Marketable Securities

Marketable securities are classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in accumulated other comprehensive loss on our accompanying consolidated balance sheets. Proceeds received from sales and maturities of marketable securities were $87 million for the three months ended March 31, 2015. Our investments in marketable securities consisted of the following:



	As of March 31, 2015				As of December 31, 2014
(millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Corporate debt securities	$	57	$	57	$	93	$	93
U.S. government and agency debt securities	6		6		22		22
Asset-backed debt securities	13		13		17		17
Certificates of deposit	11		11		18		18
Municipal debt securities	2		2		4		4
Total marketable securities	$	89	$	89	$	154	$	154

The realized and unrealized gains and losses for the three months ended March 31, 2015 and 2014 were immaterial. Cost basis for securities sold are determined on a first-in-first-out basis.

Contractual maturities of marketable securities as of March 31, 2015 were as follows:



(millions)	Amortized Cost		Fair Value
Due in 1 year or less	$	61	$	61
Due in 1-5 years	28		28
Total marketable securities	$	89	$	89

Actual maturities may differ from the contractual maturities because issuers of the securities may have the right to prepay them.