Cash and Cash Equivalents

9 Months Ended

Sep. 30, 2020

Cash and Cash Equivalents [Abstract]

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, 2019		September 30, 2020
Cash and cash equivalents
U.S. government	1	$	—	$	1,217
U.S. government agencies	2	—		850
Non-U.S. government and agencies	2	350		1,105
Corporate debt	2	604		900
Total marketable securities classified as cash equivalents		954		4,072
Cash, time deposits and money market funds		8,113		7,006
Total cash and cash equivalents		$	9,067	$	11,078

Marketable securities
U.S. government	1	$	195	$	1,275
U.S. government agencies	2	210		235
Non-U.S. government and agencies	2	2,408		2,111
Corporate debt	2	193		313
Other marketable securities	2	290		314
Total marketable securities		$	3,296	$	4,248

Cash, Cash Equivalents, and Restricted Cash

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


	December 31, 2019		September 30, 2020
Cash and cash equivalents	$	9,067	$	11,078
Restricted cash included in other assets (a)	139		174
Cash, cash equivalents and restricted cash in assets held-for-sale	62		—
Total cash, cash equivalents, and restricted cash	$	9,268	$	11,252

__________

(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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