Fair Value Measurement of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of fair value of assets and liabilities measured on recurring basis

The following tables present our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 and 2018 (in millions):



	December 31, 2019		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash and cash equivalents	$	975	$	975	$	—	$	—
Short-term investments:
Restricted cash	21		21		—		—
Corporate debt securities	1,654		—		1,654		—
Government and agency securities	175		—		175		—
Total short-term investments	1,850		21		1,829		—
Derivatives	349		—		68		281
Long-term investments:
Corporate debt securities	961		—		961		—
Total long-term investments	961		—		961		—
Total financial assets	$	4,135	$	996	$	2,858	$	281

Liabilities:
Derivatives	$	25	$	—	$	25	$	—



	December 31, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash and cash equivalents	$	2,202	$	2,052	$	150	$	—
Short-term investments:
Restricted cash	17		17		—		—
Corporate debt securities	2,606		—		2,606		—
Government and agency securities	90		—		90		—
Total short-term investments	2,713		17		2,696		—
Derivatives	262		—		114		148
Long-term investments:
Corporate debt securities	3,635		—		3,635		—
Total long-term investments	3,635		—		3,635		—
Total financial assets	$	8,812	$	2,069	$	6,595	$	148

Liabilities:
Derivatives	$	48	$	—	$	48	$	—

Fair value, assets measured on recurring basis, unobservable input reconciliation

The following table presents a reconciliation of the opening to closing balance of assets measured using significant unobservable inputs (Level 3) as of December 31, 2019 (in millions):



	December 31, 2019		December 31, 2018
Opening balance as of January 1, 2019	$	148	$	—
Recognition of warrant	—		44
Change in fair value	133		104
Closing balance as of December 31, 2019	$	281	$	148