Quarterly report pursuant to Section 13 or 15(d)

MARKETABLE SECURITIES (Tables)

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MARKETABLE SECURITIES (Tables)
6 Months Ended
Jun. 28, 2015
Investments, Debt and Equity Securities [Abstract]  
Summary of marketable securities
A summary of marketable securities, all of which are classified as current, was as follows:
 
 
 
June 28, 2015
 
December 31, 2014
In millions
 
Cost
 
Gross unrealized
gains/(losses)
 
Estimated
fair value
 
Cost
 
Gross unrealized
gains/(losses)
 
Estimated
fair value
Available-for-sale
 
 

 
 

 
 

 
 

 
 

 
 

Level 2(1)
 
 
 
 
 
 
 
 
 
 
 
 
Debt mutual funds
 
$
64

 
$

 
$
64

 
$
75

 
$
1

 
$
76

Equity mutual funds
 
9

 

 
9

 
9

 

 
9

Bank debentures
 
13

 

 
13

 
6

 

 
6

Government debt securities
 
3

 

 
3

 
2

 

 
2

Total marketable securities
 
$
89

 
$

 
$
89

 
$
92

 
$
1

 
$
93

____________________________________
(1) The fair value of Level 2 securities is estimated primarily using actively quoted prices for similar instruments from brokers and observable inputs, including market transactions and third-party pricing services. We do not currently have any Level 3 securities, and there were no transfers between Level 2 or 3 during the first half of 2015 and 2014.  

Schedule of proceeds from sales and maturities and gross realized gains and losses
The proceeds from sales and maturities of marketable securities and gross realized gains and losses from the sale of available-for-sale securities were as follows:
 
 
Three months ended
 
Six months ended
In millions
 
June 28,
2015
 
June 29,
2014
 
June 28,
2015
 
June 29,
2014
Proceeds from sales and maturities of marketable securities
 
$
84

 
$
71

 
$
155

 
$
179

Gross realized gains from the sale of available-for-sale securities
 

 
12

 
1

 
13

Summary of fair value of available-for-sale investments with contractual maturities
At June 28, 2015, the fair value of available-for-sale investments in debt securities that utilize a Level 2 fair value measure by contractual maturity was as follows:
 
Maturity date
 
Fair value
(in millions)
1 year or less
 
$
66

1 - 5 years
 
11

5 - 10 years
 
3

Total
 
$
80