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v3.22.2

CASH AND INVESTMENTS (Tables) | 6 Months Ended
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Jun. 30, 2022
Marketable Securities [Abstract] |
Available-for-sale Securities | The following is a summary of marketable securities classified as trading and available-for-sale as of June 30, 2022 and December 31, 2021 (in millions):
| Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
June 30, 2022: |  |  |  |  |  |  |
Current trading marketable securities: |  |  |  |  |  |  |
Equity securities | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |
Total trading marketable securities | 2 |  |  | — |  |  | — |  |  | 2 |
Current available-for-sale securities: |  |  |  |  |  |  |
U.S. government and agency debt securities | 200 |  |  | — |  |  | (5) |  |  | 195 |
Mortgage and asset-backed debt securities | 12 |  |  | — |  |  | — |  |  | 12 |
Corporate debt securities | 125 |  |  | — |  |  | (3) |  |  | 122 |
U.S. state and local municipal debt securities | 5 |  |  | — |  |  | — |  |  | 5 |
Non-U.S. government debt securities | — |  |  | — |  |  | — |  |  | — |
Total available-for-sale marketable securities | 342 |  |  | — |  |  | (8) |  |  | 334 |
Total current marketable securities | $ | 344 |  |  | $ | — |  |  | $ | (8) |  |  | $ | 336 |
| Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
December 31, 2021: |  |  |  |  |  |  |
Current trading marketable securities: |  |  |  |  |  |  |
Equity securities | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |
Total trading marketable securities | 2 |  |  | — |  |  | — |  |  | 2 |
Current available-for-sale securities: |  |  |  |  |  |  |
U.S. government and agency debt securities | 199 |  |  | 2 |  |  | (1) |  |  | 200 |
Mortgage and asset-backed debt securities | 7 |  |  | — |  |  | — |  |  | 7 |
Corporate debt securities | 121 |  |  | — |  |  | — |  |  | 121 |
U.S. state and local municipal debt securities | 5 |  |  | — |  |  | — |  |  | 5 |
Non-U.S. government debt securities | 3 |  |  | — |  |  | — |  |  | 3 |
Total available-for-sale marketable securities | 335 |  |  | 2 |  |  | (1) |  |  | 336 |
Total current marketable securities | $ | 337 |  |  | $ | 2 |  |  | $ | (1) |  |  | $ | 338 |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of marketable securities as of June 30, 2022 by contractual maturity are shown below (in millions). Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations with or without prepayment penalties.
| Cost |  | Estimated Fair Value
Due in one year or less | $ | 30 |  |  | $ | 29 |
Due after one year through three years | 312 |  |  | 305 |
Due after three years through five years | — |  |  | — |
Due after five years | — |  |  | — |
| 342 |  |  | 334 |
Equity securities | 2 |  |  | 2 |
| $ | 344 |  |  | $ | 336 |
Cash and Cash Equivalents and Restricted Cash | A reconciliation of cash and cash equivalents and restricted cash from the consolidated balance sheets to the statements of consolidated cash flows is shown below (in millions):
|  | June 30, 2022 |  | December 31, 2021 |  | June 30, 2021
Cash and cash equivalents |  | $ | 11,735 |  |  | $ | 10,255 |  |  | $ | 9,608 |
Restricted cash |  | — |  |  | — |  |  | — |
Total cash, cash equivalents and restricted cash |  | $ | 11,735 |  |  | $ | 10,255 |  |  | 9,608 |
Fair Value, Assets Measured on Recurring Basis | The following table presents information about our investments measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions):
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Balance
June 30, 2022: |  |  |  |  |  |  |
Marketable securities: |  |  |  |  |  |  |
U.S. government and agency debt securities | $ | 195 |  |  | $ | — |  |  | $ | — |  |  | $ | 195 |
Mortgage and asset-backed debt securities | — |  |  | 12 |  |  | — |  |  | 12 |
Corporate debt securities | — |  |  | 122 |  |  | — |  |  | 122 |
U.S. state and local municipal debt securities | — |  |  | 5 |  |  | — |  |  | 5 |
Equity securities | — |  |  | 2 |  |  | — |  |  | 2 |
Non-U.S. government debt securities | — |  |  | — |  |  | — |  |  | — |
Total marketable securities | 195 |  |  | 141 |  |  | — |  |  | 336 |
Other non-current investments | 19 |  |  | — |  |  | — |  |  | 19 |
Total | $ | 214 |  |  | $ | 141 |  |  | $ | — |  |  | $ | 355 |
December 31, 2021: |  |  |  |  |  |  |
Marketable securities: |  |  |  |  |  |  |
U.S. government and agency debt securities | $ | 200 |  |  | $ | — |  |  | $ | — |  |  | $ | 200 |
Mortgage and asset-backed debt securities | — |  |  | 7 |  |  | — |  |  | 7 |
Corporate debt securities | — |  |  | 121 |  |  | — |  |  | 121 |
U.S. state and local municipal debt securities | — |  |  | 5 |  |  | — |  |  | 5 |
Equity securities | — |  |  | 2 |  |  | — |  |  | 2 |
Non-U.S. government debt securities | — |  |  | 3 |  |  | — |  |  | 3 |
Total marketable securities | 200 |  |  | 138 |  |  | — |  |  | 338 |
Other non-current investments | 23 |  |  | — |  |  | — |  |  | 23 |
Total | $ | 223 |  |  | $ | 138 |  |  | $ | — |  |  | $ | 361 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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