contracts		158		—		158		—

(1)

Includes $2,591 million of money market funds and $27 million of highly liquid debt securities that are classified as fiduciary assets, short-term investments or cash equivalents in the Consolidated Statements of Financial Position, depending on their nature and initial maturity. See Note 7 "Investments" for additional information regarding the Company's investments.

Schedule of changes in the Level 3 fair-value category

	Fair Value Measurements Using Level 3 Inputs
	Other Investments			Guarantees
Balance at January 1, 2010		100			(4	)
Total gains (losses):
Included in earnings		—			4
Included in other comprehensive income		—			—
Purchases and sales		(1	)		—
Transfers (1)		(87			—
Balance at December 31, 2010	$	12		$	—
Total gains (losses):
Included in earnings		—			—
Included in other comprehensive income		—			—
Purchases		—			—
Sales		—			—
Transfers (1)		—			—
Balance at December 31, 2011	$	12		$	—

(1)

Transfers represent the removal of the investment in PEPS I preferred stock as a result of consolidating PEPS I on January 1, 2010.

Schedule of financial instruments where the carrying amounts and fair values differ

As of December 31	2011				2010
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt	$	4,155	$	4,494	$	4,014	$	4,172