Cash, Cash Equivalents, and Marketable Securities

9 Months Ended

Sep. 30, 2018

CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES

The following table categorizes the fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis (in millions):



	Fair Value Level	December 31, 2017		September 30, 2018
Cash and cash equivalents
U.S. government	1	$	—	$	569
U.S. government and agencies	2	300		422
Non-U.S. government and agencies	2	703		565
Corporate debt	2	25		889
Total marketable securities classified as cash equivalents		1,028		2,445
Cash, time deposits and money market funds		8,530		8,552
Total cash and cash equivalents		$	9,558	$	10,997

Marketable Securities
U.S. government	1	$	966	$	257
U.S. government and agencies	2	384		139
Non-U.S. government and agencies	2	660		888
Corporate debt	2	848		305
Other marketable securities	2	23		151
Total marketable securities		$	2,881	$	1,740

Cash, Cash Equivalents, and Restricted Cash

Cash, cash equivalents, and restricted cash as reported in the statement of cash flows are presented separately on our consolidated balance sheet as follows (in millions):



	December 31, 2017		September 30, 2018
Cash and cash equivalents	$	9,558	$	10,997
Restricted cash included in other assets (a)	124		147
Total cash, cash equivalents, and restricted cash	$	9,682	$	11,144

__________


(a)	Restricted cash primarily includes cash held to meet certain local governmental and regulatory reserve requirements and cash held under the terms of certain contractual agreements. Restricted cash does not include required minimum balances or cash securing debt issued through securitization transactions.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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