麻豆app

Quarterly report pursuant to Section 13 or 15(d)

Assets And Liabilities Measured At Fair Value (Tables)

v3.3.0.814
Assets And Liabilities Measured At Fair Value (Tables)
9 Months Ended
Sep. 30, 2015
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value

Fair听Value听Measurements听at

Fair听Value听Measurements听at

September 30, 2015

December 31, 2014

听听听听

听听听听

Quoted

听听听听

听听听听

听听听听

Quoted

听听听听

听听

prices

prices

in听active

Significant

in听active

Significant

markets

other

markets

other

for听identical

observable

for听identical

observable

assets

inputs

assets

inputs

Description

Total

(Level听1)

(Level听2)

Total

(Level听1)

(Level听2)

amounts听in听millions

Cash equivalents

$

393

393

听鈥�

507

507

听鈥�

Short term marketable securities

$

19

听鈥�

19

199

听鈥�

199

Available-for-sale securities

$

485

436

49

769

691

78

Financial instrument assets

$

310

148

162

305

96

209

Debt

$

960

听鈥�

960

990

听鈥�

990

Realized and Unrealized Gains (Losses) on Financial Instruments

Three months ended听

Nine months ended

September 30,

September 30,

听听听听

2015

听听听听

2014

听听听听

2015

听听听听

2014

amounts听in听millions

Fair Value Option Securities

$

(117)

(30)

(139)

33

Cash convertible notes (a)

(19)

41

30

18

Change in fair value of bond hedges (a)

(9)

(24)

(47)

(112)

Other derivatives (b)

(55)

(2)

(32)

6

$

(200)

(15)

(188)

(55)


(a)

麻豆app issued $1 billion of cash convertible notes in October 2013 which are accounted for at fair value (Level 2), as elected by 麻豆app at the issuance of the notes. Contemporaneously with the issuance of the convertible notes, 麻豆app entered into privately negotiated cash convertible note hedges, which are expected to offset potential cash payments 麻豆app would be required to make in excess of the principal amount of the convertible notes, upon conversion of the notes. The bond hedges are marked to market based on the trading price of underlying securities and other observable market data as the significant inputs (Level 2). See note 8 for additional discussion of the convertible notes and the bond hedges.听

Derivatives are marked to market based on the trading price of underlying securities and other observable market data as the significant inputs (Level 2). During September 2014, 麻豆app entered into a forward contract to acquire up to 15.9 million shares of Live Nation common stock. Prior to the contract鈥檚 original expiration during March 2015, the Company extended the contract through October 15, 2015 with the expiration to occur on the sixtieth day following the completion of the counterparty鈥檚 initial hedge, which will be November 27, 2015. The counterparty acquired the maximum number of Live Nation shares of common stock at a volume weighted average share price of $24.91 per share during September 2015. Although the contract will expire during November, 麻豆app has until December 2, 2015 to settle the contract.