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Investments
 6 Months Ended
Jun. 30, 2021
Investments [Abstract]  
Investments
Our investments were as follows:
(in millions)June 30, 2021December 31, 2020
Short-term investments:
Equity investment security$27 $27 
Available-for-sale investment securities105 — 
Held-to-maturity investment securities27 14 
Time deposits323 3 
Total short-term investments$482 $44 
Long-term investments:
Equity and cost method investments$36 $35 
Restricted time deposits(1)
397 405 
Total long-term investments$433 $440 
(1)See Note 8.
Equity Investment Security
Our equity investment security is a U.S. dollar denominated investment in a fixed income mutual fund. Realized and unrealized gains and losses were immaterial for the three and six months ended June 30, 2021 and 2020.
Available-for-Sale Investment Securities
Our available-for-sale investment securities consist of highly rated U.S. dollar denominated investments in commercial paper maturing within one year. As of June 30, 2021, the amortized cost and fair value of our available-for-sale investments was $105 million. Unrealized gains and losses were immaterial as of June 30, 2021 and there were no realized gains or losses related to our available-for-sale investment securities during the six months ended June 30, 2021 and 2020.
Held-to-Maturity Investment Securities
Our held-to-maturity investment securities consist of Indian rupee denominated investments in commercial paper and international corporate bonds. Our investment guidelines are to purchase securities that are investment grade at the time of acquisition. The basis for the measurement of fair value of our held-to-maturity investments is Level 2 in the fair value hierarchy.
The amortized cost and fair value of held-to-maturity investment securities were as follows:
(in millions)June 30, 2021December 31, 2020
 Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Short-term investments, maturing within one year:
Corporate and other debt securities$7 $7 $14 $14 
Commercial paper20 20 — — 
Total short-term held-to-maturity investments$27 $27 $14 $14 
As of June 30, 2021, commercial paper securities in the amount of $3 million were in an unrealized loss position. The total unrealized loss was less than $1 million and none of the securities had been in an unrealized loss position for longer than 12 months. As of December 31, 2020, there were no held-to-maturity investment securities in an unrealized loss position.
The securities in our portfolio are highly rated and short-term in nature. As of June 30, 2021, our corporate and other debt securities were rated AA+ or better and our commercial paper securities were rated A-1+ by CRISIL, an Indian subsidiary of S&P Global.
Equity and Cost Method Investments
As of June 30, 2021 and December 31, 2020, we had equity method investments of $33 million and $31 million, respectively, and cost method investments of $3 million and $4 million, respectively.