Fair Value Measurements and Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

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

The following tables present the categorization of the Company's assets and liabilities that are measured at fair value on a recurring basis at September 30, 2014 and December 31, 2013 (in millions):

			Fair Value Measurements Using
	Balance at September 30, 2014		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)	$	1,649	$	1,647	$	2	$	—
Other investments:
Fixed maturity securities:
Corporate bonds	1		—		—		1
Government bonds	7		—		7		—
Equity securities	11		6		5		—
Derivatives:
Interest rate contracts	—		—		—		—
Foreign exchange contracts	55		—		55		—
Liabilities:
Derivatives:
Foreign exchange contracts	65		—		65		—

  ______________________________________________

(1) Includes $1,647 million of money market funds and $2 million of highly liquid debt securities that are classified as Fiduciary assets, Short-term investments or Cash and cash equivalents in the Condensed Consolidated Statements of Financial Position, depending on their nature and initial maturity.  See Note 8 "Investments" for additional information regarding the Company's investments.

			Fair Value Measurements Using
	Balance at December 31, 2013		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)	$	2,079	$	2,054	$	25	$	—
Other investments:
Fixed maturity securities:
Corporate bonds	2		—		—		2
Government bonds	7		—		7		—
Equity securities	13		6		7		—
Derivatives:
Interest rate contracts	9		—		9		—
Foreign exchange contracts	71		—		71		—
Liabilities:
Derivatives:
Foreign exchange contracts	93		—		93		—

  ______________________________________________

(1)  Includes $2,054 million of money market funds and $25 million of highly liquid debt securities that are classified as Fiduciary assets, Short-term investments or Cash and cash equivalents in the Condensed Consolidated Statements of Financial Position, depending on their nature and initial maturity.  See Note 8 "Investments" for additional information regarding the Company's investments.

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

The fair value of Long-term debt is classified as Level 2 of the fair value hierarchy. The following table discloses the Company's financial instruments where the carrying amounts and fair values differ (in millions):

	September 30, 2014				December 31, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt	$	4,840	$	5,190	$	3,686	$	3,894