Valuation of debt and equity investments and certain liabilities (Tables)

3 Months Ended

Mar. 31, 2024

Details of our investments are as follows:


	March 31, 2024						December 31, 2023
	Cash and Cash Equivalents		Short-Term Investments		Long-Term Investments		Cash and Cash Equivalents		Short-Term Investments		Long-Term Investments
Measured at fair value:
Money market funds	$	1,473	$	—	$	—	$	1,068	$	—	$	—
Corporate obligations	130		2,322		—		349		1,605		—
U.S. government and agency securities	174		5,292		—		696		3,808		—
Non-U.S. government and agency securities	—		296		—		50		198		—
Mutual funds	—		—		11		—		—		12
Total	1,777		7,910		11		2,163		5,611		12

Other measurement basis:
Equity-method investments	—		—		13		—		—		17
Nonmarketable investments	—		—		4		—		—		5
Total	—		—		17		—		—		22

Cash on hand	706		—		—		801		—		—
Total	$	2,483	$	7,910	$	28	$	2,964	$	5,611	$	34

Assets and Liabilities Accounted for at Fair Value

The following are our assets and liabilities that were accounted for at fair value on a recurring basis. These tables do not include cash on hand, assets held by our postretirement plans, or assets and liabilities that are measured at historical cost or any basis other than fair value.


	March 31, 2024						December 31, 2023
	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:
Money market funds	$	1,473	$	—	$	1,473	$	1,068	$	—	$	1,068
Corporate obligations	—		2,452		2,452		—		1,954		1,954
U.S. government and agency securities	3,592		1,874		5,466		3,618		886		4,504
Non-U.S. government and agency securities	—		296		296		—		248		248
Mutual funds	11		—		11		12		—		12
Total assets	$	5,076	$	4,622	$	9,698	$	4,698	$	3,088	$	7,786

Liabilities:
Deferred compensation	$	395	$	—	$	395	$	393	$	—	$	393
Total liabilities	$	395	$	—	$	395	$	393	$	—	$	393

Aggregate Maturities of Available-for-sale Debt Investments

The following table presents the aggregate maturities of our available-for-sale debt investments as of March 31, 2024:


	Fair Value
One year or less	$	7,585
One to two years	629