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Marketable and Other Securities

12 Months Ended

Dec. 31, 2024

Marketable Securities [Abstract]

Marketable and Other Securities

Marketable and Other Securities

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

			Fair Value Level						December 31, 2024						December 31, 2023
Cash and cash equivalents
Cash and time deposits									$	12,471					$	8,977
Available-for-sale debt securities
U.S. government and agencies			2						26						211
Corporate debt			2						1,541						1,439
Sovereign debt			2						785						734
Total available-for-sale debt securities – cash equivalents									2,351						2,384
Money market funds			1						5,050						7,491
Total cash and cash equivalents									$	19,872					$	18,853
Marketable debt securities
U.S. government and agencies			2						$	3,082					$	3,495
Corporate debt and other			2						3,592						3,529
Mortgage and asset-backed			2						591						589
Total available-for-sale debt securities – marketable securities									$	7,265					$	7,613
Restricted cash
Cash and cash equivalents									$	294					$	277
Money market funds			1						2,798						2,787
Total restricted cash									$	3,092					$	3,064
Available-for-sale debt securities included above with contractual maturities(a)
Due in one year or less									$	3,590
Due between one and five years									5,386
Total available-for-sale debt securities with contractual maturities									$	8,976

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(a)    Excludes mortgage and asset-backed securities of $591 million at December 31, 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 $2.5 billion, $2.1 billion and $1.8 billion in the years ended December 31, 2024, 2023 and 2022. Available-for-sale debt securities had net unrealized gains of $86 million and $196 million in the years ended December 31, 2024 and 2023 and net unrealized losses of $319 million in the year ended December 31, 2022. Cumulative unrealized losses on available-for-sale debt securities were $74 million and $160 million at December 31, 2024 and 2023.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows:

			December 31, 2024						December 31, 2023
Cash and cash equivalents			$	19,872					$	18,853
Restricted cash included in Other current assets			2,608						2,604
Restricted cash included in Other assets			484						460
Total			$	22,964					$	21,917

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- Definition

The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/320/tableOfContent

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- References

No definition available.

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