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Available-for-Sale Debt Securities (Tables) | 3 Months Ended
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Mar. 31, 2020
Debt Securities, Available-for-sale [Abstract] |
Reconciliation of Available-for-Sale Debt Securities from Cost Basis to Fair Value | The following table summarizes our available-for-sale debt securities (in millions):
|  | March 31, 2020 |  | December 31, 2019
|  | 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 |  | $ | 2,048 |  |  | $ | 24 |  |  | $ | — |  |  | $ | 2,072 |  |  | $ | 2,433 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,433 |
Certificates of deposit |  | 3,201 |  |  | — |  |  | — |  |  | 3,201 |  |  | 3,517 |  |  | — |  |  | — |  |  | 3,517 |
U.S. government agencies securities |  | 134 |  |  | — |  |  | — |  |  | 134 |  |  | 1,081 |  |  | — |  |  | — |  |  | 1,081 |
Non-U.S. government securities |  | 22 |  |  | — |  |  | — |  |  | 22 |  |  | 174 |  |  | — |  |  | — |  |  | 174 |
Corporate debt securities |  | 9,287 |  |  | 3 |  |  | (55 | ) |  | 9,235 |  |  | 9,203 |  |  | 2 |  |  | (1 | ) |  | 9,204 |
Residential mortgage and asset-backed securities |  | 260 |  |  | — |  |  | (4 | ) |  | 256 |  |  | 91 |  |  | — |  |  | — |  |  | 91 |
Total |  | $ | 14,952 |  |  | $ | 27 |  |  | $ | (59 | ) |  | $ | 14,920 |  |  | $ | 16,499 |  |  | $ | 2 |  |  | $ | (1 | ) |  | $ | 16,500 |
Summary of Classification of Available-for-Sale Debt Securities | The following table summarizes the classification of our available-for-sale debt securities in our Condensed Consolidated Balance Sheets (in millions):
|  | March 31, 2020 |  | December 31, 2019
Cash and cash equivalents |  | $ | 657 |  |  | $ | 2,291 |
Short-term marketable securities |  | 10,734 |  |  | 12,721 |
Long-term marketable securities |  | 3,529 |  |  | 1,488 |
Total |  | $ | 14,920 |  |  | $ | 16,500 |
Summary of Available-for-Sale Debt Securities by Contractual Maturity | The following table summarizes our available-for-sale debt securities by contractual maturity (in millions):
|  | March 31, 2020
|  | Amortized Cost |  | Fair Value
Within one year |  | $ | 11,420 |  |  | $ | 11,391 |
After one year through five years |  | 3,513 |  |  | 3,510 |
After five years |  | 19 |  |  | 19 |
Total |  | $ | 14,952 |  |  | $ | 14,920 |
Summary of Available-for-Sale Debt Securities in a Continuous Loss Position | The following table summarizes our available-for-sale debt securities in an unrealized loss position (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
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | (55 | ) |  | $ | 5,639 |  |  | $ | — |  |  | $ | — |  |  | $ | (55 | ) |  | $ | 5,639 |
Residential mortgage and asset-backed securities |  | (4 | ) |  | 229 |  |  | — |  |  | 6 |  |  | (4 | ) |  | 235 |
Total |  | $ | (59 | ) |  | $ | 5,868 |  |  | $ | — |  |  | $ | 6 |  |  | $ | (59 | ) |  | $ | 5,874 |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | (1 | ) |  | $ | 1,866 |  |  | $ | — |  |  | $ | 4 |  |  | $ | (1 | ) |  | $ | 1,870 |

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