NOTE 6 — FAIR VALUE MEASUREMENTS
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present the fair value of our financial instruments that are measured at fair value on a recurring basis:
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(In millions)
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Level 1
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Level 2
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Level 3
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Gross
Fair
Value
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Netting
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(a)
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Net Fair
Value
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June 30, 2011
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Assets
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Mutual funds
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$
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1,752
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$
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0
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$
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0
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$
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1,752
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$
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0
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$
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1,752
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Commercial paper
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0
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639
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0
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639
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0
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639
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Certificates of deposit
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0
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598
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0
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598
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0
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598
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U.S. government and agency securities
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23,591
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10,175
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0
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33,766
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0
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33,766
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Foreign government bonds
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303
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367
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0
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670
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0
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670
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Mortgage-backed securities
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0
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2,428
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0
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2,428
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0
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2,428
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Corporate notes and bonds
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0
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10,600
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58
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10,658
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0
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10,658
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Municipal securities
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0
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454
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0
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454
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0
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454
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Common and preferred stock
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9,821
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55
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5
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9,881
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0
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9,881
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Derivatives
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8
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388
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20
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416
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(204
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)
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212
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Total
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$
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35,475
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$
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25,704
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$
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83
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$
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61,262
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$
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(204
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)
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$
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61,058
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Liabilities
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Derivatives and other
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$
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109
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$
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257
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$
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0
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$
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366
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$
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(203
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)
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$
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163
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(In millions)
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Level 1
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Level 2
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Level 3
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Gross
Fair
Value
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Netting
|
(a)
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Net Fair
Value
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June 30, 2010
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Assets
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Mutual funds
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$
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1,120
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$
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0
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$
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0
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$
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1,120
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$
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0
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$
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1,120
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Commercial paper
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0
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172
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0
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172
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0
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172
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Certificates of deposit
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0
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348
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0
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348
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0
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348
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U.S. government and agency securities
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16,473
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4,756
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0
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21,229
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0
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21,229
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Foreign government bonds
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239
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294
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0
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533
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0
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533
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Mortgage-backed securities
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0
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3,264
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0
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3,264
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0
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3,264
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Corporate notes and bonds
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0
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7,460
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167
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7,627
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0
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7,627
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Municipal securities
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0
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747
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0
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747
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0
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747
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Common and preferred stock
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6,988
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43
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5
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7,036
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0
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7,036
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Derivatives
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22
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745
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9
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776
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(207
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)
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569
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Total
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$
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24,842
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$
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17,829
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$
|
181
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$
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42,852
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$
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(207
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)
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$
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42,645
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Liabilities
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Derivatives and other
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$
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85
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$
|
137
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$
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0
|
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$
|
222
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$
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(205
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)
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$
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17
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Directory: investor -> reportsreports -> United States Securities and Exchange Commission Washington, D. C. 20549 form 10-Kreports -> Dear shareholders, customers, partners and colleaguesreports -> To our shareholders, customers, partners and employeesinvestor -> Microsoft Financial Analyst Meeting 2013 Engineer Leader Panel Moderator: Tami Reller Julie Larson-Green, Kirill Tatarinov, Qi Lu, Satya Nadella, Terry Myerson Bellevue, Washington September 19, 2013 chris suh
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