(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, 2022

Changes in Fair Value Recorded in Other Comprehensive Income

Commercial paper

Level 2

$

6,423

$

0

$

0

$

6,423

$

3,307

$

3,116

$

0

Certificates of deposit

Level 2

2,694

0

0

2,694

2,250

444

0

U.S. government securities

Level 1

67,941

0

(3,963

)

63,978

1,029

62,949

0

U.S. agency securities

Level 2

5,525

0

(6

)

5,519

674

4,845

0

Foreign government bonds

Level 2

491

1

(27

)

465

0

465

0

Mortgage- and asset-backed securities

Level 2

883

1

(43

)

841

0

841

0

Corporate notes and bonds

Level 2

11,310

8

(676

)

10,642

0

10,642

0

Corporate notes and bonds

Level 3

88

1

0

89

0

89

0

Municipal securities

Level 2

370

8

(17

)

361

0

361

0

Municipal securities

Level 3

104

0

(7

)

97

0

97

0

Total debt investments

$

95,829

$

19

$

(4,739

)

$

91,109

$

7,260

$

83,849

$

0

Changes in Fair Value Recorded in Net Income

Equity investments

Level 1

$

1,521

$

1,082

$

0

$

439

Equity investments

Other

6,658

0

0

6,658

Total equity investments

$

8,179

$

1,082

$

0

$

7,097

Cash

$

7,304

$

7,304

$

0

$

0

Derivatives, net ^(a)

13

0

13

0

Total

$

106,605

$

15,646

$

83,862

$

7,097

(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, 2022

Changes in Fair Value Recorded in Other Comprehensive Income

Commercial paper

Level 2

$

2,500

$

0

$

0

$

2,500

$

2,498

$

2

$

0

Certificates of deposit

Level 2

2,071

0

0

2,071

2,032

39

0

U.S. government securities

Level 1

79,696

29

(2,178

)

77,547

9

77,538

0

U.S. agency securities

Level 2

419

0

(9

)

410

0

410

0

Foreign government bonds

Level 2

506

0

(24

)

482

0

482

0

Mortgage- and asset-backed securities

Level 2

727

1

(30

)

698

0

698

0

Corporate notes and bonds

Level 2

11,661

4

(554

)

11,111

0

11,111

0

Corporate notes and bonds

Level 3

67

0

0

67

0

67

0

Municipal securities

Level 2

368

19

(13

)

374

0

374

0

Municipal securities

Level 3

103

0

(6

)

97

0

97

0

Total debt investments

$

98,118

$

53

$

(2,814

)

$

95,357

$

4,539

$

90,818

$

0

Changes in Fair Value Recorded in Net Income

Equity investments

Level 1

$

1,590

$

1,134

$

0

$

456

Equity investments

Other

6,435

0

0

6,435

Total equity investments

$

8,025

$

1,134

$

0

$

6,891

Cash

$

8,258

$

8,258

$

0

$

0

Derivatives, net ^(a)

8

0

8

0

Total

$

111,648

$

13,931

$

90,826

$

6,891

(a)

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