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Available-for-sale investments | 9 Months Ended
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Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract] |
Available-for-sale investments | Available-for-sale investments The amortized cost, gross unrealized gains, gross unrealized losses and fair values of available-for-sale investments by type of security were as follows (in millions):
Type of security as of September 30, 2017 |  | Amortized cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
U.S. Treasury securities |  | $ | 8,029 |  |  | $ | 6 |  |  | $ | (17 | ) |  | $ | 8,018 |
Other government-related debt securities: |  |  |  |  |  |  |  |
U.S. |  | 225 |  |  | — |  |  | (1 | ) |  | 224 |
Foreign and other |  | 2,634 |  |  | 41 |  |  | (4 | ) |  | 2,671 |
Corporate debt securities: |  |  |  |  |  |  |  |
Financial |  | 10,198 |  |  | 63 |  |  | (7 | ) |  | 10,254 |
Industrial |  | 9,829 |  |  | 94 |  |  | (17 | ) |  | 9,906 |
Other |  | 1,251 |  |  | 12 |  |  | (2 | ) |  | 1,261 |
Residential mortgage-backed securities |  | 2,212 |  |  | 2 |  |  | (10 | ) |  | 2,204 |
Other mortgage- and asset-backed securities |  | 2,071 |  |  | — |  |  | (4 | ) |  | 2,067 |
Money market mutual funds |  | 2,455 |  |  | — |  |  | — |  |  | 2,455 |
Other short-term interest-bearing securities |  | 1,746 |  |  | — |  |  | — |  |  | 1,746 |
Total interest-bearing securities |  | 40,650 |  |  | 218 |  |  | (62 | ) |  | 40,806 |
Equity securities |  | 129 |  |  | 27 |  |  | (13 | ) |  | 143 |
Total available-for-sale investments |  | $ | 40,779 |  |  | $ | 245 |  |  | $ | (75 | ) |  | $ | 40,949 |
Type of security as of December 31, 2016 |  | Amortized cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value
U.S. Treasury securities |  | $ | 6,681 |  |  | $ | 1 |  |  | $ | (68 | ) |  | $ | 6,614 |
Other government-related debt securities: |  |  |  |  |  |  |  |
U.S. |  | 302 |  |  | — |  |  | (3 | ) |  | 299 |
Foreign and other |  | 1,784 |  |  | 9 |  |  | (34 | ) |  | 1,759 |
Corporate debt securities: |  |  |  |  |  |  |  |
Financial |  | 8,476 |  |  | 21 |  |  | (37 | ) |  | 8,460 |
Industrial |  | 8,793 |  |  | 59 |  |  | (63 | ) |  | 8,789 |
Other |  | 1,079 |  |  | 5 |  |  | (7 | ) |  | 1,077 |
Residential mortgage-backed securities |  | 1,968 |  |  | 1 |  |  | (29 | ) |  | 1,940 |
Other mortgage- and asset-backed securities |  | 1,731 |  |  | 1 |  |  | (13 | ) |  | 1,719 |
Money market mutual funds |  | 2,782 |  |  | — |  |  | — |  |  | 2,782 |
Other short-term interest-bearing securities |  | 4,188 |  |  | — |  |  | — |  |  | 4,188 |
Total interest-bearing securities |  | 37,784 |  |  | 97 |  |  | (254 | ) |  | 37,627 |
Equity securities |  | 127 |  |  | 31 |  |  | (4 | ) |  | 154 |
Total available-for-sale investments |  | $ | 37,911 |  |  | $ | 128 |  |  | $ | (258 | ) |  | $ | 37,781 |
The fair values of available-for-sale investments by classification in the Condensed Consolidated Balance Sheets were as follows (in millions):
Classification in the Condensed Consolidated Balance Sheets |  | September 30, 2017 |  | December 31, 2016
Cash and cash equivalents |  | $ | 2,455 |  |  | $ | 2,783 |
Marketable securities |  | 38,351 |  |  | 34,844 |
Other noncurrent assets |  | 143 |  |  | 154 |
Total available-for-sale investments |  | $ | 40,949 |  |  | $ | 37,781 |
Cash and cash equivalents in the above table excludes bank account cash of $545 million and $458 million as of September 30, 2017 and December 31, 2016, respectively. The fair values of available-for-sale interest-bearing security investments by contractual maturity, except for mortgage- and asset-backed securities that do not have a single maturity date, were as follows (in millions):
Contractual maturity |  | September 30, 2017 |  | December 31, 2016
Maturing in one year or less |  | $ | 6,478 |  |  | $ | 8,393 |
Maturing after one year through three years |  | 12,912 |  |  | 10,404 |
Maturing after three years through five years |  | 13,830 |  |  | 12,157 |
Maturing after five years through ten years |  | 3,252 |  |  | 2,974 |
Maturing after ten years |  | 63 |  |  | 40 |
Mortgage- and asset-backed securities |  | 4,271 |  |  | 3,659 |
