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INVESTMENTS | 9 Months Ended
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Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
INVESTMENTS | INVESTMENTS The following table summarizes the Company's investments by major security type at September 30, 2024 and December 31, 2023 (in millions):
|  | Cost |  | Gross Unrealized Gains /Upward Adjustments |  | Gross Unrealized Losses /Downward Adjustments |  | Carrying Value
September 30, 2024 |  |  |  |  |  |  |  |
Long-term investments: |  |  |  |  |  |  |  |
Equity securities with readily determinable fair values |  | $ | 715 |  |  | $ | — |  |  | $ | (360) |  |  | $ | 355 |
Equity securities of private entities |  | 111 |  |  | 259 |  |  | (225) |  |  | 145 |
Total long-term investments |  | $ | 826 |  |  | $ | 259 |  |  | $ | (585) |  |  | $ | 500 |
December 31, 2023 |  |  |  |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |
International government securities |  | $ | 63 |  |  | $ | — |  |  | $ | — |  |  | $ | 63 |
U.S. government securities (1) |  | 152 |  |  | — |  |  | (1) |  |  | 151 |
Corporate debt securities |  | 365 |  |  | — |  |  | (3) |  |  | 362 |
Total short-term investments |  | $ | 580 |  |  | $ | — |  |  | $ | (4) |  |  | $ | 576 |
Long-term investments: |  |  |  |  |  |  |  |
Equity securities with readily determinable fair values |  | $ | 715 |  |  | $ | — |  |  | $ | (404) |  |  | $ | 311 |
Equity securities of private entities |  | 78 |  |  | 259 |  |  | (208) |  |  | 129 |
Total long-term investments |  | $ | 793 |  |  | $ | 259 |  |  | $ | (612) |  |  | $ | 440 |
(1) Includes investments in U.S. municipal bonds. The Company has classified its investments in debt securities as available-for-sale debt securities. The aggregate unrealized gains and losses on the available-for-sale debt securities, net of tax, are included in "Accumulated other comprehensive loss" in the Consolidated Balance Sheet at December 31, 2023. Equity securities with readily determinable fair values include the Company's investments in DiDi Global Inc. and Grab Holdings Limited, with fair values of $185 million and $161 million, respectively, at September 30, 2024 and $155 million and $143 million, respectively, at December 31, 2023. Net unrealized gains related to these investments are included in "Other income (expense), net" in the Unaudited Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023. During the nine months ended September 30, 2023, the Company sold its entire investment in Meituan for $1.7 billion, resulting in a loss of $149 million included in "Other income (expense), net" in the Unaudited Consolidated Statement of Operations for the nine months ended September 30, 2023. The cost basis of the Company's investment in Meituan was $450 million. The Company's investments in equity securities of private entities at September 30, 2024 and December 31, 2023 include $51 million originally invested in Yanolja Co., Ltd. ("Yanolja"). The Company evaluated its investment in Yanolja for impairment as of June 30, 2023 and recognized an impairment charge of $24 million during the nine months ended September 30, 2023 (see Note 6). The carrying value of the Company's investment in Yanolja was $98 million at September 30, 2024 and December 31, 2023.

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- Definition The entire disclosure for investment. + 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 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
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