| Investment Components |
The components of investments were as follows:
|
(In millions) |
|
Fair Value
Level |
|
|
Adjusted
Cost Basis |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Recorded
Basis |
|
|
Cash
and Cash
Equivalents |
|
|
Short-term
Investments |
|
|
Equity
Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Other Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper |
|
Level 2 |
|
|
$ |
8,183 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
8,183 |
|
|
$ |
4,686 |
|
|
$ |
3,497 |
|
|
$ |
0 |
|
|
Certificates of deposit |
|
Level 2 |
|
|
|
3,054 |
|
|
|
0 |
|
|
|
0 |
|
|
|
3,054 |
|
|
|
2,809 |
|
|
|
245 |
|
|
|
0 |
|
|
U.S. government securities |
|
Level 1 |
|
|
|
89,437 |
|
|
|
3,382 |
|
|
|
(134 |
) |
|
|
92,685 |
|
|
|
3 |
|
|
|
92,682 |
|
|
|
0 |
|
|
U.S. agency securities |
|
Level 2 |
|
|
|
2,943 |
|
|
|
1 |
|
|
|
0 |
|
|
|
2,944 |
|
|
|
1,119 |
|
|
|
1,825 |
|
|
|
0 |
|
|
Foreign government bonds |
|
Level 2 |
|
|
|
3,130 |
|
|
|
6 |
|
|
|
(4 |
) |
|
|
3,132 |
|
|
|
2,487 |
|
|
|
645 |
|
|
|
0 |
|
|
Mortgage- and asset-backed securities |
|
Level 2 |
|
|
|
3,461 |
|
|
|
20 |
|
|
|
(7 |
) |
|
|
3,474 |
|
|
|
0 |
|
|
|
3,474 |
|
|
|
0 |
|
|
Corporate notes and bonds |
|
Level 2 |
|
|
|
8,346 |
|
|
|
205 |
|
|
|
(13 |
) |
|
|
8,538 |
|
|
|
0 |
|
|
|
8,538 |
|
|
|
0 |
|
|
Corporate notes and bonds |
|
Level 3 |
|
|
|
53 |
|
|
|
0 |
|
|
|
0 |
|
|
|
53 |
|
|
|
0 |
|
|
|
53 |
|
|
|
0 |
|
|
Municipal securities |
|
Level 2 |
|
|
|
306 |
|
|
|
58 |
|
|
|
0 |
|
|
|
364 |
|
|
|
0 |
|
|
|
364 |
|
|
|
0 |
|
|
Municipal securities |
|
Level 3 |
|
|
|
103 |
|
|
|
0 |
|
|
|
(7 |
) |
|
|
96 |
|
|
|
0 |
|
|
|
96 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt investments |
|
|
|
|
$ |
119,016 |
|
|
$ |
3,672 |
|
|
$ |
(165 |
) |
|
$ |
122,523 |
|
|
$ |
11,104 |
|
|
$ |
111,419 |
|
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Net Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity investments |
|
Level 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,781 |
|
|
$ |
1,198 |
|
|
$ |
0 |
|
|
$ |
583 |
|
|
Equity investments |
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,810 |
|
|
|
0 |
|
|
|
0 |
|
|
|
5,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,591 |
|
|
$ |
1,198 |
|
|
$ |
0 |
|
|
$ |
6,393 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,863 |
|
|
$ |
6,863 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
Derivatives, net (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31 |
|
|
|
0 |
|
|
|
31 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
137,008 |
|
|
$ |
19,165 |
|
|
$ |
111,450 |
|
|
$ |
6,393 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
Fair Value
Level |
|
|
Adjusted
Cost Basis |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Recorded
Basis |
|
|
Cash
and Cash
Equivalents |
|
|
Short-term
Investments |
|
|
Equity
Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Other Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper |
|
Level 2 |
|
|
$ |
4,316 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
4,316 |
|
|
$ |
1,331 |
|
|
$ |
2,985 |
|
|
$ |
0 |
|
|
Certificates of deposit |
|
Level 2 |
|
|
|
3,615 |
|
|
|
0 |
|
|
|
0 |
|
|
|
3,615 |
|
|
|
2,920 |
|
|
|
695 |
|
|
|
0 |
|
|
U.S. government securities |
|
Level 1 |
|
|
|
90,664 |
|
|
|
3,832 |
|
|
|
(111 |
) |
|
|
94,385 |
|
|
|
1,500 |
|
|
|
92,885 |
|
|
|
0 |
|
|
U.S. agency securities |
|
Level 2 |
|
|
|
807 |
|
|
|
2 |
|
|
|
0 |
|
|
|
809 |
|
|
|
0 |
|
|
|
809 |
|
|
|
0 |
|
|
Foreign government bonds |
|
Level 2 |
|
|
|
6,213 |
|
|
|
9 |
|
|
|
(2 |
) |
|
|
6,220 |
|
|
|
225 |
|
|
|
5,995 |
|
|
|
0 |
|
|
Mortgage- and asset-backed securities |
|
Level 2 |
|
|
|
3,442 |
|
|
|
22 |
|
|
|
(6 |
) |
|
|
3,458 |
|
|
|
0 |
|
|
|
3,458 |
|
|
|
0 |
|
|
Corporate notes and bonds |
|
Level 2 |
|
|
|
8,443 |
|
|
|
249 |
|
|
|
(9 |
) |
|
|
8,683 |
|
|
|
0 |
|
|
|
8,683 |
|
|
|
0 |
|
|
Corporate notes and bonds |
|
Level 3 |
|
|
|
63 |
|
|
|
0 |
|
|
|
0 |
|
|
|
63 |
|
|
|
0 |
|
|
|
63 |
|
|
|
0 |
|
|
Municipal securities |
|
Level 2 |
|
|
|
308 |
|
|
