XML 44 R31.htm IDEA: XBRL DOCUMENT
v3.23.1

FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis and Nonrecurring Fair Value Measurements | Financial assets and liabilities measured at fair value on a recurring basis at March 31, 2023 are classified in the categories described in the table below (in millions):
|  | Level 1 |  | Level 2 |  |  |  | Total
Recurring fair value measurements (1) |  |  |  |  |  |  |  |
ASSETS: |  |  |  |  |  |  |  |
Cash equivalents and restricted cash equivalents: |  |  |  |  |  |  |  |
Money market fund investments |  | $ | 13,345 |  |  | $ | — |  |  |  |  | $ | 13,345 |
Certificates of deposit |  | 62 |  |  | — |  |  |  |  | 62 |
Short-term investments: |  |  |  |  |  |  |  |
International government securities |  | — |  |  | 38 |  |  |  |  | 38 |
U.S. government securities |  | — |  |  | 144 |  |  |  |  | 144 |
Corporate debt securities |  | — |  |  | 177 |  |  |  |  | 177 |
Long-term investments: |  |  |  |  |  |  |  |
International government securities |  | — |  |  | 40 |  |  |  |  | 40 |
U.S. government securities |  | — |  |  | 111 |  |  |  |  | 111 |
Corporate debt securities |  | — |  |  | 217 |  |  |  |  | 217 |
Equity securities |  | 285 |  |  | — |  |  |  |  | 285 |
Derivatives: |  |  |  |  |  |  |  |
Foreign currency exchange derivatives |  | — |  |  | 43 |  |  |  |  | 43 |
Total assets at fair value |  | $ | 13,692 |  |  | $ | 770 |  |  |  |  | $ | 14,462 |
LIABILITIES: |  |  |  |  |  |  |  |
Foreign currency exchange derivatives |  | $ | — |  |  | $ | 31 |  |  |  |  | $ | 31 |
(1) The Company did not have any Level 3 fair value measurements at March 31, 2023. Financial assets and liabilities measured at fair value on a recurring basis at December 31, 2022 and nonrecurring fair value measurements are classified in the categories described in the table below (in millions):
|  | Level 1 |  | Level 2 |  | Level 3 (1) |  | Total
Recurring fair value measurements |  |  |  |  |  |  |  |
ASSETS: |  |  |  |  |  |  |  |
Cash equivalents and restricted cash equivalents: |  |  |  |  |  |  |  |
Money market fund investments |  | $ | 11,483 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,483 |
Certificates of deposit |  | 60 |  |  | — |  |  | — |  |  | 60 |
Short-term investments: |  |  |  |  |  |  |  |
International government securities |  | — |  |  | 13 |  |  | — |  |  | 13 |
U.S. government securities |  | — |  |  | 130 |  |  | — |  |  | 130 |
Corporate debt securities |  | — |  |  | 32 |  |  | — |  |  | 32 |
Long-term investments: |  |  |  |  |  |  |  |
International government securities |  | — |  |  | 62 |  |  | — |  |  | 62 |
U.S. government securities |  | — |  |  | 144 |  |  | — |  |  | 144 |
Corporate debt securities |  | — |  |  | 359 |  |  | — |  |  | 359 |
Equity securities |  | 2,071 |  |  | — |  |  | — |  |  | 2,071 |
Derivatives: |  |  |  |  |  |  |  |
Foreign currency exchange derivatives |  | — |  |  | 65 |  |  | — |  |  | 65 |
Total assets at fair value |  | $ | 13,614 |  |  | $ | 805 |  |  | $ | — |  |  | $ | 14,419 |
LIABILITIES: |  |  |  |  |  |  |  |
Foreign currency exchange derivatives |  | $ | — |  |  | $ | 26 |  |  | $ | — |  |  | $ | 26 |
Nonrecurring fair value measurements |  |  |  |  |  |  |  |
Investment in equity securities of a private company (1) |  | $ | — |  |  | $ | — |  |  | $ | 122 |  |  | $ | 122 |
(1) During the year ended December 31, 2022, the investment in Yanolja was written down to its estimated fair value.
Fair Value and the Notional Amount of Derivatives and the Effect of Foreign Currency Exchange Derivatives | The table below provides estimated fair values and notional amounts of foreign currency exchange derivatives outstanding at March 31, 2023 and December 31, 2022 (in millions). The notional amount of a foreign currency forward contract is the contracted amount of foreign currency to be exchanged and is not recorded in the balance sheets.
| March 31, 2023 |  | December 31, 2022
Estimated fair value of derivative assets | $ | 43 |  |  | $ | 65 |
Estimated fair value of derivative liabilities | $ | 31 |  |  | $ | 26 |
Notional amount: |  |  |
Foreign currency purchases | $ | 4,300 |  |  | $ | 2,870 |
Foreign currency sales | $ | 3,289 |  |  | $ | 2,682 |
The effect of foreign currency exchange derivatives recorded in "Other income (expense), net" in the Unaudited Consolidated Statements of Operations for the three months ended March 31, 2023 and 2022 is as follows (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2023 |  | 2022
Losses on foreign currency exchange derivatives |  |  |  |  | $ | 17 |  |  | $ | 16 |

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI https://asc.fasb.org/extlink&oid=126976982&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration