Quarterly report pursuant to Section 13 or 15(d)

Assets And Liabilities Measured At Fair Value

v3.5.0.2
Assets And Liabilities Measured At Fair Value
9 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
Assets And Liabilities Measured At Fair Value

(6)   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

 

Fair Value Measurements at

 

 

 

September 30, 2016

 

December 31, 2015

 

 

    

 

 

    

Quoted

    

 

    

 

    

Quoted

    

 

 

 

 

 

 

 

prices

 

 

 

 

 

prices

 

 

 

 

 

 

 

 

in active

 

Significant

 

 

 

in active

 

Significant

 

 

 

 

 

 

markets for

 

other

 

 

 

markets for

 

other

 

 

 

 

 

 

identical

 

observable

 

 

 

identical

 

observable

 

 

 

 

 

 

assets

 

inputs

 

 

 

assets

 

inputs

 

Description

 

Total

 

(Level 1)

 

(Level 2)

 

Total

 

(Level 1)

 

(Level 2)

 

 

 

amounts in millions

 

Cash equivalents

 

$

295

 

295

 

 —

 

2,225

 

2,225

 

 —

 

Short term marketable securities

 

$

 —

 

 —

 

 —

 

910

 

331

 

579

 

Available-for-sale securities

 

$

1,742

 

1,735

 

7

 

1,294

 

1,287

 

7

 

Investment in Liberty Broadband

 

$

3,051

 

3,051

 

 —

 

NA

 

NA

 

NA

 

Debt

 

$

2,023

 

 —

 

2,023

 

2,480

 

 —

 

2,480

 

 

The majority of the Company's Level 2 financial assets and liabilities are primarily debt instruments with quoted market prices that are not considered to be traded on "active markets," as defined in GAAP. The fair values for such instruments are derived from a typical model using observable market data as the significant inputs. 

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 

 

Nine months ended

 

 

 

September 30,

 

September 30,

 

 

    

2016

    

2015

    

2016

    

2015

 

 

 

amounts in millions

 

Fair Value Option Securities - AFS

 

$

260

 

(78)

 

608

 

70

 

Fair Value Option Securities - Liberty Broadband

 

 

490

 

NA

 

651

 

NA

 

Exchangeable senior debentures

 

 

(138)

 

148

 

(313)

 

28

 

Other financial instruments

 

 

(6)

 

 —

 

(4)

 

 —

 

 

 

$

606

 

70

 

942

 

98