Annual report pursuant to Section 13 and 15(d)

MARKETABLE SECURITIES

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MARKETABLE SECURITIES
 12 Months Ended
Dec. 31, 2011
MARKETABLE SECURITIES  
MARKETABLE SECURITIES

NOTE 5. MARKETABLE SECURITIES

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

 
   December 31,  
 
   2011   2010  
In millions
   Cost   Gross unrealized
gains/(losses) 		  Estimated fair
value 		  Cost   Gross unrealized
gains/(losses) 		  Estimated fair
value 		 

Available-for-sale

                                      

Debt mutual funds

   $ 115   $ 2   $ 117   $ 179   $ 1   $ 180  

Bank debentures

     82     —     82     85     —     85  

Certificates of deposit

     66     —     66     59     —     59  

Government debt securities—non-U.S. 

     3     —     3     4     (1 )   3  

Corporate debt securities

     2     —     2     2     —     2  

Equity securities and other

     —     7     7     —     10     10  
                           

Total marketable securities

   $ 268   $ 9   $ 277   $ 329   $ 10   $ 339  
                           

        Proceeds from sales and maturities of marketable securities were $ 750 million, $ 690 million and $ 335 million in 2011, 2010 and 2009, respectively. Gross realized gains from the sale of available-for-sale securities were $3 million for the year ended 2011, less than $1 million for the year ended 2010 and $2 million for the year ended 2009. Gross realized losses from the sale of available-for-sale securities were less than $1 million for the years ended December 31, 2011, 2010 and 2009.

        At December 31, 2011, the fair value of available-for-sale investments in debt securities by contractual maturity is as follows:

Maturity date
  Fair value  

In millions

        

1 year or less

   $ 29  

1 - 5 years

     56  

5 - 10 years

     1  

After 10 years

     1  
       

Total

   $ 87