Notes to Financial Statements
The components of investments were as follows:
(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. |