(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, 2021

Changes in Fair Value Recorded in Other Comprehensive Income

Commercial paper

Level 2

$

4,316

$

0

$

0

$

4,316

$

1,331

$

2,985

$

0

Certificates of deposit

Level 2

3,615

0

0

3,615

2,920

695

0

U.S. government securities

Level 1

90,664

3,832

(111

)

94,385

1,500

92,885

0

U.S. agency securities

Level 2

807

2

0

809

0

809

0

Foreign government bonds

Level 2

6,213

9

(2

)

6,220

225

5,995

0

Mortgage- and asset-backed securities

Level 2

3,442

22

(6

)

3,458

0

3,458

0

Corporate notes and bonds

Level 2

8,443

249

(9

)

8,683

0

8,683

0

Corporate notes and bonds

Level 3

63

0

0

63

0

63

0

Municipal securities

Level 2

308

63

0

371

0

371

0

Municipal securities

Level 3

95

0

(7

)

88

0

88

0

Total debt investments

$

117,966

$

4,177

$

(135

)

$

122,008

$

5,976

$

116,032

$

0

Changes in Fair Value Recorded in Net Income

Equity investments

Level 1

$

1,582

$

976

$

0

$

606

Equity investments

Other

5,378

0

0

5,378

Total equity investments

$

6,960

$

976

$

0

$

5,984

Cash

$

7,272

$

7,272

$

0

$

0

Derivatives, net ^(a)

78

0

78

0

Total

$

136,318

$

14,224

$

116,110

$

5,984

(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.