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Cash, cash equivalents and current marketable securities | 12 Months Ended
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Dec. 31, 2023
Cash and Cash Equivalents [Abstract] |
Cash, cash equivalents and current marketable securities | Cash, cash equivalents and current marketable securities At the end of the fiscal year 2023 and 2022, cash, cash equivalents and current marketable securities comprised:
(Dollars in Millions) |  | 2023
| Carrying Amount |  |  |  | Unrecognized Loss |  | Estimated Fair Value | Cash & Cash Equivalents |  | Current Marketable Securities
Cash |  | $3,340 |  |  |  | — |  | 3,340 |  | 3,340 |  | —
Non-U.S. Sovereign Securities(1) |  | 522 |  |  |  | — |  | 522 |  | 174 |  | 348
U.S. Reverse repurchase agreements |  | 4,377 |  |  |  | — |  | 4,377 |  | 4,377 |  | —
Corporate debt securities(1) |  | 338 |  |  |  | — |  | 338 |  | 189 |  | 149
Money market funds |  | 4,814 |  |  |  | — |  | 4,814 |  | 4,814 |  | —
Time deposits(1) |  | 662 |  |  |  | — |  | 662 |  | 662 |  | —
Subtotal |  | $14,053 |  |  |  | — |  | 14,053 |  | 13,556 |  | 497
U.S. Gov't Securities |  | $8,562 |  |  |  | — |  | 8,562 |  | 8,259 |  | 303
U.S. Gov't Agencies |  | 71 |  |  |  | (1) |  | 70 |  | — |  | 70
Other Sovereign Securities |  | 5 |  |  |  | — |  | 5 |  | 1 |  | 4
Corporate and other debt securities |  | 237 |  |  |  | — |  | 237 |  | 43 |  | 194
Subtotal available for sale(2) |  | $8,875 |  |  |  | (1) |  | 8,874 |  | 8,303 |  | 571
Total cash, cash equivalents and current marketable securities |  |  |  |  |  |  |  |  |  | $21,859 |  | 1,068
(Dollars in Millions) |  | 2022
| Carrying Amount |  |  |  | Unrecognized Loss |  | Estimated Fair Value | Cash & Cash Equivalents |  | Current Marketable Securities
Cash |  | $3,691 |  |  |  | — |  | 3,691 |  | 3,691 |  | —
U.S. Reverse repurchase agreements |  | 1,419 |  |  |  | — |  | 1,419 |  | 1,419 |  | —
Corporate debt securities(1) |  | 873 |  |  |  | (1) |  | 872 |  | — |  | 873
Money market funds |  | 5,368 |  |  |  | — |  | 5,368 |  | 5,368 |  | —
Time deposits(1) |  | 443 |  |  |  | — |  | 443 |  | 443 |  | —
Subtotal |  | 11,794 |  |  |  | (1) |  | 11,793 |  | 10,921 |  | 873
U.S. Gov't Securities |  | $9,959 |  |  |  | (28) |  | 9,931 |  | 1,922 |  | 8,009
U.S. Gov't Agencies |  | 210 |  |  |  | (5) |  | 205 |  | — |  | 205
Corporate and other debt securities |  | 352 |  |  |  | (1) |  | 351 |  | 46 |  | 305
Subtotal available for sale(2) |  | $10,521 |  |  |  | (34) |  | 10,487 |  | 1,968 |  | 8,519
Total cash, cash equivalents and current marketable securities |  |  |  |  |  |  |  |  |  | $12,889 |  | 9,392
(1)Held to maturity investments are reported at amortized cost and realized gains or losses are reported in earnings. (2)Available for sale debt securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income. Fair value of government securities and obligations and corporate debt securities were estimated using quoted broker prices and significant other observable inputs. The contractual maturities of the available for sale debt securities at December 31, 2023 are as follows:
(Dollars in Millions) | Cost Basis |  | Fair Value
Due within one year |  | $8,865 |  | 8,864
Due after one year through five years |  | 10 |  | 10
Due after five years through ten years |  | — |  | —
Total debt securities |  | $8,875 |  | 8,874
The Company invests its excess cash in both deposits with major banks throughout the world and other high-quality money market instruments. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating.

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- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent + Details
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