| Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis |
Our assets and liabilities that were measured at fair value on a recurring basis were as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2023 | | December 31, 2022 | | | Fair Value | | Level I | | Level II | | Level III | | Fair Value | | Level I | | Level II | | Level III | | Money market funds | $ | 1,153 | | | $ | 1,153 | | | $ | — | | | $ | — | | | $ | 2,188 | | | $ | 2,188 | | | $ | — | | | $ | — | | | U.S. government securities | 4,798 | | | — | | | 4,798 | | | — | | | 894 | | | — | | | 894 | | | — | | | Corporate debt securities | 559 | | | — | | | 559 | | | — | | | 885 | | | — | | | 885 | | | — | | | Certificates of deposit and time deposits | 4,788 | | | — | | | 4,788 | | | — | | | 4,253 | | | — | | | 4,253 | | | — | | | Total | $ | 11,298 | | | $ | 1,153 | | | $ | 10,145 | | | $ | — | | | $ | 8,220 | | | $ | 2,188 | | | $ | 6,032 | | | $ | — | |
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| Unrealized Gain (Loss) on Investments |
Our cash, cash equivalents and investments classified by security type as of September 30, 2023 and December 31, 2022 consisted of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2023 | | | Adjusted Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Cash and Cash Equivalents | | Short-Term Investments | | Cash | $ | 14,779 | | | $ | — | | | $ | — | | | $ | 14,779 | | | $ | 14,779 | | | $ | — | | | Money market funds | 1,153 | | | — | | | — | | | 1,153 | | | 1,153 | | | — | | | U.S. government securities | 4,800 | | | — | | | (2) | | | 4,798 | | | — | | | 4,798 | | | Corporate debt securities | 569 | | | 1 | | | (11) | | | 559 | | | — | | | 559 | | | Certificates of deposit and time deposits | 4,788 | | | — | | | — | | | 4,788 | | | — | | | 4,788 | | | Total cash, cash equivalents and short-term investments | $ | 26,089 | | | $ | 1 | | | $ | (13) | | | $ | 26,077 | | | $ | 15,932 | | | $ | 10,145 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | | Adjusted Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Cash and Cash Equivalents | | Short-Term Investments | | Cash | $ | 13,965 | | | $ | — | | | $ | — | | | $ | 13,965 | | | $ | 13,965 | | | $ | — | | | Money market funds | 2,188 | | | — | | | — | | | 2,188 | | | 2,188 | | | — | | | U.S. government securities | 897 | | | — | | | (3) | | | 894 | | | — | | | 894 | | | Corporate debt securities | 907 | | | — | | | (22) | | | 885 | | | — | | | 885 | | | Certificates of deposit and time deposits | 4,252 | | | 1 | | | — | | | 4,253 | | | 100 | | | 4,153 | | | Total cash, cash equivalents and short-term investments | $ | 22,209 | | | $ | 1 | | | $ | (25) | | | $ | 22,185 | | | $ | 16,253 | | | $ | 5,932 | |
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