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AVAILABLE-FOR-SALE DEBT SECURITIES AND EQUITY SECURITIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Securities, Available-for-Sale [Abstract] |
Summary of Available-for-Sale Debt Securities at Estimated Fair Value | The following table summarizes our available-for-sale debt securities:
|  | December 31, 2023 |  | December 31, 2022
(in millions) |  | 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 |  | $ | 427 |  |  | $ | — |  |  | $ | (1) |  |  | $ | 426 |  |  | $ | 415 |  |  | $ | — |  |  | $ | (5) |  |  | $ | 410 |
U.S. government agencies securities |  | 127 |  |  | — |  |  | — |  |  | 127 |  |  | 36 |  |  | — |  |  | — |  |  | 35 |
Non-U.S. government securities |  | 10 |  |  | — |  |  | — |  |  | 10 |  |  | 34 |  |  | — |  |  | — |  |  | 34 |
Certificates of deposit |  | 45 |  |  | — |  |  | — |  |  | 45 |  |  | 54 |  |  | — |  |  | — |  |  | 54 |
Corporate debt securities |  | 1,455 |  |  | 4 |  |  | (8) |  |  | 1,451 |  |  | 1,452 |  |  | — |  |  | (26) |  |  | 1,427 |
Residential mortgage and asset-backed securities |  | 366 |  |  | 1 |  |  | — |  |  | 367 |  |  | 335 |  |  | — |  |  | (3) |  |  | 333 |
Total |  | $ | 2,430 |  |  | $ | 5 |  |  | $ | (10) |  |  | $ | 2,426 |  |  | $ | 2,325 |  |  | $ | 1 |  |  | $ | (34) |  |  | $ | 2,293 |
Summary of Available-for-Sale Debt Securities In Continuous Unrealized Loss Position | The following table summarizes information related to available-for-sale debt securities that have been in a continuous unrealized loss position, classified by length of time:
|  | December 31, 2023
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
(in millions) |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value
U.S. treasury securities |  | $ | — |  |  | $ | 161 |  |  | $ | (1) |  |  | $ | 48 |  |  | $ | (1) |  |  | $ | 209 |
U.S. government agencies securities |  | — |  |  | 106 |  |  | — |  |  | 2 |  |  | — |  |  | 108 |
Non-U.S. government securities |  | — |  |  | 5 |  |  | — |  |  | 5 |  |  | — |  |  | 10 |
Corporate debt securities |  | (1) |  |  | 333 |  |  | (7) |  |  | 546 |  |  | (8) |  |  | 878 |
Residential mortgage and asset-backed securities |  | — |  |  | 123 |  |  | — |  |  | 24 |  |  | — |  |  | 147 |
Total |  | $ | (2) |  |  | $ | 727 |  |  | $ | (8) |  |  | $ | 624 |  |  | $ | (10) |  |  | $ | 1,351 |
|  | December 31, 2022
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
(in millions) |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value
U.S. treasury securities |  | $ | (2) |  |  | $ | 174 |  |  | $ | (3) |  |  | $ | 206 |  |  | $ | (5) |  |  | $ | 379 |
U.S. government agencies securities |  | — |  |  | 21 |  |  | — |  |  | — |  |  | — |  |  | 21 |
Non-U.S. government securities |  | — |  |  | 31 |  |  | — |  |  | 3 |  |  | — |  |  | 34 |
Corporate debt securities |  | (17) |  |  | 774 |  |  | (8) |  |  | 439 |  |  | (26) |  |  | 1,213 |
Residential mortgage and asset-backed securities |  | (2) |  |  | 205 |  |  | (1) |  |  | 56 |  |  | (3) |  |  | 261 |
Total |  | $ | (22) |  |  | $ | 1,204 |  |  | $ | (12) |  |  | $ | 705 |  |  | $ | (34) |  |  | $ | 1,908 |
Summary of the Classification of Available-for-Sale Debt Securities | The following table summarizes the classification of our available-for-sale debt securities in our Consolidated Balance Sheets:
|  | December 31,
(in millions) |  | 2023 |  | 2022
Cash and cash equivalents |  | $ | 83 |  |  | $ | 75 |
Short-term marketable debt securities |  | 1,179 |  |  | 973 |
Long-term marketable debt securities |  | 1,163 |  |  | 1,245 |
Total |  | $ | 2,426 |  |  | $ | 2,293 |
Summary of Available-for-Sale Debt Securities by Contractual Maturity | The following table summarizes our available-for-sale debt securities by contractual maturity:
|  | December 31, 2023
(in millions) |  | Amortized Cost |  | Fair Value
Within one year |  | $ | 1,267 |  |  | $ | 1,262 |
After one year through five years |  | 1,153 |  |  | 1,153 |
After five years through ten years |  | 9 |  |  | 9 |
After ten years |  | 2 |  |  | 2 |
Total |  | $ | 2,430 |  |  | $ | 2,426 |
Summary of Equity Securities at Fair Value | The following table summarizes the classification of our equity securities on our Consolidated Balance Sheets:
|  | December 31,
(in millions) |  | 2023 |  | 2022
Equity securities measured at fair value: |  |  |  |
Cash and cash equivalents |  | $ | 4,465 |  |  | $ | 3,831 |
Prepaid and other current assets |  | 1,086 |  |  | 473 |
Other long-term assets |  | 656 |  |  | 943 |
Equity method investments and other equity investments without readily determinable fair values: |  |  |  |
Other long-term assets |  | $ | 340 |  |  | $ | 423 |
Total |  | $ | 6,547 |  |  | $ | 5,671 |
summary of Net Unrealized Gains and Losses on Equity Securities | The following table summarizes net unrealized gains and losses on equity securities still held as of the respective balance sheet dates, included in Other income (expense), net on our Consolidated Statements of Income:
|  | Year Ended December 31,
(in millions) |  | 2023 |  | 2022 |  | 2021
Net unrealized losses on equity securities still held |  | $ | 60 |  |  | $ | 684 |  |  | $ | 647 |

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