Marketable and Other Securities

12 Months Ended

Dec. 31, 2019

The following table summarizes the fair value of cash equivalents and marketable debt and equity securities, which approximates cost:



	Fair Value Level	December 31, 2019		December 31, 2018
Cash and cash equivalents
Cash and time deposits(a)		$	6,828	$	7,254
Available-for-sale debt securities
U.S. government and agencies	2	1,484		4,656
Corporate debt	2	5,863		3,791
Sovereign debt	2	2,123		1,976
Total available-for-sale debt securities – cash equivalents		9,470		10,423
Money market funds	1	2,771		3,167
Total cash and cash equivalents(b)		$	19,069	$	20,844
Marketable debt securities
U.S. government and agencies	2	$	226	$	1,230
Corporate debt	2	2,932		3,478
Mortgage and asset-backed	2	681		695
Sovereign debt	2	335		563
Total available-for-sale debt securities – marketable securities(c)		$	4,174	$	5,966
Restricted cash
Cash and cash equivalents		$	292	$	260
Money market funds	1	3,582		2,392
Total restricted cash		$	3,874	$	2,652

Available-for-sale debt securities included above with contractual maturities(d)
Due in one year or less		$	10,213
Due between one and five years		2,750
Total available-for-sale debt securities with contractual maturities		$	12,963

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(a)	Includes $248 million and $616 million that is designated exclusively to fund capital expenditures in GM Korea at December 31, 2019 and 2018. Refer to Note 20 for additional information.


(b)	Includes $2.3 billion in Cruise at December 31, 2019 and 2018. Refer to Note 20 for additional information.


(c)	Includes $266 million in Cruise at December 31, 2019.


(d)	Excludes mortgage- and asset-backed securities of $681 million at December 31, 2019 as these securities are not due at a single maturity date.

Proceeds from the sale of available-for-sale debt investments sold prior to maturity were $4.5 billion, $4.3 billion and $5.6 billion in the years ended December 31, 2019, 2018 and 2017. Net unrealized gains and losses on available-for-sale debt securities were insignificant in the years ended December 31, 2019, 2018 and 2017. Cumulative unrealized gains and losses on available-for-sale debt securities were insignificant at December 31, 2019 and 2018.

Our remaining investment in Lyft was measured at fair value at December 31, 2019 using Lyft’s quoted market price, a Level 1 input. Prior to Lyft's initial public offering, our investment in Lyft was measured at fair value using Level 3 inputs at December 31, 2018. The fair value of this investment was $535 million included in Other current assets and $884 million included in Other assets at December 31, 2019 and 2018. We recorded an insignificant unrealized loss and an unrealized gain of $142 million in Interest income and other non-operating income, net in the years ended December 31, 2019 and 2018.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows:



	December 31, 2019		December 31, 2018
Cash and cash equivalents	$	19,069	$	20,844
Restricted cash included in Other current assets	3,352		2,083
Restricted cash included in Other assets	522		569
Total	$	22,943	$	23,496