in Venezuela is also evaluating which of these rates is the most appropriate to use for the remeasurement of the net monetary assets of their Venezuelan subsidiary in the future. 

In addition to the foreign currency exchange exposure related to our Venezuelan subsidiary's net monetary assets, we also sell concentrate to our bottling partner in Venezuela from outside the country. These sales are denominated in U.S. dollars. During the year ended December 31, 2014, as a result of the continued lack of liquidity and our revised assessment of the U.S. dollar value we expect to realize upon the conversion of Venezuelan bolivars into U.S. dollars by our bottling partner to pay our concentrate sales receivables, we recorded a write-down of $296 million recorded in the line item other operating charges in our consolidated statement of income. 

We also have certain U.S. dollar denominated intangible assets associated with products sold in Venezuela. In January 2014, the Venezuelan government enacted a new law which imposes limits on profit margins earned in the country, reducing the Company's cash flows for as long as the law remains in effect. As a result of this law and the Company's revised expectations regarding the convertibility of the local currency, we recognized an impairment charge of $18 million during the year ended December 31, 2014, recorded in the line item other operating charges in our consolidated statement of income. Further government regulation or changes in exchange rates could result in additional impairments of these intangible assets. 

As of December 31, 2014, the combined value of the net monetary assets of our Venezuelan subsidiary, the concentrate sales receivables from our bottling partner and the intangible assets associated with products sold in Venezuela was $180 million. Included in this combined value is $52 million of cash and cash equivalents. Despite the additional currency conversion mechanisms, the Company's ability to pay dividends from Venezuela is still restricted due to the low volume of U.S. dollars available for conversion. If the bolivar devalues further, it would likely result in our Company recognizing additional foreign currency exchange losses, write-downs of receivables or impairment charges and our share of any charges recorded by our equity method investee. 

Impact of Inflation and Changing Prices 

Inflation affects the way we operate in many markets around the world. In general, we believe that, over time, we are able to increase prices to counteract the majority of the inflationary effects of increasing costs and to generate sufficient cash flows to maintain our productive capability. 

Cashandcashequivalents,short-terminvestmentsandmarketablesecuritiesincreased$1,407million,or7percent,asacombinedgroup.ThisincreasereflectstheCompany'soverallcash management strategy. A majority of the Company's consolidated cash and cash equivalents, short-term investments and marketable securities are held by foreign subsidiaries. 

Tradeaccountsreceivable—netdecreased$407million,or8percent,primarilyduetothewrite-downofconcentratesalesreceivablesfromourbottlingpartnerin V enezuela.