Marketable and Other Securities

6 Months Ended

Jun. 30, 2023

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


	Fair Value Level	June 30, 2023		December 31, 2022
Cash and cash equivalents
Cash and time deposits		$	10,542	$	8,921
Available-for-sale debt securities
U.S. government and agencies	2	19		1,012
Corporate debt	2	3,731		2,778
Sovereign debt	2	1,404		1,828
Total available-for-sale debt securities – cash equivalents		5,155		5,618
Money market funds	1	7,377		4,613
Total cash and cash equivalents(a)		$	23,074	$	19,153
Marketable debt securities

U.S. government and agencies	2	$	3,910	$	4,357
Corporate debt	2	3,687		5,147
Mortgage and asset-backed	2	588		538
Sovereign debt	2	1,372		2,108
Total available-for-sale debt securities – marketable securities(b)		$	9,556	$	12,150
Restricted cash
Cash and cash equivalents		$	379	$	341
Money market funds	1	3,301		2,455
Total restricted cash		$	3,680	$	2,796

Available-for-sale debt securities included above with contractual maturities(c)
Due in one year or less		$	8,364
Due between one and five years		5,675
Total available-for-sale debt securities with contractual maturities		$	14,038

__________

(a)Includes $1.9 billion and $1.5 billion in Cruise at June 30, 2023 and December 31, 2022.

(b)Includes $215 million and $1.4 billion in Cruise at June 30, 2023 and December 31, 2022.

(c)Excludes mortgage and asset-backed securities of $588 million at June 30, 2023 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 $638 million and $494 million in the three months ended June 30, 2023 and 2022 and $1.0 billion in the six months ended June 30, 2023 and 2022. Net unrealized losses on available-for-sale debt securities were insignificant in the three months ended June 30, 2023 and 2022. Net unrealized gains on available-for-sale debt securities were insignificant in the six months ended June 30, 2023 and net unrealized losses on available-for-sale debt securities were $261 million in the six months ended June 30, 2022. Cumulative unrealized losses on available-for-sale debt securities were $303 million and $344 million at June 30, 2023 and December 31, 2022.

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, 2023
Cash and cash equivalents	$	23,074
Restricted cash included in Other current assets	3,212
Restricted cash included in Other assets	468
Total	$	26,753