Marketable and Other Securities

3 Months Ended

Mar. 31, 2023

Marketable Securities [Abstract]

Marketable and Other Securities

Marketable and Other Securities

The following table summarizes the fair value of cash equivalents and marketable debt securities, which approximates cost:

	Fair Value Level	March 31, 2023		December 31, 2022
Cash and cash equivalents
Cash and time deposits		$	9,521	$	8,921
Available-for-sale debt securities
U.S. government and agencies	2	126		1,012
Corporate debt	2	1,712		2,778
Sovereign debt	2	823		1,828
Total available-for-sale debt securities – cash equivalents		2,661		5,618
Money market funds	1	6,045		4,613
Total cash and cash equivalents(a)		$	18,227	$	19,153
Marketable debt securities
U.S. government and agencies	2	$	4,174	$	4,357
Corporate debt	2	4,375		5,147
Mortgage and asset-backed	2	552		538
Sovereign debt	2	880		2,108
Total available-for-sale debt securities – marketable securities(b)		$	9,981	$	12,150
Restricted cash
Cash and cash equivalents		$	335	$	341
Money market funds	1	2,579		2,455
Total restricted cash		$	2,914	$	2,796
Available-for-sale debt securities included above with contractual maturities(c)
Due in one year or less		$	6,079
Due between one and five years		5,901
Total available-for-sale debt securities with contractual maturities		$	11,979

__________

(a)Includes $1.9 billion and $1.5 billion in Cruise at March 31, 2023 and December 31, 2022.

(b)Includes $612 million and $1.4 billion in Cruise at March 31, 2023 and December 31, 2022.

(c)Excludes mortgage and asset-backed securities of $552 million at March 31, 2023 as these securities are not due at a single maturity date.

Proceeds from the sale of available-for-sale debt securities sold prior to maturity were $380 million and $464 million in the three months ended March 31, 2023 and 2022. Net unrealized gains and losses on available-for-sale debt securities were insignificant in the three months ended March 31, 2023 and 2022. Cumulative unrealized losses on available-for-sale debt securities were $275 million and $344 million at March 31, 2023 and December 31, 2022.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the total shown in the condensed consolidated statement of cash flows:

	March 31, 2023
Cash and cash equivalents	$	18,227
Restricted cash included in Other current assets	2,467
Restricted cash included in Other assets	447
Total	$	21,141