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Financial Instruments
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Financial Instruments FINANCIAL INSTRUMENTS
Cash, Cash Equivalents, Restricted Cash, and Marketable Securities
As of December 31, 2023 and 2024, our cash, cash equivalents, restricted cash, and marketable securities primarily consisted of cash, AAA-rated money market funds, U.S. and foreign government and agency securities, other investment grade securities, and marketable equity securities. Cash equivalents and marketable securities are recorded at fair value. 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
  
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$11,706 $— $— $11,706 
Level 1 securities:
Money market funds39,160 — — 39,160 
Equity securities (1)4,658 
Level 2 securities:
Foreign government and agency securities505 — — 505 
U.S. government and agency securities1,789 1 (91)1,699 
Corporate debt securities27,996 — (191)27,805 
Asset-backed securities1,707 — (61)1,646 
Other debt securities108 — (4)104 
$82,971 $1 $(347)$87,283 
Less: Restricted cash, cash equivalents, and marketable securities (2)(503)
Total cash, cash equivalents, and marketable securities$86,780 
 December 31, 2024
  
Cost or
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Total
Estimated
Fair Value
Cash$17,055 $— $— $17,055 
Level 1 securities:
Money market funds28,282 — — 28,282 
Equity securities (1)3,318 
Level 2 securities:
Foreign government and agency securities177 — — 177 
U.S. government and agency securities3,452 1 (52)3,401 
Corporate debt securities50,959 3 (50)50,912 
Asset-backed securities1,539 2 (18)1,523 
Other debt securities68 — (1)67 
$101,532 $6 $(121)$104,735 
Less: Restricted cash, cash equivalents, and marketable securities (2)(3,533)
Total cash, cash equivalents, and marketable securities$101,202 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $(13.6) billion, $1.0 billion, and $(1.3) billion for the years ended December 31, 2022, 2023, and 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, standby and trade letters of credit, and licenses of digital media content. 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 7 — Commitments and Contingencies.”
The following table summarizes gross gains and gross losses realized on sales of marketable debt securities (in millions):
Year Ended December 31,
202220232024
Realized gains$43 $2 $3 
Realized losses341 67 10 
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable debt securities as of December 31, 2024 (in millions):
Amortized
Cost		Estimated
Fair Value
Due within one year$78,065 $78,046 
Due after one year through five years5,023 4,969 
Due after five years through ten years560 553 
Due after ten years829 794 
Total$84,477 $84,362 
Actual maturities may differ from the contractual maturities because borrowers may have certain prepayment conditions.
Consolidated Statements of Cash Flows Reconciliation
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, 2023December 31, 2024
Cash and cash equivalents$73,387 $78,779 
Restricted cash included in accounts receivable, net and other497 247 
Restricted cash included in other assets6 3,286 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$73,890 $82,312