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Available-for-sale securities | 12 Months Ended
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Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract] |
Available-for-Sale Securities Disclosure | AVAILABLE-FOR-SALE SECURITIES Estimated fair values of available-for-sale securities are generally based on prices obtained from commercial pricing services. The following summarizes our available-for-sale securities (in millions):
|  | December 31, 2017 |  | December 31, 2016
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Corporate debt securities |  | $ | 14,790 |  |  | $ | 3 |  |  | $ | (46 | ) |  | $ | 14,747 |  |  | $ | 12,657 |  |  | $ | 7 |  |  | $ | (61 | ) |  | $ | 12,603 |
Certificates of deposit |  | 5,131 |  |  | — |  |  | — |  |  | 5,131 |  |  | 943 |  |  | — |  |  | — |  |  | 943 |
Money market funds |  | 4,714 |  |  | — |  |  | — |  |  | 4,714 |  |  | 5,464 |  |  | — |  |  | — |  |  | 5,464 |
U.S. treasury securities |  | 4,090 |  |  | — |  |  | (29 | ) |  | 4,061 |  |  | 5,558 |  |  | 1 |  |  | (30 | ) |  | 5,529 |
Residential mortgage and asset-backed securities |  | 4,072 |  |  | 1 |  |  | (15 | ) |  | 4,058 |  |  | 3,613 |  |  | 2 |  |  | (13 | ) |  | 3,602 |
U.S. government agencies securities |  | 934 |  |  | — |  |  | (8 | ) |  | 926 |  |  | 981 |  |  | — |  |  | (6 | ) |  | 975 |
Non-U.S. government securities |  | 668 |  |  | — |  |  | (4 | ) |  | 664 |  |  | 725 |  |  | — |  |  | (5 | ) |  | 720 |
Municipal debt securities |  | — |  |  | — |  |  | — |  |  | — |  |  | 27 |  |  | — |  |  | — |  |  | 27 |
Equity securities |  | 357 |  |  | 278 |  |  | — |  |  | 635 |  |  | 357 |  |  | 71 |  |  | — |  |  | 428 |
Total |  | $ | 34,756 |  |  | $ | 282 |  |  | $ | (102 | ) |  | $ | 34,936 |  |  | $ | 30,325 |  |  | $ | 81 |  |  | $ | (115 | ) |  | $ | 30,291 |
The following table summarizes the classification of our available-for-sale securities on our Consolidated Balance Sheets (in millions):
| December 31, 2017 |  | December 31, 2016
Cash and cash equivalents | $ | 5,195 |  |  | $ | 5,712 |
Short-term marketable securities | 17,922 |  |  | 3,666 |
Prepaid and other current assets | 635 |  |  | — |
Long-term marketable securities | 11,184 |  |  | 20,485 |
Other long-term assets | — |  |  | 428 |
Total | $ | 34,936 |  |  | $ | 30,291 |
Cash and cash equivalents in the table above excludes cash of $2.4 billion and $2.5 billion as of December 31, 2017 and 2016, respectively. The following table summarizes our available-for-sale securities by contractual maturity (in millions):
| December 31, 2017
| Amortized Cost |  | Fair Value
Within one year | $ | 23,139 |  |  | $ | 23,117 |
After one year through five years | 11,125 |  |  | 11,051 |
After five years through ten years | 98 |  |  | 96 |
After ten years | 37 |  |  | 37 |
Total | $ | 34,399 |  |  | $ | 34,301 |
The following table summarizes our available-for-sale securities that were in a continuous unrealized loss position, but were not deemed to be other-than-temporarily impaired (in millions):
|  | Less Than 12 Months |  | 12 Months or Greater |  | Total
|  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | (14 | ) |  | $ | 7,674 |  |  | $ | (32 | ) |  | $ | 3,561 |  |  | $ | (46 | ) |  | $ | 11,235 |
U.S. treasury securities |  | (2 | ) |  | 821 |  |  | (27 | ) |  | 3,240 |  |  | (29 | ) |  | 4,061 |
Residential mortgage and asset-backed securities |  | (4 | ) |  | 2,245 |  |  | (11 | ) |  | 1,206 |  |  | (15 | ) |  | 3,451 |
U.S. government agencies securities |  | (1 | ) |  | 206 |  |  | (7 | ) |  | 700 |  |  | (8 | ) |  | 906 |
Non-U.S. government securities |  | (1 | ) |  | 203 |  |  | (3 | ) |  | 461 |  |  | (4 | ) |  | 664 |
Total |  | $ | (22 | ) |  | $ | 11,149 |  |  | $ | (80 | ) |  | $ | 9,168 |  |  | $ | (102 | ) |  | $ | 20,317 |
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | (60 | ) |  | $ | 8,685 |  |  | $ | (1 | ) |  | $ | 155 |  |  | $ | (61 | ) |  | $ | 8,840 |
U.S. treasury securities |  | (30 | ) |  | 5,081 |  |  | — |  |  | — |  |  | (30 | ) |  | 5,081 |
Residential mortgage and asset-backed securities |  | (13 | ) |  | 2,180 |  |  | — |  |  | 42 |  |  | (13 | ) |  | 2,222 |
U.S. government agencies securities |  | (6 | ) |  | 897 |  |  | — |  |  | — |  |  | (6 | ) |  | 897 |
Non-U.S. government securities |  | (5 | ) |  | 714 |  |  | — |  |  | 5 |  |  | (5 | ) |  | 719 |
Certificates of deposit |  | — |  |  | 15 |  |  | — |  |  | — |  |  | — |  |  | 15 |
Municipal debt securities |  | — |  |  | 11 |  |  | — |  |  | — |  |  | — |  |  | 11 |
Total |  | $ | (114 | ) |  | $ | 17,583 |  |  | $ | (1 | ) |  | $ | 202 |  |  | $ | (115 | ) |  | $ | 17,785 |
We held a total of 2,957 and 2,709 positions as of December 31, 2017 and 2016, respectively, related to our debt securities that were in an unrealized loss position. Based on our review of our available-for-sale securities, we believe we had no other-than-temporary impairments on these securities as of December 31, 2017 and 2016, because we do not intend to sell these securities nor do we believe that we will be required to sell these securities before the recovery of their amortized cost basis. Gross realized gains and gross realized losses were immaterial for the years ended December 31, 2017, 2016 and 2015.

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