Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Composition of Investments

The following tables summarize the composition of our short- and long-term investments at December 31, 2014 and 2013 (tables in millions):

	December 31, 2014
	Amortized Cost		Unrealized Gains		Unrealized (Losses)			Aggregate Fair Value
U.S. government and agency obligations	$	1,951	$	2	$	(2	)	$	1,951
U.S. corporate debt securities	1,998		1		(4		)	1,995
High yield corporate debt securities	570		9		(16		)	563
Asset-backed securities	53		—		—			53
Municipal obligations	948		2		—			950
Auction rate securities	29		—		(2		)	27
Foreign debt securities	2,566		2		(4		)	2,564
Total fixed income securities	8,115		16		(28		)	8,103
Publicly traded equity securities	117		103		(11		)	209
Total	$	8,232	$	119	$	(39	)	$	8,312

	December 31, 2013
	Amortized Cost		Unrealized Gains		Unrealized (Losses)			Aggregate Fair Value
U.S. government and agency obligations	$	3,726	$	4	$	(3	)	$	3,727
U.S. corporate debt securities	2,260		8		(2		)	2,266
High yield corporate debt securities	515		19		(3		)	531
Municipal obligations	860		3		—			863
Auction rate securities	63		—		(3		)	60
Foreign debt securities	2,152		6		(3		)	2,155
Total fixed income securities	9,576		40		(14		)	9,602
Publicly traded equity securities	72		24		(1		)	95
Total	$	9,648	$	64	$	(15	)	$	9,697

Fair Value Hierarchy For Financial Assets and Liabilities Measured at Fair Value

The following tables represent our fair value hierarchy for our financial assets and liabilities measured at fair value as of December 31, 2014 and 2013 (in millions):

	December 31, 2014
	Level 1		Level 2			Level 3		Total
Cash	$	2,022	$	—		$	—	$	2,022
Cash equivalents	3,710		611			—		4,321
U.S. government and agency obligations	1,141		810			—		1,951
U.S. corporate debt securities	—		1,995			—		1,995
High yield corporate debt securities	—		563			—		563
Asset-backed securities	—		53			—		53
Municipal obligations	—		950			—		950
Auction rate securities	—		—			27		27
Foreign debt securities	—		2,564			—		2,564
Publicly traded equity securities	209		—			—		209
Total cash and investments	$	7,082	$	7,546		$	27	$	14,655
Other items:
Strategic investments carried at cost	$	—	$	—		$	333	$	333
Investment in joint venture	—		—			37		37
Long-term debt carried at discounted issuance cost	—		(5,544		)	—		(5,544		)
Foreign exchange derivative assets	—		44			—		44
Foreign exchange derivative liabilities	—		(71		)	—		(71		)
Commodity derivative assets	—		12			—		12

	December 31, 2013
	Level 1		Level 2			Level 3		Total
Cash	$	1,725	$	—		$	—	$	1,725
Cash equivalents	5,674		492			—		6,166
U.S. government and agency obligations	1,797		1,930			—		3,727
U.S. corporate debt securities	—		2,266			—		2,266
High yield corporate debt securities	—		531			—		531
Municipal obligations	—		863			—		863
Auction rate securities	—		—			60		60
Foreign debt securities	—		2,155			—		2,155
Publicly traded equity securities	95		—			—		95
Total cash and investments	$	9,291	$	8,237		$	60	$	17,588
Other items:
Strategic investments carried at cost	$	—	$	—		$	379	$	379
Investment in joint venture	—		—			35		35
Long-term debt carried at discounted issuance cost	—		(5,419		)	—		(5,419		)
Foreign exchange derivative assets	—		31			—		31
Foreign exchange derivative liabilities	—		(20		)	—		(20		)
Commodity derivative assets	—		4			—		4

Unrealized Losses on Investments by Investment Category and Length of Time in Continuous Unrealized Loss Position

Unrealized losses on investments at December 31, 2014 and 2013 by investment category and length of time the investment has been in a continuous unrealized loss position are as follows (table in millions):

December 31, 2014	Less Than 12 Months					12 Months or Greater					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government and agency obligations	$	1,168	$	(2	)	$	—	$	—		$	1,168	$	(2	)
U.S. corporate debt securities	1,383		(4		)	—		—			1,383		(4		)
High yield corporate debt securities	244		(16		)	—		—			244		(16		)
Auction rate securities	—		—			27		(2		)	27		(2		)
Foreign debt securities	1,563		(4		)	—		—			1,563		(4		)
Publicly traded equity securities	17		(9		)	3		(2		)	20		(11		)
Total	$	4,375	$	(35	)	$	30	$	(4	)	$	4,405	$	(39	)

December 31, 2013	Less Than 12 Months					12 Months or Greater					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government and agency obligations	$	1,161	$	(3	)	$	20	$	—		$	1,181	$	(3	)
U.S. corporate debt securities	532		(2		)	17		—			549		(2		)
High yield corporate debt securities	120		(3		)	—		—			120		(3		)
Municipal obligations	51		—			—		—			51		—
Auction rate securities	—		—			60		(3		)	60		(3		)
Foreign debt securities	695		(3		)	6		—			701		(3		)
Publicly traded equity securities	—		—			25		(1		)	25		(1		)
Total	$	2,559	$	(11	)	$	128	$	(4	)	$	2,687	$	(15	)

Contractual Maturities of Investments

The contractual maturities of fixed income securities held at December 31, 2014 are as follows (table in millions):

	December 31, 2014
	Amortized Cost Basis		Aggregate Fair Value
Due within one year	$	1,946	$	1,946
Due after 1 year through 5 years	5,332		5,330
Due after 5 years through 10 years	548		540
Due after 10 years	289		287
Total	$	8,115	$	8,103