Quarterly report pursuant to Section 13 or 15(d)

MARKETABLE SECURITIES (Tables)

v3.8.0.1
MARKETABLE SECURITIES (Tables)
9 Months Ended
Oct. 01, 2017
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:
 
 
 
October 1, 2017
 
December 31, 2016
In millions
 
Cost
 
Gross unrealized
gains/(losses)
 
Estimated
fair value
 
Cost
 
Gross unrealized
gains/(losses)
 
Estimated
fair value
Available-for-sale (1)
 
 

 
 

 
 

 
 

 
 

 
 

Debt mutual funds
 
$
139

 
$

 
$
139

 
$
132

 
$

 
$
132

Bank debentures
 

 

 

 
114

 

 
114

Equity mutual funds
 
12

 
2

 
14

 
12

 

 
12

Government debt securities
 
1

 

 
1

 
2

 

 
2

Total marketable securities
 
$
152

 
$
2

 
$
154

 
$
260

 
$

 
$
260

____________________________________
(1) All marketable securities are classified as Level 2 securities. The fair value of Level 2 securities is estimated using actively quoted prices for similar instruments from brokers and observable inputs where available, including market transactions and third-party pricing services, or net asset values provided to investors. We do not currently have any Level 3 securities and there were no transfers between Level 2 or 3 during the first nine months of 2017 and for the year ended 2016.
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:
 
 
Nine months ended
In millions
 
October 1,
2017
 
October 2,
2016
Proceeds from sales and maturities of marketable securities (1)
 
$
218

 
$
291


____________________________________
(1) Gross realized gains and losses from the sale of available-for-sale securities were immaterial
Summary of fair value of available-for-sale investments with contractual maturities The fair value of available-for-sale investments in debt securities that utilize a Level 2 fair value measure is shown by contractual maturity below: 
Contractual Maturity (In millions)
 
October 1,
2017
1 year or less
 
$
139

1 - 5 years
 
1

Total
 
$
140