v3.24.0.1
Investments (Tables)
12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash and Cash Equivalents, Debt Securities, Available-for-Sale
The following tables summarize the Company’s investments by major security type (in millions):

December 31, 2022
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Total
Estimated
Fair Value
Short-term investments
Debt securities:
Certificates of deposit$573 $— $— $573 
Government bonds83 — — 83 
Commercial paper574 — — 574 
Corporate debt securities965 (7)959 
Mortgage-backed and asset-backed securities
37 — (3)34 
Total debt securities2,232 (10)2,223 
Time deposits20 — — 20 
Equity investments (1)
— — 
Total short-term investments
$2,253 $$(10)$2,244 
Long-term investments (2)
Debt securities:
Corporate debt securities$13 $— $(9)$

December 31, 2023
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Total
Estimated
Fair Value
Short-term investments
Debt securities:
Certificates of deposit
$172 $— $— $172 
Government bonds
332 — 333 
Commercial paper
366 — — 366 
Corporate debt securities
1,490 (3)1,491 
Mortgage-backed and asset-backed securities
148 (4)145 
Total debt securities2,508 (7)2,507 
Time deposits690 — — 690 
Total short-term investments
$3,198 $$(7)$3,197 
Long-term investments (2)
Debt securities:
Corporate debt securities$13 $— $(9)$

(1)Unrealized gains (losses) on equity investments were not material for the years ended December 31, 2022 and 2023.
(2)Classified within other assets, noncurrent on the consolidated balance sheets.
Schedule of Contractual Maturities of the Available-for-Sale Debt Securities
The following table summarizes the contractual maturities of the Company’s available-for-sale debt securities (in millions):
December 31, 2023
Amortized
Cost
Estimated
Fair Value
Due within one year$1,406 $1,406 
Due within one to five years
1,027 1,020 
Due beyond five years
88 85 
Total$2,521 $2,511