v3.21.2
Fair Value Measurements and Investments (Tables)
 12 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Fair Value Measurements at September 30
Using Inputs Considered as
Level 1Level 2
2021202020212020
(in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds$11,779 $12,522 $— $— 
U.S. government-sponsored debt securities— — 100 1,469 
U.S. Treasury securities2,400 650 — — 
Investment securities:
Marketable equity securities490 148 — — 
U.S. government-sponsored debt securities— — 245 2,582 
U.S. Treasury securities2,985 1,253 — — 
Other current and non-current assets:
Money market funds4 — — — 
Derivative instruments— — 410 512 
Total$17,658 $14,573 $755 $4,563 
Liabilities
Accrued compensation and benefits:
Deferred compensation liability$167 $135 $— $— 
Accrued and other liabilities:
Derivative instruments— — 109 181 
Total$167 $135 $109 $181 
Schedule of Non-marketable Equity Securities
The following table summarizes the total carrying value of the Company’s non-marketable equity securities held as of September 30, 2021 including cumulative unrealized gains and losses:
September 30,
2021
(in millions)
Initial cost basis$874 
Adjustments:
Upward adjustments607 
Downward adjustments (including impairment)(13)
Carrying amount, end of period$1,468 
Equity Securities without Readily Determinable Fair Value
Unrealized gains and losses included in the carrying value of the Company’s non-marketable equity securities still held as of September 30, 2021 and 2020 were as follows:
For the Years Ended
September 30,
20212020
(in millions)
Upward adjustments$484 $102 
Downward adjustments (including impairment)$(3)$(6)
Investment Income
Investment income is recorded as non-operating income (expense) in the Company’s consolidated statements of operations and consisted of the following:
 For the Years Ended
September 30,
 202120202019
 (in millions)
Interest and dividend income on cash and investments$(16)$80 $247 
Realized gains (losses), net on debt securities— 4 1 
Equity securities:
Unrealized gains (losses), net721 115 117 
Realized gains (losses), net26 1 18 
Investment income$731 $200 $383