(In millions)

Fair

Value

Level

Adjusted

Cost

Basis

Unrealized

Gains

Unrealized

Losses

Recorded

Basis

Cash

and Cash

Equivalents

Short-term

Investments

Equity

Investments

December 31, 2023

Changes in Fair Value Recorded in Other Comprehensive Income

Commercial paper

Level 2

$

4,577

$

0

$

0

$

4,577

$

4,574

$

3

$

0

Certificates of deposit

Level 2

2,973

0

0

2,973

2,931

42

0

U.S. government securities

Level 1

54,775

11

(2,848

)

51,938

0

51,938

0

U.S. agency securities

Level 2

24

0

0

24

0

24

0

Foreign government bonds

Level 2

420

4

(12

)

412

7

405

0

Mortgage- and asset-backed securities

Level 2

926

5

(31

)

900

0

900

0

Corporate notes and bonds

Level 2

10,164

63

(349

)

9,878

0

9,878

0

Corporate notes and bonds

Level 3

129

0

0

129

0

129

0

Municipal securities

Level 2

282

1

(13

)

270

0

270

0

Municipal securities

Level 3

104

0

(16

)

88

0

88

0

Total debt investments

$

74,374

$

84

$

(3,269

)

$

71,189

$

7,512

$

63,677

$

0

Changes in Fair Value Recorded in Net Income

Equity investments

Level 1

$

3,276

$

257

$

0

$

3,019

Equity investments

Other

10,348

0

0

10,348

Total equity investments

$

13,624

$

257

$

0

$

13,367

Cash

$

9,536

$

9,536

$

0

$

0

Derivatives, net (a)

35

0

35

0

Total

$

94,384

$

17,305

$

63,712

$

13,367

(In millions)

Fair

Value

Level

Adjusted

Cost

Basis

Unrealized

Gains

Unrealized

Losses

Recorded

Basis

Cash

and Cash

Equivalents

Short-term

Investments

Equity

Investments

June 30, 2023

Changes in Fair Value Recorded in Other Comprehensive Income

Commercial paper

Level 2

$

16,589

$

0

$

0

$

16,589

$

12,231

$

4,358

$

0

Certificates of deposit

Level 2

2,701

0

0

2,701

2,657

44

0

U.S. government securities

Level 1

65,237

2

(3,870

)

61,369

2,991

58,378

0

U.S. agency securities

Level 2

2,703

0

0

2,703

894

1,809

0

Foreign government bonds

Level 2

498

1

(24

)

475

0

475

0

Mortgage- and asset-backed securities

Level 2

824

1

(39

)

786

0

786

0

Corporate notes and bonds

Level 2

10,809

8

(583

)

10,234

0

10,234

0

Corporate notes and bonds

Level 3

120

0

0

120

0

120

0

Municipal securities

Level 2

285

1

(18

)

268

7

261

0

Municipal securities

Level 3

103

0

(16

)

87

0

87

0

Total debt investments

$

99,869

$

13

$

(4,550

)

$

95,332

$

18,780

$

76,552

$

0

Changes in Fair Value Recorded in Net Income

Equity investments

Level 1

$

10,138

$

7,446

$

0

$

2,692

Equity investments

Other

7,187

0

0

7,187

Total equity investments

$

17,325

$

7,446

$

0

$

9,879

Cash

$

8,478

$

8,478

$

0

$

0

Derivatives, net (a)

6

0

6

0

Total

$

121,141

$

34,704

$

76,558

$

9,879