Fair Value Measurements and Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

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 June 30, 2016 and December 31, 2015 (in millions):

			Fair Value Measurements Using
	Balance at June 30, 2016		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 (1)	$	1,483	$	1,483	$	—	$	—
Other investments:
Government bonds	1		—		1		—
Equity investments	10		6		4		—
Derivatives (2):
Foreign exchange contracts	16		—		16		—
Liabilities:
Derivatives:
Foreign exchange contracts	12		—		12		—

  ______________________________________________

(1) Included within 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. 

(2) See Note 12 "Derivatives and Hedging" for additional information regarding the Company's derivative and hedging activity.

			Fair Value Measurements Using
	Balance at December 31, 2015		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 (1)	$	1,396	$	1,396	$	—	$	—
Other investments:
Government bonds	1		—		1		—
Equity investments	10		6		4		—
Derivatives (2):
Foreign exchange contracts	32		—		32		—
Liabilities:
Derivatives:
Foreign exchange contracts	18		—		18		—

  ______________________________________________

(1)  Included within 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. 

(2) See Note 12 "Derivatives and Hedging" for additional information regarding the Company's derivative and hedging activity.

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):

	June 30, 2016				December 31, 2015
	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt	$	5,907	$	6,448	$	5,138	$	5,386