Notes to Financial Statements
The components of investments were as follows:
(In millions) |
|
Fair Value Level |
|
|
Cost Basis |
|
|
Unrealized Gains |
|
|
Unrealized Losses |
|
|
Recorded Basis |
|
|
Cash and Cash Equivalents |
|
Short-term Investments |
|
|
Equity Investments |
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Other Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper |
|
|
Level 2 |
|
|
$ |
2,211 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
2,211 |
|
|
$ |
1,773 |
|
|
$ |
438 |
|
|
$ |
0 |
|
Certificates of deposit |
|
|
Level 2 |
|
|
|
2,018 |
|
|
|
0 |
|
|
|
0 |
|
|
|
2,018 |
|
|
|
1,430 |
|
|
|
588 |
|
|
|
0 |
|
U.S. government securities |
|
|
Level 1 |
|
|
|
104,925 |
|
|
|
1,854 |
|
|
|
(104 |
) |
|
|
106,675 |
|
|
|
769 |
|
|
|
105,906 |
|
|
|
0 |
|
U.S. agency securities |
|
|
Level 2 |
|
|
|
988 |
|
|
|
0 |
|
|
|
0 |
|
|
|
988 |
|
|
|
698 |
|
|
|
290 |
|
|
|
0 |
|
Foreign government bonds |
|
|
Level 2 |
|
|
|
6,350 |
|
|
|
4 |
|
|
|
(8 |
) |
|
|
6,346 |
|
|
|
2,506 |
|
|
|
3,840 |
|
|
|
0 |
|
Mortgage- and asset-backed securities |
|
|
Level 2 |
|
|
|
3,554 |
|
|
|
10 |
|
|
|
(3 |
) |
|
|
3,561 |
|
|
|
0 |
|
|
|
3,561 |
|
|
|
0 |
|
Corporate notes and bonds |
|
|
Level 2 |
|
|
|
7,437 |
|
|
|
111 |
|
|
|
(7 |
) |
|
|
7,541 |
|
|
|
0 |
|
|
|
7,541 |
|
|
|
0 |
|
Corporate notes and bonds |
|
|
Level 3 |
|
|
|
15 |
|
|
|
0 |
|
|
|
0 |
|
|
|
15 |
|
|
|
0 |
|
|
|
15 |
|
|
|
0 |
|
Municipal securities |
|
|
Level 2 |
|
|
|
242 |
|
|
|
48 |
|
|
|
0 |
|
|
|
290 |
|
|
|
0 |
|
|
|
290 |
|
|
|
0 |
|
Municipal securities |
|
|
Level 3 |
|
|
|
7 |
|
|
|
0 |
|
|
|
0 |
|
|
7 |
|
|
|
0 |
|
|
|
7 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt investments |
|
|
|
|
|
$ |
127,747 |
|
|
$ |
2,027 |
|
|
$ |
(122 |
) |
|
$ |
129,652 |
|
|
$ |
7,176 |
|
|
$ |
122,476 |
|
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Net Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity investments |
|
|
Level 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
973 |
|
|
$ |
409 |
|
|
$ |
0 |
|
|
$ |
564 |
|
Equity investments |
|
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,085 |
|
|
|
0 |
|
|
|
0 |
|
|
|
2,085 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,058 |
|
|
$ |
409 |
|
|
$ |
0 |
|
|
$ |
2,649 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,771 |
|
|
$ |
3,771 |
|
|
$ |
0 |
|
|
$ |
0 |
|
Derivatives, net (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(13 |
) |
|
|
0 |
|
|
|
(13 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
136,468 |
|
|
$ |
11,356 |
|
|
$ |
122,463 |
|
|
$ |
2,649 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
Fair Value Level |
|
|
Cost Basis |
|
|
Unrealized Gains |
|
|
Unrealized Losses |
|
|
Recorded Basis |
|
|
Cash and Cash Equivalents |
|
|
Short-term Investments |
|
|
Equity
Investments |
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Other Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper |
|
|
Level 2 |
|
|
$ |
2,513 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
2,513 |
|
|
$ |
2,215 |
|
|
$ |
298 |
|
|
$ |
0 |
|
Certificates of deposit |
|
|
Level 2 |
|
|
|
2,058 |
|
|
|
0 |
|
|
|
0 |
|
|
|
2,058 |
|
|
|
1,865 |
|
|
|
193 |
|
|
|
0 |
|
U.S. government securities |
|
|
Level 1 |
|
|
|
108,120 |
|
|
|
62 |
|
|
|
(1,167 |
) |
|
|
107,015 |
|
|
|
2,280 |
|
|
|
104,735 |
|
|
|
0 |
|
U.S. agency securities |
|
|
Level 2 |
|
|
|
1,742 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,742 |
|
|
|
1,398 |
|
|
|
344 |
|
|
|
0 |
|
Foreign government bonds |
|
|
Level 1 |
|
|
|
22 |
|
|
|
0 |
|
|
|
0 |
|
|
22 |
|
|
|
0 |
|
|
|
22 |
|
|
|
0 |
|
|
Foreign government bonds |
|
|
Level 2 |
|
|
|
5,063 |
|
|
|
1 |
|
|
|
(10 |
) |
|
|
5,054 |
|
|
|
0 |
|
|
|
5,054 |
|
|
|
0 |
|
Mortgage- and asset-backed securities |
|
|
Level 2 |
|
|
|
3,864 |
|
|
|
4 |
|
|
|
(13 |
) |
|
|
3,855 |
|
|
|
0 |
|
|
|
3,855 |
|
|
|
0 |
|
Corporate notes and bonds |
|
|
Level 2 |
|
|
|
6,929 |
|
|
|
21 |
|
|
|
(56 |
) |
|
|
6,894 |
|
|
|
0 |
|
|
|
6,894 |
|
|
|
0 |
|
Corporate notes and bonds |
|
|
Level 3 |
|
|
|
15 |
|
|
|
0 |
|
|
|
0 |
|
|
|
15 |
|
|
|
0 |
|
|
|
15 |
|
|
|
0 |
|
Municipal securities |
|
|
Level 2 |
|
|
|
271 |
|
|
|
37 |
|
|
|
(1 |
) |
|
|
307 |
|
|
|
0 |
|
|
|
307 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt investments |
|
|
|
|
|
$ |
130,597 |
|
|
$ |
125 |
|
|
$ |
(1,247 |
) |
|
$ |
129,475 |
|
|
$ |
7,758 |
|
|
$ |
121,717 |
|
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity investments |
|
|
Level 1 |
|
|
|
|
|
|
|
|
|
|
$ |
533 |
|
|
$ |
246 |
|
|
$ |
0 |
|
|
$ |
287 |
|
||||
Equity investments |
|
|
Level 3 |
|
|
|
|
|
|
|
|
|
|
|
|
18 |
|
|
|
0 |
|
|
|
0 |
|
|
|
18 |
|
|||
Equity investments |
|
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,558 |
|
|
|
0 |
|
|
|
1 |
|
|
|
1,557 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,109 |
|
|
$ |
246 |
|
|
$ |
1 |
|
|
$ |
1,862 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,942 |
|
|
$ |
3,942 |
|
|
$ |
0 |
|
|
$ |
0 |
|
Derivatives, net (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
104 |
|
|
|
0 |
|
|
|
104 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
$ |
135,630 |
|
|
$ |
11,946 |
|
|
$ |
121,822 |
|
|
$ |
1,862 |
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Refer to Note 5 – Derivatives for further information on the fair value of our derivative instruments. |