QUEST DIAGNOSTICS INC | 2013 | FY | 3


The following table provides a summary of the recognized assets and liabilities that are measured at fair value on a recurring basis:
 
 
 
Basis of Fair Value Measurements
 
 
 
Quoted
Prices in
Active
Markets for
Identical
Assets /
Liabilities
 
Significant
Other
Observable
Inputs
 
Significant
Unobservable
Inputs
December 31, 2013
Total
 
Level 1
 
Level 2
 
Level 3
Assets:
 

 
 

 
 

 
 

Trading securities
$
50

 
$
50

 
$

 
$

Cash surrender value of life insurance policies
29

 

 
29

 

Put Option
4

 

 

 
4

Forward starting interest rate swaps
2

 

 
2

 

 
 
 
 
 
 
 
 
Total
$
85

 
$
50

 
$
31

 
$
4

 
 
 
 
 
 
 
 
Liabilities:
 

 
 

 
 

 
 

Deferred compensation liabilities
$
84

 
$

 
$
84

 
$

Interest rate swaps
34

 

 
34

 

Call option
8

 

 

 
8

 
 
 
 
 
 
 
 
Total
$
126

 
$

 
$
118

 
$
8

 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
Assets:
 

 
 
 
 
 
 
Trading securities
$
52

 
$
52

 
$

 
$

Cash surrender value of life insurance policies
25

 

 
25

 

Interest rate swaps
1

 

 
1

 

Available-for-sale equity securities
1

 

 

 
1

 
 
 
 
 
 
 
 
Total
$
79

 
$
52

 
$
26

 
$
1

 
 
 
 
 
 
 
 
Liabilities:
 

 
 

 
 

 
 

Deferred compensation liabilities
$
82

 
$

 
$
82

 
$

Interest rate swaps
3

 

 
3

 

 
 
 
 
 
 
 
 
Total
$
85

 
$

 
$
85

 
$



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