Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Fair Value Measurements, Nonrecurring [Table Text Block]

Assets measured at fair value on a nonrecurring basis during the nine months ended September 30, 2014 and 2013 are set forth in the table below:



	September 30,
	2014				2013
Category	Fair Value of Level 3 Asset		Recognized Impairment		Fair Value of Level 3 Asset		Recognized Impairment
	(in millions)
Property, plant and equipment, net	$	11	$	6	$	25	$	7

Investment Segment [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Investment

The following table summarizes the valuation of the Investment Funds' investments and derivative contracts by the above fair value hierarchy levels as of September 30, 2014 and December 31, 2013:



	September 30, 2014								December 31, 2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Investments:
Equity securities:
Communications	$	2,940	$	—	$	—	$	2,940	$	820	$	—	$	—	$	820
Consumer, non-cyclical	2,077		—		—		2,077		3,344		178		—		3,522
Consumer, cyclical	385		—		—		385		414		—		—		414
Diversified	24		—		—		24		29		—		—		29
Energy	2,409		—		—		2,409		3,050		—		—		3,050
Financial	435		—		—		435		300		—		—		300
Funds	—		8		—		8		—		6		—		6
Industrial	53		17		—		70		—		—		—		—
Technology	5,267		—		—		5,267		3,173		—		—		3,173
	13,590		25		—		13,615		11,130		184		—		11,314
Corporate debt:
Consumer, cyclical	—		—		75		75		—		—		287		287
Financial	—		10		—		10		—		11		—		11
Sovereign debt	—		—		—		—		—		5		—		5
Utilities	—		34		—		34		—		29		—		29
	—		44		75		119		—		45		287		332
Mortgage-backed securities:
Financial	—		176		—		176		—		180		—		180
	13,590		245		75		13,910		11,130		409		287		11,826
Derivative contracts, at fair value⁽¹⁾	—		183		—		183		—		—		—		—
	$	13,590	$	428	$	75	$	14,093	$	11,130	$	409	$	287	$	11,826
Liabilities
Securities sold, not yet purchased, at fair value:
Equity securities:
Communications	$	9	$	—	$	—	$	9	$	—	$	—	$	—	$	—
Consumer, non-cyclical	—		—		—		—		44		—		—		44
Consumer, cyclical	1,064		—		—		1,064		787		—		—		787
Financial	—		—		—		—		45		—		—		45
Funds⁽²⁾	—		38		—		38		—		8		—		8
	1,073		38		—		1,111		876		8		—		884
Derivative contracts, at fair value⁽³⁾	—		103		—		103		—		639		—		639
	$	1,073	$	141	$	—	$	1,214	$	876	$	647	$	—	$	1,523


⁽¹⁾	Included in other assets in our consolidated balance sheets.


⁽²⁾	Includes $1 million of debt related securities as of September 30, 2014.


⁽³⁾	Included in accrued expenses and other liabilities in our consolidated balance sheets

Schedule of investments measured at fair value with Level 3 Input

The changes in investments measured at fair value for which our Investment segment has used Level 3 input to determine fair value are as follows:



	Nine Months Ended September 30,
	2014			2013
	(in millions)
Balance at January 1	$	287		$	288
Gross realized and unrealized losses	(100		)	4
Gross proceeds	(2		)	(4		)
Distribution-in-kind	(110		)	—
Balance at September 30	$	75		$	288

Other Segments and Holding Company [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Other Segments and Holding Company

The following table summarizes the valuation of our Automotive and Energy segments and our Holding Company investments, derivative contracts and other liabilities by the above fair value hierarchy levels as of September 30, 2014 and December 31, 2013:



	September 30, 2014								December 31, 2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Marketable equity and debt securities	$	91	$	4	$	75	$	170	$	1	$	—	$	—	$	1
Trading securities	—		—		55		55		—		—		116		116
Derivative contracts, at fair value⁽¹⁾	—		64		—		64		—		1		—		1
	$	91	$	68	$	130	$	289	$	1	$	1	$	116	$	118
Liabilities
Other liabilities	$	—	$	10	$	—	$	10	$	—	$	16	$	—	$	16
Derivative contracts, at fair value⁽²⁾	—		2		—		2		—		35		—		35
	$	—	$	12	$	—	$	12	$	—	$	51	$	—	$	51


⁽¹⁾	Amounts are classified within other assets in our consolidated balance sheets.


⁽²⁾	Amounts are classified within accrued expenses and other liabilities in our consolidated balance sheets.

Holding Company [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of investments measured at fair value with Level 3 Input

The changes in marketable equity and debt securities and trading securities measured at fair value for which our Holding Company have used Level 3 inputs to determine fair value are as follows:



	Nine Months Ended September 30,
	2014			2013
	(in millions)
Balance at January 1	$	116		$	81
Distribution-in-kind	110			46
Gross unrealized losses	(96		)	(13		)
Balance at September 30	$	130		$	114

- 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.

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