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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of cash and short-term investments
 The following tables summarize our cash, cash equivalents and marketable securities by significant investment categories as of December 31, 2015 and 2016 (in millions):
 
As of December 31, 2015
 
Adjusted
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
Cash and
Cash
Equivalents
 
Marketable
Securities
Cash
$
7,380

 
$
0

 
$
0

 
$
7,380

 
$
7,380

 
$
0

Level 1:
 
 
 
 
 
 
 
 
 
 
 
Money market and other funds
5,623

 
0

 
0

 
5,623

 
5,623

 
0

U.S. government notes
20,922

 
27

 
(48
)
 
20,901

 
258

 
20,643

Marketable equity securities
692

 
155

 
0

 
847

 
0

 
847

 
27,237

 
182

 
(48
)
 
27,371

 
5,881

 
21,490

Level 2:
 
 
 
 
 
 
 
 
 
 
 
Time deposits(1)
3,223

 
0

 
0

 
3,223

 
2,012

 
1,211

Money market and other funds(2)
1,140

 
0

 
0

 
1,140

 
1,140

 
0

Fixed-income bond funds(3)
219

 
0

 
0

 
219

 
0

 
219

U.S. government agencies
1,367

 
2

 
(3
)
 
1,366

 
0

 
1,366

Foreign government bonds
2,242

 
14

 
(23
)
 
2,233

 
0

 
2,233

Municipal securities
3,812

 
47

 
(4
)
 
3,855

 
0

 
3,855

Corporate debt securities
13,809

 
53

 
(278
)
 
13,584

 
136

 
13,448

Agency mortgage-backed securities
9,680

 
48

 
(57
)
 
9,671

 
0

 
9,671

Asset-backed securities
3,032

 
0

 
(8
)
 
3,024

 
0

 
3,024

 
38,524

 
164

 
(373
)
 
38,315

 
3,288

 
35,027

Total
$
73,141

 
$
346

 
$
(421
)
 
$
73,066

 
$
16,549

 
$
56,517

 
As of December 31, 2016
 
Adjusted
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
Cash and
Cash
Equivalents
 
Marketable
Securities
Cash
$
7,078

 
$
0

 
$
0

 
$
7,078

 
$
7,078

 
$
0

Level 1:
 
 
 
 
 
 
 
 
 
 
 
Money market and other funds
4,783

 
0

 
0

 
4,783

 
4,783

 
0

U.S. government notes
38,454

 
46

 
(215
)
 
38,285

 
613

 
37,672

Marketable equity securities
160

 
133

 
0

 
293

 
0

 
293

 
43,397

 
179

 
(215
)
 
43,361

 
5,396

 
37,965

Level 2:
 
 
 
 
 
 
 
 
 
 
 
Time deposits(1)
142

 
0

 
0

 
142

 
140

 
2

Mutual funds(4)
204

 
7

 
0

 
211

 
0

 
211

U.S. government agencies
1,826

 
0

 
(11
)
 
1,815

 
300

 
1,515

Foreign government bonds
2,345

 
18

 
(7
)
 
2,356

 
0

 
2,356

Municipal securities
4,757

 
15

 
(65
)
 
4,707

 
2

 
4,705

Corporate debt securities
12,993

 
114

 
(116
)
 
12,991

 
2

 
12,989

Agency mortgage-backed securities
12,006

 
26

 
(216
)
 
11,816

 
0

 
11,816

Asset-backed securities
1,855

 
2

 
(1
)
 
1,856

 
0

 
1,856

 
36,128

 
182

 
(416
)
 
35,894

 
444

 
35,450

Total
$
86,603

 
$
361

 
$
(631
)
 
