Quarterly report pursuant to Section 13 or 15(d)

Assets And Liabilities Measured At Fair Value

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Assets And Liabilities Measured At Fair Value
 3 Months Ended
Mar. 31, 2013
Assets And Liabilities Measured At Fair Value  
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. Level 1 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. Level 2 inputs are inputs, other than quoted market prices included within Level 1, that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability.
The Company's assets and liabilities measured at fair value are as follows:
 
 
 
Fair Value Measurements at March 31, 2013
Description
Total
 
Quoted prices
in active markets
for identical assets
(Level 1)
 
Significant other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
 
 
 
amounts in millions
Cash equivalents
$
1,012

 
970

 
42

 
—

Available-for-sale securities
$
2,373

 
1,857

 
516

 
—

Debt
$
2,813

 
—

 
2,813

 
—


The majority of the Company's Level 2 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.
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:
 
Three months ended
March 31,
 
2013
 
2012
 
amounts in millions
Fair Value Option Securities
$
224

 
140

Exchangeable senior debentures
(310
)
 
(182
)
Other derivatives
13

 
24

 
$
(73
)
 
(18
)