Investments (Tables)

3 Months Ended

Mar. 31, 2020

Marketable Securities [Line Items]

Marketable Securities

Our investments were as follows:

	March 31, 2020		December 31, 2019
	(in millions)
Short-term investments:
Equity investment security	$	27	$	26
Held-to-maturity investment securities	321		287
Time deposits (1)	48		466
Total short-term investments	$	396	$	779

Long-term investments:
Equity and cost method investments	$	40	$	17
Time deposits (1)	$	393	$	—
Total long-term investments	$	433	$	17

(1)As of March 31, 2020, $393 million in restricted time deposits were classified as long-term. As of December 31, 2019, $414 million in restricted time deposits were classified as short-term. See Note 8.

Held-to-maturity Securities [Member]

Marketable Securities [Line Items]

Unrealized Gain (Loss) on Investments

The amortized cost and fair value of our held-to-maturity investment securities were as follows:

	March 31, 2020				December 31, 2019
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(in millions)
Short-term investments, due within one year:
Corporate and other debt securities	$	146	$	146	$	101	$	101
Commercial paper	175		175		186		186
Total short-term held-to-maturity investments	$	321	$	321	$	287	$	287

Securities in Continuous Unrealized Loss Positions

The fair value and related unrealized losses of held-to-maturity investment securities in a continuous unrealized loss position for less than 12 months and for 12 months or longer were as follows as of March 31, 2020:

	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in millions)
Corporate and other debt securities	$	100	$	—	$	—	$	—	$	100	$	—
Commercial paper	49		—		—		—		49		—
Total	$	149	$	—	$	—	$	—	$	149	$	—

The fair value and related unrealized losses of held-to-maturity investment securities in a continuous unrealized loss position for less than 12 months and for 12 months or longer were as follows as of December 31, 2019:

	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in millions)
Corporate and other debt securities	$	42	$	—	$	—	$	—	$	42	$	—
Commercial paper	70		—		—		—		70		—
Total	$	112	$	—	$	—	$	—	$	112	$	—