(In millions)

Fair Value
Level

Adjusted

Cost Basis

Unrealized

Gains

Unrealized

Losses

Recorded

Basis

Cash

and Cash

Equivalents

Short-term

Investments

Equity

Investments

December 31, 2020

Changes in Fair Value Recorded in Other Comprehensive Income

Commercial paper

Level 2

$

6,618

$

0

$

0

$

6,618

$

4,638

$

1,980

$

0

Certificates of deposit

Level 2

2,770

0

0

2,770

1,763

1,007

0

U.S. government securities

Level 1

88,151

5,580

(12

)

93,719

1,151

92,568

0

U.S. agency securities

Level 2

1,772

3

0

1,775

418

1,357

0

Foreign government bonds

Level 2

7,196

15

(1

)

7,210

0

7,210

0

Mortgage- and asset-backed securities

Level 2

4,537

38

(4

)

4,571

0

4,571

0

Corporate notes and bonds

Level 2

8,010

353

(1

)

8,362

0

8,362

0

Corporate notes and bonds

Level 3

62

0

0

62

0

62

0

Municipal securities

Level 2

291

62

(1

)

352

0

352

0

Municipal securities

Level 3

95

0

(7

)

88

0

88

0

Total debt investments

$

119,502

$

6,051

$

(26

)

$

125,527

$

7,970

$

117,557

$

0

Changes in Fair Value Recorded in Net Income

Equity investments

Level 1

$

1,655

$

897

$

0

$

758

Equity investments

Other

3,036

0

0

3,036

Total equity investments

$

4,691

$

897

$

0

$

3,794

Cash

$

5,565

$

5,565

$

0

$

0

Derivatives, net ^(a)

(21

)

0

(21

)

0

Total

$

135,762

$

14,432

$

117,536

$

3,794

(In millions)

Fair Value

Level

Adjusted

Cost Basis

Unrealized

Gains

Unrealized

Losses

Recorded

Basis

Cash

and Cash

Equivalents

Short-term

Investments

Equity

Investments

June 30, 2020

Changes in Fair Value Recorded in Other Comprehensive Income

Commercial paper

Level 2

$

4,687

$

1

$

0

$

4,688

$

1,618

$

3,070

$

0

Certificates of deposit

Level 2

2,898

0

0

2,898

1,646

1,252

0

U.S. government securities

Level 1

92,067

6,495

(1

)

98,561

3,168

95,393

0

U.S. agency securities

Level 2

2,439

2

0

2,441

449

1,992

0

Foreign government bonds

Level 2

6,982

6

(3

)

6,985

1

6,984

0

Mortgage- and asset-backed securities

Level 2

4,865

41

(6

)

4,900

0

4,900

0

Corporate notes and bonds

Level 2

8,500

327

(17

)

8,810

0

8,810

0

Corporate notes and bonds

Level 3

58

0

0

58

0

58

0

Municipal securities

Level 2

313

57

(4

)

366

0

366

0

Municipal securities

Level 3

91

0

0

91

0

91

0

Total debt investments

$

122,900

$

6,929

$

(31

)

$

129,798

$

6,882

$

122,916

$

0

Changes in Fair Value Recorded in Net Income

Equity investments

Level 1

$

1,198

$

784

$

0

$

414

Equity investments

Other

2,551

0

0

2,551

Total equity investments

$

3,749

$

784

$

0

$

2,965

Cash

$

5,910

$

5,910

$

0

$

0

Derivatives, net ^(a)

35

0

35

0

Total

$

139,492

$

13,576

$

122,951

$

2,965

(a)

Refer to Note 5 – Derivatives for further information on the fair value of our derivative instruments.