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Financial Instruments | 12 Months Ended
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Dec. 31, 2025
Financial Instruments [Abstract] |
Financial Instruments | Financial Instruments Fair Value Measurements Our cash equivalents, marketable securities, and restricted cash equivalents are classified within Level 1 or Level 2 of the fair value hierarchy because their fair values are derived from quoted market prices or alternative pricing sources and models utilizing market observable inputs. Certain other assets are classified within Level 3 because factors used to develop the estimated fair value are unobservable inputs that are not supported by market activity. 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 |  | December 31, 2025 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 27,928 |  |  | $ | 27,928 |  |  | $ | — |  |  | $ | — |
U.S. government securities |  | 1,623 |  |  | 1,623 |  |  | — |  |  | — |
Time deposits |  | 328 |  |  | — |  |  | 328 |  |  | — |
Corporate debt securities |  | 1,603 |  |  | — |  |  | 1,603 |  |  | — |
Total cash equivalents |  | 31,482 |  |  | 29,551 |  |  | 1,931 |  |  | — |
Marketable securities: |  |  |  |  |  |  |  |
U.S. government securities |  | 21,483 |  |  | 21,483 |  |  | — |  |  | — |
U.S. government agency securities |  | 767 |  |  | 767 |  |  | — |  |  | — |
Corporate debt securities |  | 17,477 |  |  | — |  |  | 17,477 |  |  | — |
Marketable equity securities |  | 5,992 |  |  | 5,992 |  |  | — |  |  | — |
Total marketable securities |  | 45,719 |  |  | 28,242 |  |  | 17,477 |  |  | — |
Restricted cash equivalents |  | 2,539 |  |  | 2,539 |  |  | — |  |  | — |
Other assets |  | 106 |  |  | — |  |  | — |  |  | 106 |
Total |  | $ | 79,846 |  |  | $ | 60,332 |  |  | $ | 19,408 |  |  | $ | 106 |
|  |  |  | Fair Value Measurement at Reporting Date Using
Description |  | December 31, 2024 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 36,165 |  |  | $ | 36,165 |  |  | $ | — |  |  | $ | — |
U.S. government and agency securities |  | 23 |  |  | 23 |  |  | — |  |  | — |
Time deposits |  | 369 |  |  | — |  |  | 369 |  |  | — |
Corporate debt securities |  | 114 |  |  | — |  |  | 114 |  |  | — |
Total cash equivalents |  | 36,671 |  |  | 36,188 |  |  | 483 |  |  | — |
Marketable securities: |  |  |  |  |  |  |  |
U.S. government securities |  | 14,889 |  |  | 14,889 |  |  | — |  |  | — |
U.S. government agency securities |  | 3,053 |  |  | 3,053 |  |  | — |  |  | — |
Corporate debt securities |  | 14,758 |  |  | — |  |  | 14,758 |  |  | — |
Marketable equity securities |  | 1,226 |  |  | 1,226 |  |  | — |  |  | — |
Total marketable securities |  | 33,926 |  |  | 19,168 |  |  | 14,758 |  |  | — |
Restricted cash equivalents |  | 1,193 |  |  | 1,193 |  |  | — |  |  | — |
Other assets |  | 101 |  |  | — |  |  | — |  |  | 101 |
Total |  | $ | 71,891 |  |  | $ | 56,549 |  |  | $ | 15,241 |  |  | $ | 101 |
Marketable Debt Securities The following tables summarize our available-for-sale marketable debt securities with unrealized losses as of December 31, 2025 and 2024, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
| December 31, 2025
| 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 | $ | 1,491 |  |  | $ | (2) |  |  | $ | 1,570 |  |  | $ | (18) |  |  | $ | 3,061 |  |  | $ | (20) |
U.S. government agency securities | 17 |  |  | — |  |  | 25 |  |  | — |  |  | 42 |  |  | — |
Corporate debt securities | 1,213 |  |  | (1) |  |  | 1,534 |  |  | (20) |  |  | 2,747 |  |  | (21) |
Total | $ | 2,721 |  |  | $ | (3) |  |  | $ | 3,129 |  |  | $ | (38) |  |  | $ | 5,850 |  |  | $ | (41) |
| December 31, 2024
| 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 | $ | 6,860 |  |  | $ | (71) |  |  | $ | 4,330 |  |  | $ | (146) |  |  | $ | 11,190 |  |  | $ | (217) |
U.S. government agency securities | 435 |  |  | (2) |  |  | 2,083 |  |  | (44) |  |  | 2,518 |  |  | (46) |
Corporate debt securities | 2,989 |  |  | (26) |  |  | 6,373 |  |  | (192) |  |  | 9,362 |  |  | (218) |
Total | $ | 10,284 |  |  | $ | (99) |  |  | $ | 12,786 |  |  | $ | (382) |  |  | $ | 23,070 |  |  | $ | (481) |
The gross unrealized gains on our marketable debt securities were $300 million and not material as of December 31, 2025 and 2024, respectively, and the allowance for credit losses were not material for both periods. The following table classifies our marketable debt securities by contractual maturities (in millions):
| December 31, 2025
Due within one year | $ | 13,023 |
Due after one year to five years | 26,704 |
Total | $ | 39,727 |
Marketable Equity Securities The net unrealized gains on our marketable equity securities recognized in interest and other income, net on our consolidated statements of income were $413 million and not material during the years ended December 31, 2025 and 2024, respectively.

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- Definition Financial Instruments + References No definition available. + Details
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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/825/tableOfContent + Details
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