Xerox 2015 Annual Report Download - page 123

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Summary of Other Financial Assets and Liabilities Fair Value Measured on a Nonrecurring Basis
The estimated fair values of our other financial assets and liabilities fair value measured on a nonrecurring basis
were as follows:
December 31, 2015 December 31, 2014
Carrying
Amount
Fair
Value
Carrying
Amount
Fair
Value
Cash and cash equivalents $1,368 $1,368 $1,411 $1,411
Accounts receivable, net 2,319 2,319 2,652 2,652
Short-term debt 985 976 1,427 1,417
Long-term debt 6,382 6,395 6,314 6,719
The fair value amounts for Cash and cash equivalents and Accounts receivable, net, approximate carrying amounts
due to the short maturities of these instruments. The fair value of Short and Long-term debt was estimated based on
the current rates offered to us for debt of similar maturities (Level 2). The difference between the fair value and the
carrying value represents the theoretical net premium or discount we would pay or receive to retire all debt at such
date.
Xerox 2015 Annual Report 106