| 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): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | December 31, 2024 | | | Fair Value | | Level I | | Level II | | Level III | | Fair Value | | Level I | | Level II | | Level III | | Certificates of deposit and time deposits | $ | 14,600 | | | $ | — | | | $ | 14,600 | | | $ | — | | | $ | 12,767 | | | $ | — | | | $ | 12,767 | | | $ | — | | | Commercial paper | 5,617 | | | — | | | 5,617 | | | — | | | 3,919 | | | — | | | 3,919 | | | — | | | U.S. government securities | 7,321 | | | — | | | 7,321 | | | — | | | 3,620 | | | — | | | 3,620 | | | — | | | Corporate debt securities | 8 | | | — | | | 8 | | | — | | | 118 | | | — | | | 118 | | | — | | | Money market funds | 1,890 | | | 1,890 | | | — | | | — | | | 1,753 | | | 1,753 | | | — | | | — | | | Digital assets | 1,008 | | | 1,008 | | | — | | | — | | | 1,076 | | | 1,076 | | | — | | | — | | | Total | $ | 30,444 | | | $ | 2,898 | | | $ | 27,546 | | | $ | — | | | $ | 23,253 | | | $ | 2,829 | | | $ | 20,424 | | | $ | — | |
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| Schedule of Cash, Cash Equivalents and Investments Classified by Security Type |
Our cash, cash equivalents and investments classified by security type as of December 31, 2025 and 2024 consisted of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | Adjusted Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Cash and Cash Equivalents | | Short-Term Investments | | Cash | $ | 14,623 | | | $ | — | | | $ | — | | | $ | 14,623 | | | $ | 14,623 | | | $ | — | | | Certificates of deposit and time deposits | 14,598 | | | 2 | | | — | | | 14,600 | | | — | | | 14,600 | | | Commercial paper | 5,619 | | | — | | | (2) | | | 5,617 | | | — | | | 5,617 | | | U.S. government securities | 7,318 | | | 5 | | | (2) | | | 7,321 | | | — | | | 7,321 | | | Corporate debt securities | 8 | | | — | | | — | | | 8 | | | — | | | 8 | | | Money market funds | 1,890 | | | — | | | — | | | 1,890 | | | 1,890 | | | — | | | Total cash, cash equivalents and short-term investments | $ | 44,056 | | | $ | 7 | | | $ | (4) | | | $ | 44,059 | | | $ | 16,513 | | | $ | 27,546 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | | Adjusted Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Cash and Cash Equivalents | | Short-Term Investments | | Cash | $ | 14,386 | | | $ | — | | | $ | — | | | $ | 14,386 | | | $ | 14,386 | | | $ | — | | | Certificates of deposit and time deposits | 12,767 | | | — | | | — | | | 12,767 | | | — | | | 12,767 | | | Commercial paper | 3,908 | | | 11 | | | — | | | 3,919 | | | — | | | 3,919 | | | U.S. government securities | 3,618 | | | 3 | | | (1) | | | 3,620 | | | — | | | 3,620 | | | Corporate debt securities | 117 | | | 1 | | | — | | | 118 | | | — | | | 118 | | | Money market funds | 1,753 | | | — | | | — | | | 1,753 | | | 1,753 | | | — | | | Total cash, cash equivalents and short-term investments | $ | 36,549 | | | $ | 15 | | | $ | (1) | | | $ | 36,563 | | | $ | 16,139 | | | $ | 20,424 | |
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