Investments (Tables)

6 Months Ended

Jun. 30, 2020

Investments [Abstract]

Marketable Securities

Our investments were as follows:

	June 30, 2020		December 31, 2019
	(in millions)
Short-term investments:
Equity investment security	$	27	$	26
Held-to-maturity investment securities	130		287
Time deposits (1)	3		466
Total short-term investments	$	160	$	779

Long-term investments:
Equity and cost method investments	$	38	$	17
Time deposits (1)	391		—
Total long-term investments	$	429	$	17

(1)As of June 30, 2020, $391 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.

Unrealized Gain (Loss) on Investments

The amortized cost, gross unrealized gains and losses and fair value of held-to-maturity investment securities at June 30, 2020 were as follows:

	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(in millions)
Short-term investments, due within one year:
Corporate and other debt securities	$	56	$	—	$	—	$	56
Commercial paper	74		1		—		75
Total short-term held-to-maturity investments	$	130	$	1	$	—	$	131

The amortized cost, gross unrealized gains and losses and fair value of held-to-maturity investment securities at December 31, 2019 were as follows:

	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(in millions)
Short-term investments, due within one year:
Corporate and other debt securities	$	101	$	—	$	—	$	101
Commercial paper	186		—		—		186
Total short-term held-to-maturity investments	$	287	$	—	$	—	$	287