Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value, Assets Measured on Recurring Basis

The following tables summarize our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions):


			Fair Value Measurement at Reporting Date Using
Description	March 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	5,680
Cash equivalents:
Money market funds	5,384		$	5,384	$	—	$	—
U.S. government and agency securities	50		50		—		—

Time deposits	424		—		424		—
Corporate debt securities	13		—		13		—
Total cash and cash equivalents	11,551		5,434		437		—
Marketable securities:
U.S. government securities	8,706		8,706		—		—
U.S. government agency securities	4,997		4,997		—		—
Corporate debt securities	12,185		—		12,185		—

Total marketable securities	25,888		13,703		12,185		—
Restricted cash equivalents	579		579		—		—
Other assets	93		—		—		93
Total	$	38,111	$	19,716	$	12,622	$	93


			Fair Value Measurement at Reporting Date Using
Description	December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash	$	6,176
Cash equivalents:
Money market funds	8,305		$	8,305	$	—	$	—
U.S. government and agency securities	16		16		—		—

Time deposits	156		—		156		—
Corporate debt securities	28		—		28		—
Total cash and cash equivalents	14,681		8,321		184		—
Marketable securities:
U.S. government securities	8,708		8,708		—		—
U.S. government agency securities	4,989		4,989		—		—
Corporate debt securities	12,335		—		12,335		—
Marketable equity securities	25		25		—		—
Total marketable securities	26,057		13,722		12,335		—
Restricted cash equivalents	583		583		—		—
Other assets	157		—		—		157
Total	$	41,478	$	22,626	$	12,519	$	157

Available-for-sale Marketable Securities

The following tables summarize our available-for-sale marketable debt securities with unrealized losses as of March 31, 2023 and December 31, 2022, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):


	March 31, 2023
	Less than 12 months				12 months or greater				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. government securities	$	2,338	$	(59)	$	6,061	$	(311)	$	8,399	$	(370)
U.S. government agency securities	130		(2)		4,769		(260)		4,899		(262)
Corporate debt securities	1,685		(25)		10,194		(735)		11,879		(760)
Total	$	4,153	$	(86)	$	21,024	$	(1,306)	$	25,177	$	(1,392)


	December 31, 2022
	Less than 12 months				12 months or greater				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. government securities	$	5,008	$	(234)	$	3,499	$	(247)	$	8,507	$	(481)
U.S. government agency securities	524		(17)		4,415		(308)		4,939		(325)
Corporate debt securities	4,555		(249)		7,256		(634)		11,811		(883)
Total	$	10,087	$	(500)	$	15,170	$	(1,189)	$	25,257	$	(1,689)

Marketable Securities by Contractual Maturities

The following table classifies our marketable debt securities by contractual maturities (in millions):


	March 31, 2023
Due within one year	$	5,163
Due after one year to five years	20,725
Total	$	25,888