Non-marketable Equity Securities

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Non-marketable Equity Securities

Non-marketable Equity Securities

Our non-marketable equity securities are investments in privately-held companies without readily determinable fair values. The following table summarizes our non-marketable equity securities that were measured using measurement alternative and equity method (in millions):

	December 31,
	2022		2021
Non-marketable equity securities under measurement alternative:
Initial cost	$	6,388	$	6,480
Cumulative upward adjustments	293		311
Cumulative impairment/downward adjustments	(497)		(50)
Carrying value	6,184		6,741
Non-marketable equity securities under equity method	17		34
Total	$	6,201	$	6,775

During the year ended December 31, 2022, we recorded $447 million of impairment and downward adjustments on our non-marketable equity securities that were measured using measurement alternative, which includes the impairment of our equity investment in Giphy due to a regulatory decision announced by the United Kingdom Competition and Markets Authority in October 2022.