Annual report pursuant to Section 13 and 15(d)

MARKETABLE SECURITIES (Details)

v3.3.1.900
MARKETABLE SECURITIES (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Available-for-sale Securities      
Cost $ 101 $ 92  
Gross Unrealized Gain (Loss) (1) 1  
Estimated fair value 100 93  
Proceeds from sales and maturities of marketable securities 270 336 $ 525
Gross realized gains from the sale of available-for-sale securities [1] $ 1 14 $ 14
Summary of marketable securities
A summary of marketable securities, all of which are classified as current, was as follows:
 
 
December 31,
 
 
2015
 
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
 
$
88

 
$
—

 
$
88

 
$
75

 
$
1

 
$
76

Equity mutual funds
 
11

 
(1
)
 
10

 
9

 
—

 
9

Bank debentures
 
—

 
—

 
—

 
6

 
—

 
6

Government debt securities
 
2

 
—

 
2

 
2

 
—

 
2

Total Level 2
 
101

 
(1
)
 
100

 
92

 
1

 
93

Total marketable securities
 
$
101

 
$
(1
)
 
$
100

 
$
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 2015 and 2014.
   
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]      
1 year or less $ 88    
1-5 years 1    
5-10 years 1    
Total 90    
Significant other observable inputs Level 2      
Schedule of Available-for-sale Securities      
Cost [2] 101 92  
Gross Unrealized Gain (Loss) [2] (1) 1  
Estimated fair value [2] 100 93  
Significant other observable inputs Level 2 | Debt mutual funds      
Schedule of Available-for-sale Securities      
Cost [2] 88 75  
Gross Unrealized Gain (Loss) [2] 0 1  
Estimated fair value [2] 88 76  
Significant other observable inputs Level 2 | Equity Funds      
Schedule of Available-for-sale Securities      
Cost [2] 11 9  
Gross Unrealized Gain (Loss) [2] (1) 0  
Estimated fair value [2] 10 9  
Significant other observable inputs Level 2 | Bank debentures      
Schedule of Available-for-sale Securities      
Cost [2] 0 6  
Gross Unrealized Gain (Loss) [2] 0 0  
Estimated fair value [2] 0 6  
Significant other observable inputs Level 2 | Government debt securities-non-U.S.      
Schedule of Available-for-sale Securities      
Cost [2] 2 2  
Gross Unrealized Gain (Loss) [2] 0 0  
Estimated fair value [2] $ 2 $ 2  
Minimum      
Schedule of Available-for-sale Securities      
Bank debentures and certificates of deposit period of maturity 6 months    
Maximum      
Schedule of Available-for-sale Securities      
Bank debentures and certificates of deposit period of maturity 5 years    
[1] Gross realized losses from the sale of available-for-sale securities were immaterial.
[2] 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 2015 and 2014.