Fair Values Of Assets And Liabilities (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liabilities itemized below were measured at fair value on a recurring basis, using either the market approach (i), the cost approach (ii) or the income approach (iii) (in millions):



	March 31, 2014
	Fair Value Measurements Using
	Level 1		Level 2		Level 3
	Quoted Prices In Active Markets For Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs		Assets/ Liabilities At Fair Value
Assets
Money market funds^(i)(a)	$	1,790	$	—	$	—	$	1,790
Derivatives not designated as hedging instruments:
Interest rate swaps⁽ⁱⁱⁱ⁾	—		—		8		8
Interest rate caps⁽ⁱ⁾	—		6		—		6
Foreign currency swaps⁽ⁱ⁾	—		2		—		2
Total assets	$	1,790	$	8	$	8	$	1,806
Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps⁽ⁱⁱⁱ⁾	$	—	$	—	$	20	$	20
Interest rate caps⁽ⁱ⁾	—		6		—		6
Foreign currency swaps⁽ⁱ⁾	—		39		—		39
Total liabilities	$	—	$	45	$	20	$	65

_________________


(a)	Excludes cash in banks of $1.5 billion.



	December 31, 2013
	Fair Value Measurements Using
	Level 1		Level 2		Level 3
	Quoted Prices In Active Markets For Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs		Assets/ Liabilities At Fair Value
Assets
Money market funds^(i)(a)	$	1,452	$	—	$	—	$	1,452
Derivatives not designated as hedging instruments:
Interest rate swaps⁽ⁱⁱⁱ⁾	—		—		11		11
Interest rate caps⁽ⁱ⁾	—		7		—		7
Foreign currency swaps⁽ⁱ⁾	—		3		—		3
Total assets	$	1,452	$	10	$	11	$	1,473
Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps⁽ⁱⁱⁱ⁾	$	—	$	—	$	17	$	17
Interest rate caps⁽ⁱ⁾	—		7		—		7
Foreign currency swaps⁽ⁱ⁾	—		29		—		29
Total liabilities	$	—	$	36	$	17	$	53

_________________


(a)	Excludes cash in banks of $1.6 billion.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The tables below present a reconciliation for interest rate swap agreements measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in millions):



	Three Months Ended March 31, 2014
	Assets			Liabilities
Balance at beginning of period	$	11		$	(17	)
Total realized and unrealized gains included in earnings	(3		)	(7		)
Purchases	—			—
Settlements	—			4
Foreign currency translation	—			—
Balance at end of period	$	8		$	(20	)

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details