XML 85 R10.htm IDEA: XBRL DOCUMENT v3.19.3
Marketable and Other Securities
 9 Months Ended
Sep. 30, 2019
Marketable Securities [Abstract]  
Marketable and Other Securities Marketable and Other Securities
The following table summarizes the fair value of cash equivalents and marketable debt securities which approximates cost:
 
Fair Value Level
 
September 30, 2019

December 31, 2018
Cash and cash equivalents
 
 




Cash and time deposits(a)
 
 
$
8,388


$
7,254

Available-for-sale debt securities
 
 




U.S. government and agencies
2
 
1,846


4,656

Corporate debt
2
 
5,923


3,791

Sovereign debt
2
 
1,435


1,976

Total available-for-sale debt securities – cash equivalents
 
 
9,204


10,423

Money market funds
1
 
2,459


3,167

Total cash and cash equivalents(b)
 
 
$
20,051


$
20,844

Marketable debt securities
 
 
 
 


U.S. government and agencies
2
 
$
1,770


$
1,230

Corporate debt
2
 
3,716


3,478

Mortgage and asset-backed
2
 
807


695

Sovereign debt
2
 
432


563

Total available-for-sale debt securities – marketable securities(c)
 
 
$
6,725


$
5,966

Restricted cash
 
 
 

 
Cash and cash equivalents
 
 
$
282


$
260

Money market funds
1
 
2,566


2,392

Total restricted cash
 
 
$
2,848


$
2,652

 
 
 
 
 
 
Available-for-sale debt securities included above with contractual maturities(d)
 
 
 
 
Due in one year or less
 
 
$
10,708

 
 
Due between one and five years
 
 
4,414

 
 
Total available-for-sale debt securities with contractual maturities
 
 
$
15,122

 
 

__________
(a)
Includes $481 million and $616 million that is designated exclusively to fund capital expenditures in GM Korea Company (GM Korea) at September 30, 2019 and December 31, 2018.
(b)
Includes $2.2 billion and $2.3 billion in Cruise at September 30, 2019 and December 31, 2018.
(c)
Includes $586 million in Cruise at September 30, 2019.
(d)
Excludes mortgage- and asset-backed securities.

Proceeds from the sale of available-for-sale debt investments sold prior to maturity were $535 million and $1.7 billion in the three months ended September 30, 2019 and 2018 and $1.6 billion and $3.6 billion in the nine months ended September 30, 2019 and 2018. Net unrealized gains and losses on available-for-sale debt securities were insignificant in the three and nine months ended September 30, 2019 and 2018. Cumulative unrealized gains and losses on available-for-sale debt securities were insignificant at September 30, 2019 and December 31, 2018.

Our remaining investment in Lyft, Inc. (Lyft) was measured at fair value at September 30, 2019 using Lyft’s quoted market price, a Level 1 input. The restrictions on selling or transferring the investment expired on August 19, 2019 and the fair value measurement no longer reflects a discount for the lack of marketability, a Level 3 input. The fair value of this investment was $679 million, included in Other current assets, and $884 million, included in Other assets, at September 30, 2019 and December 31, 2018. We recorded an unrealized loss of $291 million and $71 million in Interest income and other non-operating income, net in the three and nine months ended September 30, 2019 and an unrealized gain of $142 million in the nine months ended September 30, 2018. Refer to Item 3. Quantitative and Qualitative Disclosures About Market Risk for exposure to equity price market risk.
 
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet to the total shown in the condensed consolidated statement of cash flows:
 
September 30, 2019
Cash and cash equivalents
$
20,051

Restricted cash included in Other current assets
2,300

Restricted cash included in Other assets
548

Total
$
22,899