Quarterly report pursuant to Section 13 or 15(d)

MARKETABLE SECURITIES

v2.4.0.8
MARKETABLE SECURITIES
 6 Months Ended
Jun. 30, 2013
MARKETABLE SECURITIES  
MARKETABLE SECURITIES

NOTE 7.  MARKETABLE SECURITIES

 

A summary of marketable securities, all of which are classified as current, was as follows:

 

 

 

June 30, 2013

 

December 31, 2012

 

In millions

 

Cost

 

Gross unrealized
gains/(losses)

 

Estimated
fair value

 

Cost

 

Gross unrealized
gains/(losses)

 

Estimated
fair value

 

Available-for-sale

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt mutual funds(1)

 

$

116

 

$

1

 

$

117

 

$

139

 

$

3

 

$

142

 

Bank debentures

 

12

 

—

 

12

 

45

 

—

 

45

 

Certificates of deposit

 

51

 

—

 

51

 

47

 

—

 

47

 

Government debt securities-non-U.S.

 

3

 

—

 

3

 

3

 

—

 

3

 

Corporate debt securities

 

1

 

—

 

1

 

1

 

—

 

1

 

Equity securities and other(2)

 

12

 

9

 

21

 

—

 

9

 

9

 

Total marketable securities

 

$

195

 

$

10

 

$

205

 

$

235

 

$

12

 

$

247

 

 

(1) Contractual maturities are only applicable to debt mutual funds that utilize a Level 2 fair value.

(2) In the first quarter of 2013 we realized a $9 million gain on the sale of equity securities.

 

At June 30, 2013, the fair value of available-for-sale investments with contractual maturities was as follows:

 

Maturity date

 

 

 

In millions

 

Fair value

 

1 year or less

 

$

82

 

1-5 years

 

5

 

5-10 years

 

1

 

Total

 

$

88