Marketable and Other Securities

6 Months Ended

Jun. 30, 2024

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


	Fair Value Level	June 30, 2024		December 31, 2023
Cash and cash equivalents
Cash and time deposits		$	12,777	$	8,977
Available-for-sale debt securities
U.S. government and agencies	2	200		211
Corporate debt	2	2,936		1,439
Sovereign debt	2	1,310		734
Total available-for-sale debt securities – cash equivalents		4,446		2,384
Money market funds	1	5,292		7,491
Total cash and cash equivalents		$	22,516	$	18,853
Marketable debt securities

U.S. government and agencies	2	$	3,575	$	3,495
Corporate debt and other	2	4,160		3,529

Mortgage and asset-backed	2	577		589

Total available-for-sale debt securities – marketable securities		$	8,313	$	7,613
Restricted cash
Cash and cash equivalents		$	354	$	277
Money market funds	1	2,750		2,787
Total restricted cash		$	3,104	$	3,064

Available-for-sale debt securities included above with contractual maturities(a)
Due in one year or less		$	6,225
Due between one and five years		5,787

Total available-for-sale debt securities with contractual maturities		$	12,012

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(a)Excludes mortgage and asset-backed securities of $577 million at June 30, 2024 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 $584 million and $638 million in the three months ended June 30, 2024 and 2023 and $1.1 billion and $1.0 billion in the six months ended June 30, 2024 and 2023. Net unrealized gains and losses on available-for-sale debt securities were insignificant in the three months ended June 30, 2024 and 2023. Net unrealized gains on available-for-sale debt securities were insignificant in the six months ended June 30, 2024 and 2023. Cumulative unrealized losses on available-for-sale debt securities were $144 million and $160 million at June 30, 2024 and December 31, 2023.

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


	June 30, 2024
Cash and cash equivalents	$	22,516
Restricted cash included in Other current assets	2,652
Restricted cash included in Other assets	452
Total	$	25,620