Cash And Marketable Securities

12 Months Ended

Dec. 31, 2019

Cash And Marketable Securities [Abstract]

Cash And Marketable Securities

Note 14. Cash and Marketable Securities

Cash, money market funds and certificates of deposits with maturities of three months or less when purchased are included in Cash and cash equivalents on the Consolidated Statements of Financial Position. As of December 31, 2019 and 2018, our marketable securities consisted primarily of common debt securities (“Debt securities”) and common equity securities (“Equity securities”). The amortized cost, fair value and gross realized and unrealized gains and losses of our short- and long-term investments in Debt and Equity securities are as follows:

			Gross Realized		Gross Realized
	Amortized		and Unrealized		and Unrealized		Fair
(In millions)	Cost		Gains		Losses		Value
Available-for-sale securities, December 31, 2019:
Debt securities	$	4	$	—	$	—	$	4
Equity securities		9		—		—		9
Total securities	$	13	$	—	$	—	$	13
Available-for-sale securities, December 31, 2018:
Debt securities	$	4	$	—	$	—	$	4
Equity securities		15		1		—		16
Total securities	$	19	$	1	$	—	$	21

We account for equity securities at fair value with adjustments to fair value recognized in Interest and net investment income in the Consolidated Statements of Operations and Comprehensive Income (Loss). For the year ended December 31, 2018, approximately $2 million of realized and unrealized gains were recognized in Interest and net investment income in the Consolidated Statements of Operations and Comprehensive Income (Loss). There were no realized or unrealized gains or losses for the year ended December 31, 2019.

We periodically review our debt securities to determine whether there has been an other than temporary decline in value. There were no impairment charges due to declines in the value of these investments for the years ended December 31, 2019 and 2018.

Additionally, we hold minority interests in several strategic investments which do not have readily determinable fair values and are recorded at cost and are remeasured upon the occurrence of observable price changes or impairments. We account for these investments at fair value with adjustments to fair value recognized within Interest and net investment income as an unrealized gain or loss in our Consolidated Statements of Operations and Comprehensive Income (Loss). The investments are included within Other Assets on the Consolidated Statements of Financial Position. At December 31, 2019, the carrying amount of these investments is $4 million.