Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

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):

	June 30, 2020								December 31, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Available-for-sale debt securities:
U.S. treasury securities	$	2,498	$	—	$	—	$	2,498	$	2,433	$	—	$	—	$	2,433
Certificates of deposit	—		2,783		—		2,783		—		3,517		—		3,517
U.S. government agencies securities	—		101		—		101		—		1,081		—		1,081
Non-U.S. government securities	—		145		—		145		—		174		—		174
Corporate debt securities	—		8,784		—		8,784		—		9,204		—		9,204
Residential mortgage and asset-backed securities	—		624		—		624		—		91		—		91
Equity securities:
Equity investment in Galapagos	3,283		—		—		3,283		3,477		—		—		3,477
Money market funds	4,419		—		—		4,419		7,069		—		—		7,069
Other publicly traded equity securities	507		—		—		507		322		—		—		322
Deferred compensation plan	183		—		—		183		171		—		—		171
Foreign currency derivative contracts	—		21		—		21		—		37		—		37
Total	$	10,890	$	12,458	$	—	$	23,348	$	13,472	$	14,104	$	—	$	27,576
Liabilities:
Deferred compensation plan	$	183	$	—	$	—	$	183	$	171	$	—	$	—	$	171
Foreign currency derivative contracts	—		18		—		18		—		8		—		8
Total	$	183	$	18	$	—	$	201	$	171	$	8	$	—	$	179

Summary of classification of equity securities

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

	June 30, 2020		December 31, 2019
Cash and cash equivalents	$	4,419	$	7,069
Prepaid and other current assets	451		319
Other long-term assets	3,522		3,651
Total	$	8,392	$	11,039