Equity Investments (Notes)

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Equity Investments

Equity Investments

Our equity investments are investments in equity securities of privately-held companies without readily determinable market values. On July 7, 2020, we completed our equity investment in Jio Platforms Limited (Jio), a subsidiary of Reliance Industries Limited, for $5.82 billion. As of September 30, 2020, our equity investments in Jio and other companies had a carrying value of $6.16 billion. There was no material impairment in the three and nine months ended September 30, 2020.

The changes in the carrying value of equity investments for the nine months ended September 30, 2020 are as follows (in millions): 

Balance as of December 31, 2019	$	86
Jio	5,824
Other investments	263
Adjustments	(9		)
Balance as of September 30, 2020	$	6,164