Total interest-bearing securities |  | $ | 40,806 |  |  | $ | 37,627 |
For the three months ended September 30, 2017 and 2016, realized gains totaled $38 million and $215 million, respectively, and realized losses totaled $12 million and $192 million, respectively. For the nine months ended September 30, 2017 and 2016, realized gains totaled $113 million and $283 million, respectively, and realized losses totaled $183 million and $313 million, respectively. The cost of securities sold is based on the specific identification method. Information on the fair values and gross unrealized losses of available-for-sale investments in an unrealized loss position aggregated by type and length of time that the securities have been in a continuous loss position was as follows (in millions):
|  | Less than 12 months |  | 12 months or more
Type of security as of September 30, 2017 |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses
U.S. Treasury securities |  | $ | 6,242 |  |  | $ | (17 | ) |  | $ | 5 |  |  | $ | — |
Other government-related debt securities: |  |  |  |  |  |  |  |
U.S. |  | 118 |  |  | (1 | ) |  | 12 |  |  | — |
Foreign and other |  | 515 |  |  | (2 | ) |  | 65 |  |  | (2 | )
Corporate debt securities: |  |  |  |  |  |  |  |
Financial |  | 1,997 |  |  | (6 | ) |  | 151 |  |  | (1 | )
Industrial |  | 2,434 |  |  | (14 | ) |  | 276 |  |  | (3 | )
Other |  | 326 |  |  | (2 | ) |  | 26 |  |  | — |
Residential mortgage-backed securities |  | 1,723 |  |  | (8 | ) |  | 94 |  |  | (2 | )
Other mortgage- and asset-backed securities |  | 1,074 |  |  | (4 | ) |  | 38 |  |  | — |
Equity securities |  | 13 |  |  | (13 | ) |  | — |  |  | — |
Total |  | $ | 14,442 |  |  | $ | (67 | ) |  | $ | 667 |  |  | $ | (8 | )
|  | Less than 12 months |  | 12 months or more
Type of security as of December 31, 2016 |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses
U.S. Treasury securities |  | $ | 5,774 |  |  | $ | (68 | ) |  | $ | — |  |  | $ | — |
Other government-related debt securities: |  |  |  |  |  |  |  |
U.S. |  | 201 |  |  | (3 | ) |  | — |  |  | — |
Foreign and other |  | 1,192 |  |  | (34 | ) |  | 17 |  |  | — |
Corporate debt securities: |  |  |  |  |  |  |  |
Financial |  | 3,975 |  |  | (37 | ) |  | 44 |  |  | — |
Industrial |  | 3,913 |  |  | (61 | ) |  | 149 |  |  | (2 | )
Other |  | 486 |  |  | (7 | ) |  | 7 |  |  | — |
Residential mortgage-backed securities |  | 1,631 |  |  | (26 | ) |  | 158 |  |  | (3 | )
Other mortgage- and asset-backed securities |  | 1,087 |  |  | (10 | ) |  | 118 |  |  | (3 | )
Equity securities |  | 22 |  |  | (4 | ) |  | — |  |  | — |
Total |  | $ | 18,281 |  |  | $ | (250 | ) |  | $ | 493 |  |  | $ | (8 | )
The primary objective of our investment portfolio is to enhance overall returns in an efficient manner while maintaining safety of principal, prudent levels of liquidity and acceptable levels of risk. Our investment policy limits interest-bearing security investments to certain types of debt and money market instruments issued by institutions with primarily investment-grade credit ratings, and it places restrictions on maturities and concentration by asset class and issuer. We review our available-for-sale investments for other-than-temporary declines in fair value below our cost basis each quarter and whenever events or changes in circumstances indicate that the cost basis of an asset may not be recoverable. The evaluation is based on a number of factors, including the length of time and the extent to which the fair value has been below our cost basis and adverse conditions related specifically to the security, including any changes to the credit rating of the security, and the intent to sell, or whether we will more likely than not be required to sell, the security before recovery of its amortized cost basis. Our assessment of whether a security is other-than-temporarily impaired could change in the future based on new developments or changes in assumptions related to that particular security. As of September 30, 2017 and December 31, 2016, we believe the cost bases for our available-for-sale investments were recoverable in all material respects.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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