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Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Fair Value by Major Security Type
The following table summarizes, by major security type, our cash, cash equivalents, restricted cash, and marketable securities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy (in millions):
 December 31, 2023September 30, 2024
  
Total
Estimated
Fair Value
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Total
Estimated
Fair Value
Cash$11,706 $15,401 $— $— $15,401 
Level 1 securities:
Money market funds39,160 28,793 — — 28,793 
Equity securities (1)4,658 2,864 
Level 2 securities:
Foreign government and agency securities505 302 — — 302 
U.S. government and agency securities1,699 2,309 (51)2,259 
Corporate debt securities27,805 41,001 (52)40,956 
Asset-backed securities1,646 1,018 (20)999 
Other debt securities104 64 — (1)63 
$87,283 $88,888 $$(124)$91,637 
Less: Restricted cash, cash equivalents, and marketable securities (2)(503)(3,586)
Total cash, cash equivalents, and marketable securities$86,780 $88,051 
___________________
(1)The related unrealized gain (loss) recorded in “Other income (expense), net” was $1.2 billion and $(145) million in Q3 2023 and Q3 2024, and $1.0 billion and $(1.8) billion for the nine months ended September 30, 2023 and 2024.
(2)We are required to pledge or otherwise restrict a portion of our cash, cash equivalents, and marketable debt securities primarily as collateral for real estate, amounts due to third-party sellers in certain jurisdictions, debt, standby and trade letters of credit, and licenses of digital media content. We classify cash, cash equivalents, and marketable debt securities with use restrictions of less than twelve months as “Accounts receivable, net and other” and of twelve months or longer as non-current “Other assets” on our consolidated balance sheets. See “Note 4 — Commitments and Contingencies.”
Investments Classified by Contractual Maturity Date
The following table summarizes the remaining contractual maturities of our cash equivalents and marketable debt securities as of September 30, 2024 (in millions):
Amortized
Cost
Estimated
Fair Value
Due within one year$69,997 $69,976 
Due after one year through five years2,536 2,481 
Due after five years through ten years352 345 
Due after ten years602 570 
Total$73,487 $73,372 
Consolidated Statements of Cash Flow Reconciliation - Cash and Cash Equivalents
The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows (in millions):
December 31, 2023September 30, 2024
Cash and cash equivalents$73,387 $75,091 
Restricted cash included in accounts receivable, net and other497 333 
Restricted cash included in other assets3,253 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$73,890 $78,677 
Consolidated Statements of Cash Flow Reconciliation - Restricted Cash
The following table provides a reconciliation of the amount of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets to the total of the same such amounts shown in the consolidated statements of cash flows (in millions):
December 31, 2023September 30, 2024
Cash and cash equivalents$73,387 $75,091 
Restricted cash included in accounts receivable, net and other497 333 
Restricted cash included in other assets3,253 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows$73,890 $78,677