XML 41 R15.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Short-term Investments
3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Short-term Investments Short-Term Investments
Investments Components
The components of investments were as follows:
March 31, 2024
(Millions of dollars)Fair Value LevelAmortized CostUnrealized GainsUnrealized LossesFair ValueCash and Cash EquivalentsShort-term Investments
Available-for-sale debt securities
Commercial paperLevel 2$2,774 $— $(1)$2,773 $210 $2,563 
Certificates of deposit and time depositsLevel 21,256 — (1)1,255 224 1,031 
U.S. government securitiesLevel 1637 — (1)636 — 636 
Corporate notes and bondsLevel 2169 — — 169 — 169 
Total available-for-sale debt securities$4,836 $— $(3)$4,833 $434 $4,399 
Cash2,741 2,741 — 
Total$7,574 $3,175 $4,399 
December 31, 2023
(Millions of dollars)Fair Value LevelAmortized CostUnrealized GainsUnrealized LossesFair ValueCash and Cash EquivalentsShort-term Investments
Available-for-sale debt securities
Commercial paperLevel 2$3,154 $$— $3,156 $281 $2,875 
Certificates of deposit and time depositsLevel 21,836 — 1,837 800 1,037 
U.S. government securitiesLevel 1785 — (1)784 — 784 
Corporate notes and bondsLevel 285 — — 85 — 85 
Total available-for-sale debt securities$5,860 $$(1)$5,862 $1,081 $4,781 
Cash4,362 4,362 — 
Total$10,224 $5,443 $4,781 
Our investment policy includes concentration limits and credit rating requirements which limit our investments to high quality, short term and highly liquid securities.
Realized gains/losses were not material. All of our available-for-sale debt securities held as of March 31, 2024 mature within one year or less or are readily available for use.