Fair Value Measurements and Investments (Tables)

12 Months Ended

Sep. 30, 2022

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

Assets and Liabilities Measured at Fair Value on a Recurring Basis


	Fair Value Measurements at September 30 Using Inputs Considered as
	Level 1				Level 2
	2022		2021		2022		2021
	(in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds	$	11,736	$	11,779	$	—	$	—
U.S. government-sponsored debt securities	—		—		—		100
U.S. Treasury securities	799		2,400		—		—
Investment securities:
Marketable equity securities	437		490		—		—
U.S. government-sponsored debt securities	—		—		457		245
U.S. Treasury securities	4,005		2,985		—		—
Other current and non-current assets:
Money market funds	22		4		—		—
Derivative instruments	—		—		1,131		410
Total	$	16,999	$	17,658	$	1,588	$	755
Liabilities
Accrued compensation and benefits:
Deferred compensation liability	$	146	$	167	$	—	$	—
Accrued and other liabilities:
Derivative instruments	—		—		418		109
Total	$	146	$	167	$	418	$	109

Schedule of Amortized Cost, Unrealized Gains and Losses, and Fair Value of Debt Securities

The amortized cost, unrealized gains and losses and fair value of debt securities were as follows:


	September 30, 2022
	Amortized Cost		Gross Unrealized				Fair Value
			Gains		Losses
	(in millions)
U.S. government-sponsored debt securities	$	458	$	—	$	(1)	$	457
U.S. Treasury securities	4,937		—		(133)		4,804
Total	$	5,395	$	—	$	(134)	$	5,261

Debt securities with continuous unrealized losses for less than 12 months were as follows:


	September 30, 2022
	Fair Value		Gross Unrealized Losses
	(in millions)
U.S. government-sponsored debt securities	$	408	$	(1)
U.S. Treasury securities	3,507		(133)
Total	$	3,915	$	(134)

Debt Securities Classified by Contractual Maturity Date

The stated maturities of debt securities were as follows:


	September 30, 2022
	(in millions)
Due within one year	$	3,125
Due after 1 year through 5 years	2,136
Total	$	5,261

Schedule of Non-Marketable Equity Securities

The following table summarizes the total carrying value of the Company’s non-marketable equity securities held as of September 30, 2022 including cumulative unrealized gains and losses:


	September 30, 2022
	(in millions)
Initial cost basis	$	734
Adjustments:
Upward adjustments	810
Downward adjustments (including impairment)	(349)
Carrying amount, end of period	$	1,195

Unrealized gains and losses included in the carrying value of the Company’s non-marketable equity securities still held as of September 30, 2022 and 2021 were as follows:


	For the Years Ended September 30,
	2022		2021
	(in millions)
Upward adjustments	$	231	$	484
Downward adjustments (including impairment)	$	(341)	$	(3)

Schedule of Investment Income

Investment income (expense) is recorded as non-operating income (expense) in the Company’s consolidated statements of operations and consisted of the following:


	For the Years Ended September 30,
	2022		2021		2020
	(in millions)
Interest and dividend income on cash and investments	$	69	$	(16)	$	80
Realized gains (losses), net on debt securities	—		—		4
Equity securities:
Unrealized gains (losses), net	(364)		721		115
Realized gains (losses), net	68		26		1
Investment income (expense)	$	(227)	$	731	$	200