Marketable and Other Securities

9 Months Ended

Sep. 30, 2023

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


	Fair Value Level	September 30, 2023		December 31, 2022
Cash and cash equivalents
Cash and time deposits		$	9,813	$	8,921
Available-for-sale debt securities
U.S. government and agencies	2	2,191		1,012
Corporate debt	2	5,962		2,778
Sovereign debt	2	2,876		1,828
Total available-for-sale debt securities – cash equivalents		11,029		5,618
Money market funds	1	4,382		4,613
Total cash and cash equivalents(a)		$	25,224	$	19,153
Marketable debt securities

U.S. government and agencies	2	$	3,767	$	4,357
Corporate debt	2	3,890		5,147
Mortgage and asset-backed	2	617		538
Sovereign debt	2	1,376		2,108
Total available-for-sale debt securities – marketable securities(b)		$	9,651	$	12,150
Restricted cash
Cash and cash equivalents		$	316	$	341
Money market funds	1	3,438		2,455
Total restricted cash		$	3,754	$	2,796

Available-for-sale debt securities included above with contractual maturities(c)
Due in one year or less		$	14,426
Due between one and five years		5,482
Total available-for-sale debt securities with contractual maturities		$	19,907

__________

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

(b)Includes $192 million and $1.4 billion in Cruise at September 30, 2023 and December 31, 2022.

(c)Excludes mortgage and asset-backed securities of $617 million at September 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 $454 million and $441 million in the three months ended September 30, 2023 and 2022 and $1.5 billion and $1.4 billion in the nine months ended September 30, 2023 and 2022. Net unrealized gains and losses on available-for-sale debt securities were insignificant in the three months ended September 30, 2023 and 2022. Net unrealized gains on available-for-sale debt securities were insignificant in the nine months ended September 30, 2023 and net unrealized losses on available-for-sale debt securities were $367 million in the nine months ended September 30, 2022. Cumulative unrealized losses on available-for-sale debt securities were $293 million and $344 million at September 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:


	September 30, 2023
Cash and cash equivalents	$	25,224
Restricted cash included in Other current assets	3,279
Restricted cash included in Other assets	475
Total	$	28,978