Cash, cash equivalents and current marketable securities (Tables)

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalent Composition

At the end of the fiscal year 2023 and 2022, cash, cash equivalents and current marketable securities comprised:

(Dollars in Millions)	2023
	Carrying  Amount	Unrecognized  Loss	Estimated  Fair Value	Cash & Cash Equivalents		Current Marketable Securities
Cash	$3,340	—	3,340		3,340	—
Non-U.S. Sovereign Securities(1)	522	—	522		174	348
U.S. Reverse repurchase agreements	4,377	—	4,377		4,377	—
Corporate debt securities(1)	338	—	338		189	149
Money market funds	4,814	—	4,814		4,814	—
Time deposits(1)	662	—	662		662	—
Subtotal	$14,053	—	14,053		13,556	497
U.S. Gov't Securities	$8,562	—	8,562		8,259	303
U.S. Gov't Agencies	71	(1)	70		—	70
Other Sovereign Securities	5	—	5		1	4
Corporate and other debt securities	237	—	237		43	194
Subtotal available for sale(2)	$8,875	(1)	8,874		8,303	571
Total cash, cash equivalents and current marketable securities					$21,859	1,068

(Dollars in Millions)	2022
	Carrying Amount	Unrecognized Loss	Estimated Fair Value	Cash & Cash Equivalents		Current Marketable Securities
Cash	$3,691	—	3,691		3,691	—
U.S. Reverse repurchase agreements	1,419	—	1,419		1,419	—
Corporate debt securities(1)	873	(1)	872		—	873
Money market funds	5,368	—	5,368		5,368	—
Time deposits(1)	443	—	443		443	—
Subtotal	11,794	(1)	11,793		10,921	873
U.S. Gov't Securities	$9,959	(28)	9,931		1,922	8,009
U.S. Gov't Agencies	210	(5)	205		—	205
Corporate and other debt securities	352	(1)	351		46	305
Subtotal available for sale(2)	$10,521	(34)	10,487		1,968	8,519
Total cash, cash equivalents and current marketable securities					$12,889	9,392

(1)Held to maturity investments are reported at amortized cost and realized gains or losses are reported in earnings.

(2)Available for sale debt securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income.

Contractual Maturities of Available for Sale Securities

The contractual maturities of the available for sale debt securities at December 31, 2023 are as follows:

(Dollars in Millions)	Cost Basis		Fair Value
Due within one year		$8,865	8,864
Due after one year through five years		10	10
Due after five years through ten years		—	—
Total debt securities		$8,875	8,874