XML 31 R12.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Investments | 12 Months Ended
--- | ---
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments The following tables summarize the Company’s investments by major security type (in millions):
| December 31, 2022
| Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Total Estimated Fair Value
Short-term investments |  |  |  |
Debt securities: |  |  |  |
Certificates of deposit | $ | 573 |  | $ | — |  | $ | — |  | $ | 573 |
Government bonds | 83 |  | — |  | — |  | 83 |
Commercial paper | 574 |  | — |  | — |  | 574 |
Corporate debt securities | 965 |  | 1 |  | (7) |  | 959 |
Mortgage-backed and asset-backed securities | 37 |  | — |  | (3) |  | 34 |
Total debt securities | 2,232 |  | 1 |  | (10) |  | 2,223 |
Time deposits | 20 |  | — |  | — |  | 20 |
Equity investments (1) | 1 |  | — |  | — |  | 1 |
Total short-term investments | $ | 2,253 |  | $ | 1 |  | $ | (10) |  | $ | 2,244 |
Long-term investments (2) |  |  |  |
Debt securities: |  |  |  |
Corporate debt securities | $ | 13 |  | $ | — |  | $ | (9) |  | $ | 4 |
| December 31, 2023
| Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Total Estimated Fair Value
Short-term investments |  |  |  |
Debt securities: |  |  |  |
Certificates of deposit | $ | 172 |  | $ | — |  | $ | — |  | $ | 172 |
Government bonds | 332 |  | 1 |  | — |  | 333 |
Commercial paper | 366 |  | — |  | — |  | 366 |
Corporate debt securities | 1,490 |  | 4 |  | (3) |  | 1,491 |
Mortgage-backed and asset-backed securities | 148 |  | 1 |  | (4) |  | 145 |
Total debt securities | 2,508 |  | 6 |  | (7) |  | 2,507 |
Time deposits | 690 |  | — |  | — |  | 690 |
Total short-term investments | $ | 3,198 |  | $ | 6 |  | $ | (7) |  | $ | 3,197 |
Long-term investments (2) |  |  |  |
Debt securities: |  |  |  |
Corporate debt securities | $ | 13 |  | $ | — |  | $ | (9) |  | $ | 4 |
(1)Unrealized gains (losses) on equity investments were not material for the years ended December 31, 2022 and 2023. (2)Classified within other assets, noncurrent on the consolidated balance sheets. As of December 31, 2022 and December 31, 2023, the Company did not have any available-for-sale debt securities for which the Company recorded credit-related losses. Unrealized gains and losses, net of tax before reclassifications from AOCI to other income (expense), net were not material for the years ended December 31, 2021, 2022 and 2023. Realized gains and losses reclassified from AOCI to other income (expense), net were not material for the years ended December 31, 2021, 2022 and 2023. Debt securities in an unrealized loss position had an estimated fair value of $748 million and $777 million, and unrealized losses of $19 million and $16 million as of December 31, 2022 and 2023, respectively. A total of $92 million and $283 million of these securities, with unrealized losses of $13 million and $14 million, were in a continuous unrealized loss position for more than twelve months as of December 31, 2022 and December 31, 2023, respectively. The following table summarizes the contractual maturities of the Company’s available-for-sale debt securities (in millions):
| December 31, 2023
| Amortized Cost | Estimated Fair Value
Due within one year | $ | 1,406 |  | $ | 1,406 |
Due within one to five years | 1,027 |  | 1,020 |
Due beyond five years | 88 |  | 85 |
Total | $ | 2,521 |  | $ | 2,511 |
Equity Investments Gains and Losses on Marketable Equity Investments During the year ended December 31, 2021, the Company sold all of its marketable equity investments and recognized a realized net loss of $13 million. The realized and unrealized gains and losses on marketable equity investments were recorded in other income (expense), net on the consolidated statements of operations. Equity Investments Without Readily Determinable Fair Values The Company holds investments in privately-held companies in the form of equity securities without readily determinable fair values and in which the Company does not have a controlling interest or significant influence. These investments had a net carrying value of $75 million and $83 million as of December 31, 2022 and December 31, 2023, respectively, and are classified within other assets, noncurrent on the consolidated balance sheets. The Company recorded impairment charges of $3 million for the year ended December 31, 2021, and did not have any impairment charges nor downward adjustments for observable price changes during the years ended December 31, 2022 and 2023. The Company recorded upward adjustments of $4 million during the year ended December 31, 2023, and did not have any upward adjustments for observable price changes during the years ended December 31, 2021 and 2022. As of December 31, 2023, the cumulative impairment and downward adjustments for observable price changes were $56 million. Investments Accounted for Under the Equity Method As of December 31, 2022 and December 31, 2023, the carrying values of the Company’s equity method investments were $14 million and $8 million, respectively. For the years ended December 31, 2021, 2022 and 2023, the Company recorded losses of $4 million, $5 million and $6 million, respectively, within other income (expense), net on the consolidated statements of operations, representing its proportionate share of net income or loss based on the investee’s financial results. There were no impairment charges for the years ended December 31, 2021, 2022 and 2023.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) -Publisher SEC Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//946-320/tableOfContent Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//940-320/tableOfContent Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//942-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration