Marketable and Other Securities

6 Months Ended

Jun. 30, 2022

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


	Fair Value Level	June 30, 2022		December 31, 2021
Cash and cash equivalents
Cash and time deposits		$	9,092	$	7,881
Available-for-sale debt securities
U.S. government and agencies	2	152		722
Corporate debt	2	3,371		5,321
Sovereign debt	2	955		2,105
Total available-for-sale debt securities – cash equivalents		4,478		8,148
Money market funds	1	3,140		4,038
Total cash and cash equivalents(a)		$	16,710	$	20,067
Marketable debt securities

U.S. government and agencies	2	$	2,921	$	2,071
Corporate debt	2	3,570		3,396
Mortgage and asset-backed	2	605		575
Sovereign debt	2	3,028		2,567
Total available-for-sale debt securities – marketable securities(b)		$	10,124	$	8,609
Restricted cash
Cash and cash equivalents		$	366	$	466
Money market funds	1	2,639		3,009
Total restricted cash		$	3,005	$	3,475

Available-for-sale debt securities included above with contractual maturities(c)
Due in one year or less		$	9,103
Due between one and five years		4,831
Total available-for-sale debt securities with contractual maturities		$	13,934

__________

(a)Includes $1.8 billion and $1.6 billion in Cruise at June 30, 2022 and December 31, 2021.

(b)Includes $1.8 billion and $1.5 billion in Cruise at June 30, 2022 and December 31, 2021.

(c)Excludes mortgage and asset-backed securities of $605 million at June 30, 2022 as these securities are not due at a single maturity date.

Proceeds from the sale of available-for-sale debt securities sold prior to maturity were $494 million and $557 million in the three months ended June 30, 2022 and 2021 and $1.0 billion and $1.1 billion in the six months ended June 30, 2022 and 2021. Net unrealized losses on available-for-sale debt securities were insignificant in the three months ended June 30, 2022 and 2021. Net unrealized losses on available-for-sale debt were $261 million and insignificant in the six months ended June 30, 2022 and 2021. Cumulative unrealized losses on available-for-sale debt securities were $276 million and insignificant at June 30, 2022 and December 31, 2021.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the total shown in the condensed consolidated statement of cash flows:


	June 30, 2022
Cash and cash equivalents	$	16,710
Restricted cash included in Other current assets	2,509
Restricted cash included in Other assets	496
Total	$	19,715