Marketable and Other Securities

9 Months Ended

Sep. 30, 2022

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


	Fair Value Level	September 30, 2022		December 31, 2021
Cash and cash equivalents
Cash and time deposits		$	9,315	$	7,881
Available-for-sale debt securities
U.S. government and agencies	2	788		722
Corporate debt	2	3,974		5,321
Sovereign debt	2	1,169		2,105
Total available-for-sale debt securities – cash equivalents		5,931		8,148
Money market funds	1	5,499		4,038
Total cash and cash equivalents(a)		$	20,745	$	20,067
Marketable debt securities

U.S. government and agencies	2	$	2,856	$	2,071
Corporate debt	2	3,646		3,396
Mortgage and asset-backed	2	572		575
Sovereign debt	2	2,492		2,567
Total available-for-sale debt securities – marketable securities(b)		$	9,566	$	8,609
Restricted cash
Cash and cash equivalents		$	296	$	466
Money market funds	1	2,458		3,009
Total restricted cash		$	2,755	$	3,475

Available-for-sale debt securities included above with contractual maturities(c)
Due in one year or less		$	10,152
Due between one and five years		4,709
Total available-for-sale debt securities with contractual maturities		$	14,862

__________

(a)Includes $1.7 billion and $1.6 billion in Cruise at September 30, 2022 and December 31, 2021.

(b)Includes $1.6 billion and $1.5 billion in Cruise at September 30, 2022 and December 31, 2021.

(c)Excludes mortgage and asset-backed securities of $572 million at September 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 $441 million and $301 million in the three months ended September 30, 2022 and 2021 and $1.4 billion in the nine months ended September 30, 2022 and 2021. Net unrealized losses on available-for-sale debt securities were insignificant in the three months ended September 30, 2022 and 2021 and were $367 million and insignificant in the nine months ended September 30, 2022 and 2021. Cumulative unrealized losses on available-for-sale debt securities were $384 million and insignificant at September 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:


	September 30, 2022
Cash and cash equivalents	$	20,745
Restricted cash included in Other current assets	2,296
Restricted cash included in Other assets	459
Total	$	23,499