Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.19.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2019
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 March 31, 2019, 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
$
6,345

 
$

 
$

 
$
6,345

Investments available for sale:
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
149

 
$

 
$

 
$
149

Corporate securities

 
3,342

 

 
3,342

Municipal securities

 
2,290

 

 
2,290

Asset-backed securities

 
728

 

 
728

Residential mortgage-backed securities

 
455

 

 
455

Commercial mortgage-backed securities

 
380

 

 
380

Total investments
$
149

 
$
7,195

 
$

 
$
7,344

Restricted deposits available for sale:
 

 
 

 
 

 
 

Cash and cash equivalents
$
6

 
$

 
$

 
$
6

Certificates of deposit

 
474

 

 
474

U.S. Treasury securities and obligations of U.S. government corporations and agencies
102

 

 

 
102

Total restricted deposits
$
108

 
$
474

 
$

 
$
582

 
 
 
 
 
 
 
 
Total assets at fair value
$
6,602

 
$
7,669

 
$

 
$
14,271

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

 
$
61

 
$

 
$
61

Total liabilities at fair value
$

 
$
61

 
$

 
$
61










The following table summarizes fair value measurements by level at December 31, 2018, 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
$
5,342

 
$

 
$

 
$
5,342

Investments available for sale:
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
247

 
$

 
$

 
$
247

Corporate securities

 
3,146

 

 
3,146

Municipal securities

 
2,187

 

 
2,187

Asset-backed securities

 
683

 

 
683

Residential mortgage-backed securities

 
444

 

 
444

Commercial mortgage-backed securities

 
361

 

 
361

Total investments
$
247

 
$
6,821

 
$

 
$
7,068

Restricted deposits available for sale:
 

 
 

 
 

 
 

Cash and cash equivalents
$
8

 
$

 
$

 
$
8

Certificates of deposit

 
433

 

 
433

U.S. Treasury securities and obligations of U.S. government corporations and agencies
114

 

 

 
114

Total restricted deposits
$
122

 
$
433

 
$

 
$
555

 
 
 
 
 
 
 
 
Total assets at fair value
$
5,711

 
$
7,254

 
$

 
$
12,965

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

 
$
95

 
$

 
$
95

Total liabilities at fair value
$

 
$
95

 
$

 
$
95