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Annual report pursuant to Section 13 and 15(d)

Assets And Liabilities Measured At Fair Value

v2.4.0.6
Assets And Liabilities Measured At Fair Value
 12 Months Ended
Dec. 31, 2011
Assets And Liabilities Measured At Fair Value Ìý
Assets And Liabilities Measured At Fair Value
Assets and Liabilities Measured at Fair Value
For assets and liabilities required to be reported at fair value, GAAP provides a hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three broad levels. LevelÌý1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. LevelÌý2 inputs are inputs, other than quoted market prices included within LevelÌý1, that are observable for the asset or liability, either directly or indirectly. LevelÌý3 inputs are unobservable inputs for the asset or liability.
The Company's assets and liabilities measured at fair value are as follows:
Ìý
December 31, 2011
Ìý
December 31, 2010
Description
Total
Ìý
Quoted prices
in active markets
for identical assets
(LevelÌý1)
Ìý
Significant other
observable
inputs
(LevelÌý2)
Ìý
Significant
unobservable
inputs
(LevelÌý3)
Ìý
Total
Ìý
Quoted prices
in active markets
for identical assets
(LevelÌý1)
Ìý
Significant other
observable
inputs
(LevelÌý2)
Ìý
Significant
unobservable
inputs
(LevelÌý3)
Ìý
Ìýamounts in millions
Short term marketable securities
$
46

Ìý
—

Ìý
46

Ìý
—

Ìý
—

Ìý
—

Ìý
—

Ìý
—

Available-for-sale securities
$
1,165

Ìý
1,165

Ìý
—

Ìý
—

Ìý
1,109

Ìý
1,109

Ìý
—

Ìý
—

Financial instruments
$
61

Ìý
—

Ìý
61

Ìý
—

Ìý
128

Ìý
—

Ìý
128

Ìý
—

Debt
$
2,443

Ìý
—

Ìý
2,443

Ìý
—

Ìý
2,506

Ìý
—

Ìý
2,506

Ìý
—


The majority of the Company's LevelÌý2 financial assets and liabilities are debt instruments with quoted market prices that are not considered to be traded on "active markets," as defined in GAAP. Accordingly, the financial instruments are reported in the foregoing table as LevelÌý2 fair value.