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Quarterly report pursuant to Section 13 or 15(d)

Assets And Liabilities Measured At Fair Value

v2.4.0.6
Assets And Liabilities Measured At Fair Value
 9 Months Ended
Sep. 30, 2012
Assets And Liabilities Measured At Fair Value Ìý
Assets And Liabilities Measured At Fair Value
Assets and Liabilities Measured at Fair Value
For assets and liabilities required to be reported at fair value, GAAP provides a hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three broad levels. LevelÌý1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. LevelÌý2 inputs are inputs, other than quoted market prices included within LevelÌý1, that are observable for the asset or liability, either directly or indirectly. LevelÌý3 inputs are unobservable inputs for the asset or liability.
The Company's assets and liabilities measured at fair value are as follows:
Ìý
Ìý
Ìý
Fair Value Measurements at September 30, 2012
Description
Total
Ìý
Quoted prices
in active markets
for identical assets
(LevelÌý1)
Ìý
Significant other
observable
inputs
(LevelÌý2)
Ìý
Significant
unobservable
inputs
(LevelÌý3)
Ìý
Ìý
Ìý
amounts in millions
Cash equivalents
$
1,611

Ìý
1,611

Ìý
—

Ìý
—

Available-for-sale securities
$
1,639

Ìý
1,639

Ìý
—

Ìý
—

Financial instruments, net
$
311

Ìý
282

Ìý
29

Ìý
—

Debt
$
2,837

Ìý
—

Ìý
2,837

Ìý
—


The majority of the Company's LevelÌý2 financial assets and liabilities are debt instruments with quoted market prices that are not considered to be traded on "active markets," as defined in GAAP. Accordingly, the financial instruments are reported in the table above as LevelÌý2 fair value and based on their significance are included in the other current liabilities line item in the condensed consolidated balance sheet.
Realized and Unrealized Gains (Losses) on Financial Instruments
Realized and unrealized gains (losses) on financial instruments are comprised of changes in the fair value of the following:
Ìý
Three months ended
September 30,
Ìý
Nine months ended
September 30,
Ìý
2012
Ìý
2011
Ìý
2012
Ìý
2011
Ìý
amounts in millions
Non-strategic Securities
$
237

Ìý
(239
)
Ìý
418

Ìý
(90
)
Exchangeable senior debentures
(293
)
Ìý
137

Ìý
(510
)
Ìý
(28
)
Other derivatives
(104
)
Ìý
11

Ìý
(246
)
Ìý
57

Ìý
$
(160
)
Ìý
(91
)
Ìý
(338
)
Ìý
(61
)