Annual report pursuant to Section 13 and 15(d)

Assets And Liabilities Measured At Fair Value

v3.6.0.2
Assets And Liabilities Measured At Fair Value
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Assets And Liabilities Measured At Fair Value

(7)  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, 2016

 

December 31, 2015

 

 

 

 

 

 

Quoted prices

 

 

 

 

 

Quoted prices

 

 

 

 

 

 

 

 

in active 

 

Significant

 

 

 

in active

 

Significant

 

 

 

 

 

 

markets

 

other

 

 

 

markets

 

other

 

 

 

 

 

 

for identical

 

observable

 

 

 

for identical

 

observable

 

 

 

 

 

 

assets

 

inputs

 

 

 

assets

 

inputs

 

Description

 

Total

 

(Level 1)

 

(Level 2)

 

Total

 

(Level 1)

 

(Level 2)

 

 

 

 amounts in millions

 

Cash equivalents

    

$

625

    

625

    

 —

    

2,225

    

2,225

    

 —

 

Short term marketable securities

 

$

 —

 

 —

 

 —

 

910

 

331

 

579

 

Available-for-sale securities

 

$

1,846

 

1,846

 

 —

 

1,294

 

1,287

 

7

 

Investment in Liberty Broadband

 

$

3,161

 

3,161

 

 —

 

NA

 

NA

 

NA

 

Debt

 

$

1,667

 

 —

 

1,667

 

2,480

 

 —

 

2,480

 

 

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,

 

 

    

2016

    

2015

    

2014

 

 

 

amounts in millions

 

Fair Value Option Securities - AFS

 

$

723

 

84

 

173

 

Fair Value Option Securities - Liberty Broadband

 

 

761

 

NA

 

NA

 

Exchangeable senior debentures

 

 

(308)

 

30

 

(230)

 

Other financial instruments

 

 

(1)

 

 —

 

 —

 

 

 

$

1,175

 

114

 

(57)