Fair Value Measurements and Investments (Tables)

3 Months Ended

Dec. 31, 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 Using Inputs Considered as
	Level 1				Level 2
	December 31, 2022		September 30, 2022		December 31, 2022		September 30, 2022
	(in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds	$	10,078	$	11,736	$	—	$	—
U.S. government-sponsored debt securities	—		—		400		—
U.S. Treasury securities	180		799		—		—
Investment securities:
Marketable equity securities	346		437		—		—
U.S. government-sponsored debt securities	—		—		964		457
U.S. Treasury securities	4,210		4,005		—		—
Other current and non-current assets:
Money market funds	22		22		—		—
Derivative instruments	—		—		245		1,131
Total	$	14,836	$	16,999	$	1,609	$	1,588
Liabilities
Accrued compensation and benefits:
Deferred compensation liability	$	184	$	146	$	—	$	—
Accrued and other liabilities:
Derivative instruments	—		—		398		418
Total	$	184	$	146	$	398	$	418

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:


	December 31, 2022
	Amortized Cost		Gross Unrealized				Fair Value
			Gains		Losses
	(in millions)
U.S. government-sponsored debt securities	$	1,364	$	1	$	(1)	$	1,364
U.S. Treasury securities	4,509		2		(121)		4,390
Total	$	5,873	$	3	$	(122)	$	5,754


	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 unrealized losses for less than 12 months and 12 months or greater were as follows:


	December 31, 2022
	Less Than 12 Months				12 Months or Greater
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(in millions)
U.S. government-sponsored debt securities	$	347	$	(1)	$	—	$	—
U.S. Treasury securities	1,598		(38)		1,966		(83)
Total	$	1,945	$	(39)	$	1,966	$	(83)


	September 30, 2022
	Less Than 12 Months
	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:


	December 31, 2022
	(in millions)
Due within one year	$	3,019
Due after 1 year through 5 years	2,735
Total	$	5,754

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 December 31, 2022 including cumulative unrealized gains and losses:


	December 31, 2022
	(in millions)
Initial cost basis	$	739
Adjustments:
Upward adjustments	827
Downward adjustments (including impairment)	(349)
Carrying amount, end of period	$	1,217

Unrealized gains and losses included in the carrying value of the Company’s non-marketable equity securities still held as of December 31, 2022 and 2021 were as follows:


	Three Months Ended December 31,
		2022		2021
		(in millions)
Upward adjustments		$	17	$	224
Downward adjustments (including impairment)		$	—	$	—