|
63 |
|
|
|
0 |
|
|
|
371 |
|
|
|
0 |
|
|
|
371 |
|
|
|
0 |
|
|
Municipal securities |
|
Level 3 |
|
|
|
95 |
|
|
|
0 |
|
|
|
(7 |
) |
|
|
88 |
|
|
|
0 |
|
|
|
88 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt investments |
|
|
|
|
$ |
117,966 |
|
|
$ |
4,177 |
|
|
$ |
(135 |
) |
|
$ |
122,008 |
|
|
$ |
5,976 |
|
|
$ |
116,032 |
|
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Net Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity investments |
|
Level 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,582 |
|
|
$ |
976 |
|
|
$ |
0 |
|
|
$ |
606 |
|
|
Equity investments |
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,378 |
|
|
|
0 |
|
|
|
0 |
|
|
|
5,378 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,960 |
|
|
$ |
976 |
|
|
$ |
0 |
|
|
$ |
5,984 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,272 |
|
|
$ |
7,272 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
Derivatives, net (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
78 |
|
|
|
0 |
|
|
|
78 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
136,318 |
|
|
$ |
14,224 |
|
|
$ |
116,110 |
|
|
$ |
5,984 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Refer to Note 5 – Derivatives for further information on the fair value of our derivative instruments. |
|
| Unrealized Losses on Debt Investments |
Debt investments with continuous unrealized losses for less than 12 months and 12 months or greater and their related fair values were as follows:
|
|
|
Less than 12 Months |
|
|
12 Months or Greater |
|
|
|
|
|
|
|
Total
Unrealized
Losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
|
Fair Value |
|
|
|
Unrealized
Losses |
|
|
|
Fair Value |
|
|
|
Unrealized
Losses |
|
|
|
Total
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government and agency securities |
|
$ |
5,420 |
|
|
$ |
(98 |
) |
|
$ |
604 |
|
|
$ |
(36 |
) |
|
$ |
6,024 |
|
|
$ |
(134 |
) |
|
Foreign government bonds |
|
|
1,215 |
|
|
|
(3 |
) |
|
|
8 |
|
|
|
(1 |
) |
|
|
1,223 |
|
|
|
(4 |
) |
|
Mortgage- and asset-backed securities |
|
|
1,240 |
|
|
|
(5 |
) |
|
|
140 |
|
|
|
(2 |
) |
|
|
1,380 |
|
|
|
(7 |
) |
|
Corporate notes and bonds |
|
|
2,030 |
|
|
|
(12 |
) |
|
|
43 |
|
|
|
(1 |
) |
|
|
2,073 |
|
|
|
(13 |
) |
|
Municipal securities |
|
|
20 |
|
|
|
0 |
|
|
|
54 |
|
|
|
(7 |
) |
|
|
74 |
|
|
|
(7 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
9,925 |
|
|
$ |
(118 |
) |
|
$ |
849 |
|
|
$ |
(47 |
) |
|
$ |
10,774 |
|
|
$ |
(165 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 12 Months |
|
|
12 Months or Greater |
|
|
|
|
|
|
|
Total
Unrealized
Losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
|
Fair Value |
|
|
|
Unrealized
Losses |
|
|
|
Fair Value |
|
|
|
Unrealized
Losses |
|
|
|
Total
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government and agency securities |
|
$ |
5,294 |
|
|
$ |
(111 |
) |
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
5,294 |
|
|
$ |
(111 |
) |
|
Foreign government bonds |
|
|
3,148 |
|
|
|
(1 |
) |
|
|
5 |
|
|
|
(1 |
) |
|
|
3,153 |
|
|
|
(2 |
) |
|
Mortgage- and asset-backed securities |
|
|
1,211 |
|
|
|
(5 |
) |
|
|
87 |
|
|
|
(1 |
) |
|
|
1,298 |
|
|
|
(6 |
) |
|
Corporate notes and bonds |
|
|
1,678 |
|
|
|
(8 |
) |
|
|
34 |
|
|
|
(1 |
) |
|
|
1,712 |
|
|
|
(9 |
) |
|
Municipal securities |
|
|
58 |
|
|
|
(7 |
) |
|
|
1 |
|
|
|
0 |
|
|
|
59 |
|
|
|
(7 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
11,389 |
|
|
$ |
(132 |
) |
|
$ |
127 |
|
|
$ |
(3 |
) |
|
$ |
11,516 |
|
|
$ |
(135 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Investment Maturities |
Debt Investment Maturities
|
(In millions) |
|
Adjusted
Cost Basis |
|
|
Estimated
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Due in one year or less |
|
$ |
31,699 |
|
|
$ |
31,858 |
|
|
Due after one year through five years |
|
|
60,679 |
|
|
|
63,102 |
|
|
Due after five years through 10 years |
|
|
23,911 |
|
|
|
24,758 |
|
|
Due after 10 years |
|
|
2,727 |
|
|
|
2,805 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
119,016 |
|
|
$ |
122,523 |
|
|
|
|
|
|
|
|
|
|
|
|