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Available-for-Sale Debt Securities | 9 Months Ended
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Sep. 30, 2018
Debt Securities, Available-for-sale [Abstract] |
Available-for-Sale Debt Securities | AVAILABLE-FOR-SALE DEBT SECURITIES The following table summarizes our available-for-sale debt securities (in millions):
|  | September 30, 2018 |  | December 31, 2017
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
U.S. treasury securities |  | $ | 3,090 |  |  | $ | — |  |  | $ | (15 | ) |  | $ | 3,075 |  |  | $ | 4,090 |  |  | $ | — |  |  | $ | (29 | ) |  | $ | 4,061 |
Certificates of deposit |  | 4,392 |  |  | — |  |  | — |  |  | 4,392 |  |  | 5,131 |  |  | — |  |  | — |  |  | 5,131 |
U.S. government agencies securities |  | 938 |  |  | — |  |  | (6 | ) |  | 932 |  |  | 934 |  |  | — |  |  | (8 | ) |  | 926 |
Non-U.S. government securities |  | 262 |  |  | — |  |  | (2 | ) |  | 260 |  |  | 668 |  |  | — |  |  | (4 | ) |  | 664 |
Corporate debt securities |  | 12,792 |  |  | 2 |  |  | (37 | ) |  | 12,757 |  |  | 14,790 |  |  | 3 |  |  | (46 | ) |  | 14,747 |
Residential mortgage and asset-backed securities |  | 2,049 |  |  | — |  |  | (12 | ) |  | 2,037 |  |  | 4,072 |  |  | 1 |  |  | (15 | ) |  | 4,058 |
Total |  | $ | 23,523 |  |  | $ | 2 |  |  | $ | (72 | ) |  | $ | 23,453 |  |  | $ | 29,685 |  |  | $ | 4 |  |  | $ | (102 | ) |  | $ | 29,587 |
The following table summarizes the classification of our available-for-sale debt securities in our Condensed Consolidated Balance Sheets (in millions):
|  | September 30, 2018 |  | December 31, 2017
Cash and cash equivalents |  | $ | 7,178 |  |  | $ | 481 |
Short-term marketable securities |  | 13,897 |  |  | 17,922 |
Long-term marketable securities |  | 2,378 |  |  | 11,184 |
Total |  | $ | 23,453 |  |  | $ | 29,587 |
The following table summarizes our available-for-sale debt securities by contractual maturity (in millions):
|  | September 30, 2018
|  | Amortized Cost |  | Fair Value
Within one year |  | $ | 21,130 |  |  | $ | 21,075 |
After one year through five years |  | 2,313 |  |  | 2,299 |
After five years through ten years |  | 58 |  |  | 57 |
After ten years |  | 22 |  |  | 22 |
Total |  | $ | 23,523 |  |  | $ | 23,453 |
The following table summarizes our available-for-sale debt 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
September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | $ | (1 | ) |  | $ | 1,339 |  |  | $ | (14 | ) |  | $ | 1,613 |  |  | $ | (15 | ) |  | $ | 2,952 |
U.S. government agencies securities |  | — |  |  | 285 |  |  | (6 | ) |  | 612 |  |  | (6 | ) |  | 897 |
Non-U.S. government securities |  | — |  |  | — |  |  | (2 | ) |  | 234 |  |  | (2 | ) |  | 234 |
Corporate debt securities |  | (6 | ) |  | 2,636 |  |  | (31 | ) |  | 3,602 |  |  | (37 | ) |  | 6,238 |
Residential mortgage and asset-backed securities |  | (1 | ) |  | 409 |  |  | (11 | ) |  | 1,300 |  |  | (12 | ) |  | 1,709 |
Total |  | $ | (8 | ) |  | $ | 4,669 |  |  | $ | (64 | ) |  | $ | 7,361 |  |  | $ | (72 | ) |  | $ | 12,030 |
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | $ | (2 | ) |  | $ | 821 |  |  | $ | (27 | ) |  | $ | 3,240 |  |  | $ | (29 | ) |  | $ | 4,061 |
U.S. government agencies securities |  | (1 | ) |  | 206 |  |  | (7 | ) |  | 700 |  |  | (8 | ) |  | 906 |
Non-U.S. government securities |  | (1 | ) |  | 203 |  |  | (3 | ) |  | 461 |  |  | (4 | ) |  | 664 |
Corporate debt securities |  | (14 | ) |  | 7,674 |  |  | (32 | ) |  | 3,561 |  |  | (46 | ) |  | 11,235 |
Residential mortgage and asset-backed securities |  | (4 | ) |  | 2,245 |  |  | (11 | ) |  | 1,206 |  |  | (15 | ) |  | 3,451 |
Total |  | $ | (22 | ) |  | $ | 11,149 |  |  | $ | (80 | ) |  | $ | 9,168 |  |  | $ | (102 | ) |  | $ | 20,317 |
We held a total of 1,523 and 2,957 positions, which were in an unrealized loss position, as of September 30, 2018 and December 31, 2017, respectively. Based on our review of these securities, we believe we had no other-than-temporary impairments as of September 30, 2018 and December 31, 2017, 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 not material for the three and nine months ended September 30, 2018 and 2017.

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