NOTE 11. Marketable Securities

The Company invests in asset-backed securities, certificates of deposit/time deposits, commercial paper, and other securities. The following is a summary of amounts recorded on the Consolidated Balance Sheet for marketable securities (current and non-current).


(Millions)	December 31, 2018		December 31, 2017
Corporate debt securities	$	—	$	14
Commercial paper		366		899
Certificates of deposit/time deposits		10		76
U.S. municipal securities		3		3
Asset-backed securities:
Automobile loan related		1		16
Credit card related		—		68
Asset-backed securities total		1		84
Current marketable securities	$	380	$	1,076

U.S. municipal securities	$	37	$	27
Non-current marketable securities	$	37	$	27

Total marketable securities	$	417	$	1,103

At December 31, 2018 and 2017, gross unrealized, gross realized, and net realized gains and/or losses (pre-tax) were not material.

The balance at December 31, 2018, for marketable securities by contractual maturity are shown below. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.


(Millions)	December 31, 2018
Due in one year or less	$	380
Due after one year through five years		13
Due after five years through ten years		15
Due after ten years		9
Total marketable securities	$	417

3M does not currently expect risk related to its holding in asset-backed securities to materially impact its financial condition or liquidity.