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Investments
 6 Months Ended
Jun. 30, 2022
Investments [Abstract]  
Investments
Our investments were as follows:
(in millions)June 30, 2022December 31, 2021
Short-term investments:
Equity investment security$26 $26 
Available-for-sale investment securities448 310 
Held-to-maturity investment securities38 37 
Time deposits40 554 
Total short-term investments$552 $927 
Long-term investments:
Other investments$68 $66 
Restricted time deposits(1)
375 397 
Total long-term investments$443 $463 
(1)See Note 6.
Equity Investment Security
Our equity investment security is a U.S. dollar denominated investment in a fixed income mutual fund. Realized and unrealized gains and losses were immaterial for the three and six months ended June 30, 2022 and 2021.
Available-for-Sale Investment Securities
Our available-for-sale investment securities consist of highly rated U.S. dollar denominated investments in certificates of deposit and commercial paper maturing within one year. As of June 30, 2022, the amortized cost and fair value of the available-for-sale investments were $448 million. As of December 31, 2021, the amortized cost and fair value of the available-for-sale investments were $310 million. Unrealized losses were immaterial as of June 30, 2022 and December 31, 2021. There were no realized gains or losses related to the available-for-sale investment securities during the six months ended June 30, 2022 and 2021. There were no sales of available-for sale investment securities during the six months ended June 30, 2022 and 2021.
Held-to-Maturity Investment Securities
Our held-to-maturity investment securities consist of Indian rupee denominated investments in commercial paper and international corporate bonds. The basis for the measurement of fair value of the held-to-maturity investment securities is Level 2 in the fair value hierarchy.
The amortized cost and fair value of held-to-maturity investment securities were as follows:
June 30, 2022December 31, 2021
(in millions)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Short-term investments, maturing within one year:
Corporate debt securities$19 $19 $17 $17 
Commercial paper19 19 20 20 
Total held-to-maturity investments$38 $38 $37 $37 
As of June 30, 2022, $12 million of corporate debt securities and $16 million of commercial paper were in an unrealized loss position. The total unrealized loss was less than $1 million and none of the securities had been in an unrealized loss position for longer than 12 months. As of December 31, 2021, $17 million of corporate debt securities and $10 million of commercial paper were in an unrealized loss position. The total unrealized loss was less than $1 million and none of the securities had been in an unrealized loss position for longer than 12 months.
The securities in our portfolio are highly rated and short-term in nature. As of June 30, 2022, the corporate debt securities were rated AA+ or better and the commercial paper securities were rated A-1+ by CRISIL, an Indian subsidiary of S&P Global.
Other Investments
As of June 30, 2022 and December 31, 2021, we had equity method investments of $66 million and $63 million, respectively, primarily related to an investment in the technology sector. As of June 30, 2022 and December 31, 2021, we had equity securities without a readily determinable fair value of $2 million and $3 million, respectively.