XML 100 R12.htm IDEA: XBRL DOCUMENT v3.19.3
Available-for-Sale Debt Securities
 9 Months Ended
Sep. 30, 2019
Debt Securities, Available-for-sale [Abstract]  
Available-for-Sale Debt Securities
AVAILABLE-FOR-SALE DEBT SECURITIES
The following table summarizes our available-for-sale debt securities (in millions):
 
 
September 30, 2019
 
December 31, 2018
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value 
U.S. treasury securities
 
$
2,860

 
$
1

 
$
(1
)
 
$
2,860

 
$
3,978

 
$
—

 
$
(9
)
 
$
3,969

Certificates of deposit
 
4,152

 
—

 
—

 
4,152

 
4,361

 
—

 
—

 
4,361

U.S. government agencies securities
 
1,145

 
—

 
—

 
1,145

 
943

 
—

 
(5
)
 
938

Non-U.S. government securities
 
192

 
—

 
—

 
192

 
307

 
—

 
(2
)
 
305

Corporate debt securities
 
10,472

 
3

 
(1
)
 
10,474

 
13,095

 
1

 
(29
)
 
13,067

Residential mortgage and asset-backed securities
 
231

 
—

 
(1
)
 
230

 
1,532

 
—

 
(8
)
 
1,524

Total
 
$
19,052

 
$
4

 
$
(3
)
 
$
19,053

 
$
24,216

 
$
1

 
$
(53
)
 
$
24,164


The following table summarizes the classification of our available-for-sale debt securities in our Condensed Consolidated Balance Sheets (in millions):
 
 
September 30, 2019
 
December 31, 2018
Cash and cash equivalents
 
$
3,476

 
$
10,592

Short-term marketable securities
 
13,382

 
12,149

Long-term marketable securities
 
2,195

 
1,423

Total
 
$
19,053

 
$
24,164


The following table summarizes our available-for-sale debt securities by contractual maturity (in millions):
 
 
September 30, 2019
 
 
Amortized Cost
 
Fair Value
Within one year
 
$
16,858

 
$
16,859

After one year through five years
 
2,166

 
2,166

After five years through ten years
 
14

 
14

After ten years
 
14

 
14

Total
 
$
19,052

 
$
19,053


The following table summarizes our available-for-sale debt securities that were in a continuous unrealized loss position, but were not deemed to be other-than-temporarily impaired (in millions):
 
 
Less Than 12 Months
 
12 Months or Greater
 
Total
 
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
(1
)
 
$
1,339

 
$
—

 
$
96

 
$
(1
)
 
$
1,435

U.S. government agencies securities
 
—

 
902

 
—

 
30

 
—

 
932

Non-U.S. government securities
 
—

 
25

 
—

 
—

 
—

 
25

Corporate debt securities
 
(1
)
 
1,541

 
—

 
297

 
(1
)
 
1,838

Residential mortgage and asset-backed securities
 
—

 
10

 
(1
)
 
171

 
(1
)
 
181

Total
 
$
(2
)
 
$
3,817

 
$
(1
)
 
$
594

 
$
(3
)
 
$
4,411

 
 
 

 
 

 
 

 
 

 
 

 
 

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasury securities
 
$
—

 
$
896

 
$
(9
)
 
$
1,383

 
$
(9
)
 
$
2,279

U.S. government agencies securities
 
—

 
30

 
(5
)
 
553

 
(5
)
 
583

Non-U.S. government securities
 
—

 
86

 
(2
)
 
192

 
(2
)
 
278

Corporate debt securities
 
(1
)
 
1,600

 
(28
)
 
4,204

 
(29
)
 
5,804

Residential mortgage and asset-backed securities
 
—

 
192

 
(8
)
 
1,186

 
(8
)
 
1,378

Total
 
$
(1
)
 
$
2,804

 
$
(52
)
 
$
7,518

 
$
(53
)
 
$
10,322


We held a total of 355 and 1,348 positions, which were in an unrealized loss position, as of September 30, 2019 and December 31, 2018, respectively.
Based on our review of these securities, we believe we had no other-than-temporary impairments as of September 30, 2019 and December 31, 2018, because we do not intend to sell these securities nor do we believe that we will be required to sell these securities before the recovery of their amortized cost basis. Gross realized gains and losses were not material for the three and nine months ended September 30, 2019 and 2018.