Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

Our assets and liabilities that were measured at fair value on a recurring basis were as follows (in millions):

	September 30, 2023								December 31, 2022
	Fair Value		Level I		Level II		Level III		Fair Value		Level I		Level II		Level III
Money market funds	$	1,153	$	1,153	$	—	$	—	$	2,188	$	2,188	$	—	$	—
U.S. government securities	4,798		—		4,798		—		894		—		894		—
Corporate debt securities	559		—		559		—		885		—		885		—
Certificates of deposit and time deposits	4,788		—		4,788		—		4,253		—		4,253		—
Total	$	11,298	$	1,153	$	10,145	$	—	$	8,220	$	2,188	$	6,032	$	—

Unrealized Gain (Loss) on Investments

Our cash, cash equivalents and investments classified by security type as of September 30, 2023 and December 31, 2022 consisted of the following (in millions):

	September 30, 2023
	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Short-Term Investments
Cash	$	14,779	$	—	$	—	$	14,779	$	14,779	$	—
Money market funds	1,153		—		—		1,153		1,153		—
U.S. government securities	4,800		—		(2)		4,798		—		4,798
Corporate debt securities	569		1		(11)		559		—		559
Certificates of deposit and time deposits	4,788		—		—		4,788		—		4,788
Total cash, cash equivalents and short-term investments	$	26,089	$	1	$	(13)	$	26,077	$	15,932	$	10,145

	December 31, 2022
	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Short-Term Investments
Cash	$	13,965	$	—	$	—	$	13,965	$	13,965	$	—
Money market funds	2,188		—		—		2,188		2,188		—
U.S. government securities	897		—		(3)		894		—		894
Corporate debt securities	907		—		(22)		885		—		885
Certificates of deposit and time deposits	4,252		1		—		4,253		100		4,153
Total cash, cash equivalents and short-term investments	$	22,209	$	1	$	(25)	$	22,185	$	16,253	$	5,932

Summary of Fair Value of Marketable Securities by Contractual Maturities

The following table summarizes the fair value of our investments by stated contractual maturities as of September 30, 2023 (in millions):

Due in 1 year or less	$	9,734
Due in 1 year through 5 years	383
Due in 5 years through 10 years	28
Total	$	10,145

Schedule of Estimated Fair Values and Carrying Values

The following table presents the estimated fair values and the carrying values (in millions):

	September 30, 2023				December 31, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
2024 Notes	$	37	$	452	$	37	$	223
Digital assets, net	$	184	$	311	$	184	$	191