Annual report pursuant to Section 13 and 15(d)

MARKETABLE SECURITIES

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MARKETABLE SECURITIES
 12 Months Ended
Dec. 31, 2013
Marketable Securities [Abstract]  
MARKETABLE SECURITIES
NOTE 5. MARKETABLE SECURITIES
A summary of marketable securities, all of which are classified as current, was as follows:
 
December 31,
 
2013
 
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)
$
99

 
$
2

 
$
101

 
$
139

 
$
3

 
$
142

Bank debentures
2

 
—

 
2

 
45

 
—

 
45

Certificates of deposit
22

 
—

 
22

 
47

 
—

 
47

Government debt securities-non-U.S.
3

 
(1
)
 
2

 
3

 
—

 
3

Corporate debt securities
—

 
—

 
—

 
1

 
—

 
1

Equity securities and other(2)
10

 
13

 
23

 
—

 
9

 
9

Total marketable securities
$
136

 
$
14

 
$
150

 
$
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.

The proceeds from sales and maturities of marketable securities and gross realized gains from the sale of AFS securities were as follows:
In millions
 
2013
 
2012
 
2011
Proceeds from sales and maturities of marketable securities
 
$
525

 
$
585

 
$
750

Gross realized gains from the sale of available-for-sale securities(1)
 
14

 
3

 
3

____________________________________________________
(1) Gross realized losses from the sale of available-for-sale securities were immaterial.
At December 31, 2013, the fair value of AFS investments in debt securities by contractual maturity was as follows:
 
Fair value
Maturity date
(in millions)
1 year or less
$
50

1 - 5 years
4

5 - 10 years
1

Total
$
55