Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.3.0.15
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2011
Fair Value Measurements [Abstract]  
Assets and liabilities measured at fair value on a recurring basis
The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of September 30, 2011 (in millions):
 
Level 1

Level 2

Level 3

 
Netting
Adjustment1

Fair Value
Measurements

Assets
 
 
 
 
 
 
Trading securities
$
173

$
21

$
4

 
$
—

$
198

Available-for-sale securities
1,190

21

72

2 

—

1,283

    Derivatives3
33

574

1

 
(152
)
456

Total assets
$
1,396

$
616

$
77

 
$
(152
)
$
1,937

Liabilities
 
 
 
 
 
 
    Derivatives3
$
66

$
198

$
—

 
$
(235
)
$
29

Total liabilities
$
66

$
198

$
—

 
$
(235
)
$
29

1 Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and also cash collateral held or placed with the same counterparties. Refer to Note 5.
2 Primarily related to long-term debt securities that mature in 2018.
3 Refer to Note 5 for additional information related to the composition of our derivative portfolio.
The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of December 31, 2010 (in millions):
 
Level 1

Level 2

Level 3

 
Netting
Adjustment1

Fair Value
Measurements

Assets
 
 
 
 
 
 
Trading securities
$
183

$
23

$
3

 
$
—

$
209

Available-for-sale securities
480

5

—

 
—

485

    Derivatives2
19

151

4

 
(143
)
31

Total assets
$
682

$
179

$
7

 
$
(143
)
$
725

Liabilities
 
 
 
 
 
 
    Derivatives2
$
2

$
382

$
—

 
$
(142
)
$
242

Total liabilities
$
2

$
382

$
—

 
$
(142
)
$
242

1 Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and also cash collateral held or placed with the same counterparties. Refer to Note 5.
Assets measured at fair value on a nonrecurring basis
The gains or losses on assets measured at fair value on a nonrecurring basis are summarized in the table below (in millions):
 
Gains (Losses)  
  
 
Three Months Ended
 
Nine Months Ended
  
 
September 30,
2011

 
October 1,
2010

 
September 30,
2011

 
October 1,
2010

  
Exchange of investment in equity securities
$
—

 
$
—

 
$
418

1 
$
—

  
Equity method investments
(3
)
2 
—

 
(41
)
2 
—

  
Inventories
(5
)
3 
—

 
(12
)
3 
—

  
Cold-drink equipment
—

 
—

 
(1
)
3 
—

  
Retained investment in formerly consolidated subsidiary
—

 
12

4 
—

 
12

4 
Available-for-sale securities
—

  
—

 
—

  
(26
)
5 
Total
$
(8
)
 
$
12

 
$
364

 
$
(14
)