Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Summary of assets and liabilities measured at fair value

The following table summarizes the types of assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy (in millions):



	March 31, 2019								December 31, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Available-for-sale debt securities:
U.S. treasury securities	$	4,782	$	—	$	—	$	4,782	$	3,969	$	—	$	—	$	3,969
Certificates of deposit	—		4,211		—		4,211		—		4,361		—		4,361
U.S. government agencies securities	—		1,444		—		1,444		—		938		—		938
Municipal debt securities	—		25		—		25		—		—		—		—
Non-U.S. government securities	—		452		—		452		—		305		—		305
Corporate debt securities	—		12,565		—		12,565		—		13,067		—		13,067
Residential mortgage and asset-backed securities	—		1,036		—		1,036		—		1,524		—		1,524
Equity securities:
Money market funds	3,778		—		—		3,778		5,305		—		—		5,305
Publicly traded equity securities	1,099		18		—		1,117		881		—		—		881
Deferred compensation plan	150				—		150		124		—		—		124
Foreign currency derivative contracts	—		77		—		77		—		78		—		78
Total	$	9,809	$	19,828	$	—	$	29,637	$	10,279	$	20,273	$	—	$	30,552
Liabilities:
Deferred compensation plan	$	150	$	—	$	—	$	150	$	124	$	—	$	—	$	124
Foreign currency derivative contracts	—		2		—		2		—		1		—		1
Total	$	150	$	2	$	—	$	152	$	124	$	1	$	—	$	125

Summary of Classification of Equity Securities

The following table summarizes the classification of our equity securities in our Condensed Consolidated Balance Sheets (in millions):



	March 31, 2019		December 31, 2018
Cash and cash equivalents	$	3,778	$	5,305
Prepaid and other current assets	1,105		863
Other long-term assets	162		142
Total	$	5,045	$	6,310