XML 40 R28.htm IDEA: XBRL DOCUMENT v3.20.2
CASH AND INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2020
Marketable Securities [Abstract]  
Available-for-sale Securities
The following is a summary of marketable securities classified as trading and available-for-sale as of June 30, 2020 and December 31, 2019 (in millions):
CostUnrealized
Gains		Unrealized
Losses		Estimated
Fair Value
June 30, 2020:
Current trading marketable securities:
Equity securities2  —  —  2  
Total trading marketable securities2  —  —  2  
Current available-for-sale securities:
U.S. government and agency debt securities190  6  —  196  
Mortgage and asset-backed debt securities38  2  (1) 39  
Corporate debt securities151  4  —  155  
Non-U.S. government debt securities11  —  —  11  
Total available-for-sale marketable securities390  12  (1) 401  
Total current marketable securities$392  $12  $(1) $403  
 CostUnrealized
Gains		Unrealized
Losses		Estimated
Fair Value
December 31, 2019:
Current trading marketable securities:
Corporate debt securities$112  $—  $—  $112  
Equity securities2  —  —  2  
Total trading marketable securities114  —  —  114  
Current available-for-sale securities:
U.S. government and agency debt securities191  2  —  193  
Mortgage and asset-backed debt securities46  1  —  47  
Corporate debt securities130  3  —  133  
Non-U.S. government debt securities16  —  —  16  
Total available-for-sale marketable securities383  6  —  389  
Total current marketable securities$497  $6  $—  $503  
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of marketable securities at June 30, 2020, by contractual maturity, are shown below (in millions). Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations with or without prepayment penalties.
CostEstimated
Fair Value
Due in one year or less$20  $20  
Due after one year through three years324  332  
Due after three years through five years6  6  
Due after five years40  43  
390  401  
Equity securities2  2  
$392  $403  
Cash and Cash Equivalents and Restricted Cash
A reconciliation of cash and cash equivalents and restricted cash from the consolidated balance sheets to the statements of consolidated cash flows is shown below (in millions):
June 30, 2020December 31, 2019June 30, 2019
Cash and cash equivalents$8,813  $5,238  $4,072  
Restricted cash1  —  144  
Total cash, cash equivalents and restricted cash$8,814  $5,238  $4,216  
Fair Value, Assets Measured on Recurring Basis
The following table presents information about our investments measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions):
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Balance 
June 30, 2020:
Marketable Securities:
U.S. government and agency debt securities$196  $—  $—  $196  
Mortgage and asset-backed debt securities—  39  —  39  
Corporate debt securities—  155  —  155  
Equity securities—  2  —  2  
Non-U.S. government debt securities—  11  —  11  
Total marketable securities196  207  —  403  
Other non-current investments21  —  —  21  
Total$217  $207  $—  $424  

December 31, 2019:
Marketable Securities:
U.S. government and agency debt securities$193  $—  $—  $193  
Mortgage and asset-backed debt securities—  47  —  47  
Corporate debt securities—  245  —  245  
Equity securities—  2  —  2  
Non-U.S. government debt securities—  16  —  16  
Total marketable securities193  310  —  503  
Other non-current investments21  —  1  22  
Total$214  $310  $1  $525  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation There were no transfers of investments between Level 1 and Level 2 during the six months ended June 30, 2020 or 2019.