Annual report pursuant to Section 13 and 15(d)

Assets And Liabilities Measured At Fair Value

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Assets And Liabilities Measured At Fair Value
 12 Months Ended
Dec. 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, other than quoted market prices included within Level 1, are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company does not have any recurring assets or liabilities measured at fair value that would be considered Level 3.
The Company's assets and liabilities measured at fair value are as follows:
 
December 31, 2013
 
December 31, 2012
Description
Total
 
Quoted prices
in active markets
for identical assets
(Level 1)
 
Significant other
observable
inputs
(Level 2)
 
Total
 
Quoted prices
in active markets
for identical assets
(Level 1)
 
Significant other
observable
inputs
(Level 2)
 
 amounts in millions
Cash equivalents
$
918

 
918

 
—

 
2,316

 
2,305

 
11

Short term marketable securities
$
543

 
62

 
481

 
186

 
—

 
186

Available-for-sale securities
$
1,497

 
1,047

 
450

 
1,815

 
1,668

 
147

Debt
$
2,355

 
—

 
2,355

 
2,930

 
—

 
2,930


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. Accordingly, the debt instruments are reported in the foregoing table as Level 2 fair value.
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:
 
 
Years ended December 31,
 
 
2013
 
2012
 
2011
 
amounts in millions
Fair Value Option Securities
 
$
514

 
470

 
55

Exchangeable senior debentures
 
(553
)
 
(602
)
 
(46
)
Other financial instruments
 
17

 
(219
)
 
75

 
 
$
(22
)
 
(351
)
 
84