Investments and Marketable Securities

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Investments and Marketable Securities

Investments and Marketable Securities

Investments in marketable debt securities were classified based on intent and ability to sell investment securities. The Company’s available-for-sale securities were used to fund acquisitions and other operating needs and therefore could be sold prior to maturity.

Changes in the market value of available-for-sale securities were reflected in the accumulated other comprehensive income caption of stockholders’ equity in the Consolidated Balance Sheet. The securities were disposed of during fiscal 2015 and have been released from other comprehensive income. The accumulated changes in market value were transferred to investment income. On the Consolidated Statements of Cash Flows, changes in the balances of available-for-sale securities were shown as purchases, sales and maturities of investments and marketable securities under investing activities.

As of December 31, 2016 and 2015, there were no investments and marketable securities. For the years ended December 31, 2015 and 2014, changes in unrealized gains and losses on available-for-sale securities were immaterial.

Using the specific identification method, there were no proceeds in 2016 and $25 million and $644 million of proceeds in fiscal 2015 and 2014, respectively. There were no material realized gains or losses on the sales of available-for-sale securities for the fiscal years ended 2016, 2015, and 2014.