Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.2.0.727
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2015
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 June 30, 2015, 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
$
1,967

 
$

 
$

 
$
1,967

Investments available for sale:
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
433

 
$
3

 
$

 
$
436

Corporate securities

 
632

 

 
632

Municipal securities:
 

 
 

 
 

 
 
General obligation

 
96

 

 
96

Pre-refunded

 
4

 

 
4

Revenue

 
161

 

 
161

Variable rate demand notes

 
28

 

 
28

Asset backed securities

 
162

 

 
162

Mortgage backed securities

 
78

 

 
78

Total investments
$
433

 
$
1,164

 
$

 
$
1,597

Restricted deposits available for sale:
 

 
 

 
 

 
 

Cash and cash equivalents
$
80

 
$

 
$

 
$
80

Certificates of deposit
6

 

 

 
6

U.S. Treasury securities and obligations of U.S. government corporations and agencies
15

 

 

 
15

Total restricted deposits
$
101

 
$

 
$

 
$
101

Other long term assets: Interest rate swap agreements
$

 
$
10

 
$

 
$
10

Total assets at fair value
$
2,501

 
$
1,174

 
$

 
$
3,675

Liabilities
 
 
 
 
 
 
 
Other long term liabilities:
      Interest rate swap agreements
$

 
$
5

 
$

 
$
5

Total liabilities at fair value
$

 
$
5

 
$

 
$
5


The following table summarizes fair value measurements by level at December 31, 2014, 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
$
1,610

 
$

 
$

 
$
1,610

Investments available for sale:
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
360

 
$
17

 
$

 
$
377

Corporate securities

 
556

 

 
556

Municipal securities:
 

 
 

 
 

 
 
General obligation

 
54

 

 
54

Pre-refunded

 
5

 

 
5

Revenue

 
102

 

 
102

Variable rate demand notes

 
14

 

 
14

Asset backed securities

 
180

 

 
180

Mortgage backed securities

 
85

 

 
85

Total investments
$
360

 
$
1,013

 
$

 
$
1,373

Restricted deposits available for sale:
 

 
 

 
 

 
 

Cash and cash equivalents
$
79

 
$

 
$

 
$
79

Certificates of deposit
6

 

 

 
6

U.S. Treasury securities and obligations of U.S. government corporations and agencies
15

 

 

 
15

Total restricted deposits
$
100

 
$

 
$

 
$
100

Other long term assets: Interest rate swap agreements
$

 
$
11

 
$

 
$
11

Total assets at fair value
$
2,070

 
$
1,024

 
$

 
$
3,094