Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.8.0.1
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Fair Value Measurements by Level for Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes fair value measurements by level at September 30, 2017, for assets and liabilities measured at fair value on a recurring basis ($ in millions):  
 
Level I
 
Level II
 
Level III
 
Total
Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
4,281

 
$

 
$

 
$
4,281

Investments available for sale:
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
201

 
$

 
$

 
$
201

Corporate securities

 
2,110

 

 
2,110

Municipal securities

 
1,989

 

 
1,989

Asset-backed securities

 
378

 

 
378

Residential mortgage-backed securities

 
306

 

 
306

Commercial mortgage-backed securities

 
236

 

 
236

Total investments
$
201

 
$
5,019

 
$

 
$
5,220

Restricted deposits available for sale:
 

 
 

 
 

 
 

Cash and cash equivalents
$
6

 
$

 
$

 
$
6

Certificates of deposit
4

 

 

 
4

U.S. Treasury securities and obligations of U.S. government corporations and agencies
128

 

 

 
128

Total restricted deposits
$
138

 
$

 
$

 
$
138

Other long-term assets: Interest rate swap agreements
$

 
$
4

 
$

 
$
4

Total assets at fair value
$
4,620

 
$
5,023

 
$

 
$
9,643

Liabilities
 
 
 
 
 
 
 
Other long-term liabilities:
 
 
 
 
 
 
 
Interest rate swap agreements
$

 
$
53

 
$

 
$
53

Total liabilities at fair value
$

 
$
53

 
$

 
$
53


The following table summarizes fair value measurements by level at December 31, 2016, for assets and liabilities measured at fair value on a recurring basis ($ in millions): 
 
Level I
 
Level II
 
Level III
 
Total
Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
3,930

 
$

 
$

 
$
3,930

Investments available for sale:
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
221

 
$
15

 
$

 
$
236

Corporate securities

 
1,932

 

 
1,932

Municipal securities

 
1,733

 

 
1,733

Asset-backed securities

 
317

 

 
317

Residential mortgage-backed securities

 
215

 

 
215

Commercial mortgage-backed securities

 
338

 

 
338

Total investments
$
221

 
$
4,550

 
$

 
$
4,771

Restricted deposits available for sale:
 

 
 

 
 

 
 

Cash and cash equivalents
$
6

 
$

 
$

 
$
6

Certificates of deposit
5

 

 

 
5

U.S. Treasury securities and obligations of U.S. government corporations and agencies
127

 

 

 
127

Total restricted deposits
$
138

 
$

 
$

 
$
138

Other long-term assets:
 
 
 
 
 
 
 
Interest rate swap agreements
$

 
$
4

 
$

 
$
4

Total assets at fair value
$
4,289

 
$
4,554

 
$

 
$
8,843

Liabilities
 
 
 
 
 
 
 
Other long-term liabilities:
 
 
 
 
 
 
 
Interest rate swap agreements
$

 
$
62

 
$

 
$
62

Total liabilities at fair value
$

 
$
62

 
$

 
$
62