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Investments
 9 Months Ended
Sep. 30, 2021
Investments [Abstract]  
Investments
Our investments were as follows:
(in millions)September 30, 2021December 31, 2020
Short-term investments:
Equity investment security$27 $27 
Available-for-sale investment securities295 — 
Held-to-maturity investment securities23 14 
Time deposits404 3 
Total short-term investments$749 $44 
Long-term investments:
Equity and cost method investments$67 $35 
Restricted time deposits(1)
399 405 
Total long-term investments$466 $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 nine months ended September 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 September 30, 2021, the amortized cost and fair value of our available-for-sale investments were $295 million. Unrealized gains and losses were immaterial as of September 30, 2021 and there were no realized gains or losses related to our available-for-sale investment securities during the nine months ended September 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 investment securities 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)September 30, 2021December 31, 2020
 Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Short-term investments, maturing within one year:
Corporate and other debt securities$3 $3 $14 $14 
Commercial paper20 20 — — 
Total short-term held-to-maturity investments$23 $23 $14 $14 
As of September 30, 2021, corporate and other debt securities in the amount of $3 million and commercial paper in the amount of $7 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 September 30, 2021, our corporate and other debt securities were rated AAA and our commercial paper securities were rated A-1+ by CRISIL, an Indian subsidiary of S&P Global.
Equity and Cost Method Investments
During the third quarter of 2021, we increased our equity method investment in the technology sector by $32 million. As of September 30, 2021 and December 31, 2020, we had equity method investments of $64 million and $31 million, respectively, and cost method investments of $3 million and $4 million, respectively.