Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

The following table summarizes, by major security type, our cash, cash equivalents, restricted cash, and marketable securities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy (in millions):


	December 31, 2023		March 31, 2024
	Total Estimated Fair Value		Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Total Estimated Fair Value
Cash	$	11,706	$	11,633	$	—	$	—	$	11,633
Level 1 securities:
Money market funds	39,160		28,676		—		—		28,676
Equity securities (1)	4,658								2,575
Level 2 securities:
Foreign government and agency securities	505		19		—		—		19
U.S. government and agency securities	1,699		2,641		1		(89)		2,553
Corporate debt securities	27,805		38,636		—		(146)		38,490
Asset-backed securities	1,646		1,554		—		(45)		1,509
Other debt securities	104		102		—		(3)		99

	$	87,283	$	83,261	$	1	$	(283)	$	85,554
Less: Restricted cash, cash equivalents, and marketable securities (2)	(503)								(480)
Total cash, cash equivalents, and marketable securities	$	86,780							$	85,074

___________________

(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $(479) million and $(2.1) billion in Q1 2023 and Q1 2024.

(2)We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable debt securities primarily as collateral for real estate, amounts due to third-party sellers in certain jurisdictions, debt, and standby and trade letters of credit. We classify cash, cash equivalents, and marketable debt securities with use restrictions of less than twelve months as “Accounts receivable, net and other” and of twelve months or longer as non-current “Other assets” on our consolidated balance sheets. See “Note 4 — Commitments and Contingencies.”

Investments Classified by Contractual Maturity Date

The following table summarizes the remaining contractual maturities of our cash equivalents and marketable debt securities as of March 31, 2024 (in millions):


	Amortized Cost		Estimated Fair Value
Due within one year	$	66,539	$	66,481
Due after one year through five years	3,810		3,652
Due after five years through ten years	404		389
Due after ten years	875		824
Total	$	71,628	$	71,346

Consolidated Statements of Cash Flow Reconciliation - Cash and Cash Equivalents

The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows (in millions):


	December 31, 2023		March 31, 2024
Cash and cash equivalents	$	73,387	$	72,852
Restricted cash included in accounts receivable, net and other	497		474
Restricted cash included in other assets	6		6
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$	73,890	$	73,332

Consolidated Statements of Cash Flow Reconciliation - Restricted Cash


	December 31, 2023		March 31, 2024
Cash and cash equivalents	$	73,387	$	72,852
Restricted cash included in accounts receivable, net and other	497		474
Restricted cash included in other assets	6		6
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$	73,890	$	73,332