$
86,333

 
$
12,918

 
$
73,415

(1) 
The majority of our time deposits are foreign deposits.
(2) 
The balance related to cash collateral received in connection with our securities lending program, which was invested in reverse repurchase agreements maturing within three months. See section titled "Securities Lending Program" below for further discussion of this program.
(3) 
Fixed-income bond funds consist of mutual funds that primarily invest in corporate and government bonds.
(4) 
The fair value option was elected for mutual funds with gains (losses) recognized in other income (expense), net.
Investments by maturity date
The following table summarizes the estimated fair value of our investments in marketable debt securities, accounted for as available-for-sale securities and classified by the contractual maturity date of the securities (in millions):
 
As of December 31, 2016
Due in 1 year
$
13,066

Due in 1 year through 5 years
38,762

Due in 5 years through 10 years
8,382

Due after 10 years
12,701

Total
$
72,911
Schedule of unrealized loss on investments
The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2015 and 2016, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions):
 
 
As of December 31, 2015
 
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
 
Fair Value
 
Unrealized
Loss
 
Fair Value
 
Unrealized
Loss
 
Fair Value
 
Unrealized
Loss
U.S. government notes
 
$
13,757

 
$
(48
)
 
$
0

 
$
0

 
$
13,757

 
$
(48
)
U.S. government agencies
 
864

 
(3
)
 
0

 
0

 
864

 
(3
)
Foreign government bonds
 
885

 
(18
)
 
36

 
(5
)
 
921

 
(23
)
Municipal securities
 
1,116

 
(3
)
 
41

 
(1
)
 
1,157

 
(4
)
Corporate debt securities
 
9,192

 
(202
)
 
784

 
(76
)
 
9,976

 
(278
)
Agency mortgage-backed securities
 
5,783

 
(34
)
 
721

 
(23
)
 
6,504

 
(57
)
Asset-backed securities
 
2,508

 
(7
)
 
386

 
(1
)
 
2,894

 
(8
)
Total
 
$
34,105

 
$
(315
)
 
$
1,968

 
$
(106
)
 
$
36,073

 
$
(421
)
 
 
As of December 31, 2016
 
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
 
Fair Value
 
Unrealized
Loss
 
Fair Value
 
Unrealized
Loss
 
Fair Value
 
Unrealized
Loss
U.S. government notes
 
$
26,411

 
$
(215
)
 
$
0

 
$
0

 
$
26,411

 
$
(215
)
U.S. government agencies
 
1,014

 
(11
)
 
0

 
0

 
1,014

 
(11
)
Foreign government bonds
 
956

 
(7
)
 
0

 
0

 
956

 
(7
)
Municipal securities
 
3,461

 
(63
)
 
46

 
(2
)
 
3,507

 
(65
)
Corporate debt securities
 
6,184

 
(111
)
 
166

 
(5
)
 
6,350

 
(116
)
Agency mortgage-backed securities
 
10,184

 
(206
)
 
259

 
(10
)
 
10,443

 
(216
)
Asset-backed securities
 
391

 
(1
)
 
0

 
0

 
391

 
(1
)
Total
 
$
48,601

 
$
(614
)
 
$
471

 
$
(17
)
 
$
49,072

 
$
(631
)
Schedule of repurchase agreements
Our securities lending transactions were accounted for as secured borrowings with significant investment categories as follows (in millions):
 
As of December 31, 2015
 
Remaining Contractual Maturity of the Agreements
Securities Lending Transactions
Overnight and Continuous
 
Up to 30 days
 
30 - 90 Days
 
Greater Than 90 Days
 
Total
U.S. government notes
$
1,322

 
$
31

 
$
0

 
$
306

 
$
1,659

U.S. government agencies
504

 
77

 
0

 
0

 
581

Corporate debt securities
188

 
0

 
0

 
0

 
188

Total
$
2,014

 
$
108

 
$
0

 
$
306

 
$
2,428

Gross amount of recognized liabilities for securities lending in offsetting disclosure
 
$
2,428

Amounts related to agreements not included in securities lending in offsetting disclosure
 
$
0

As of December 31, 2016, we ended our securities lending program resulting in no cash collateral outstanding.
Schedule of derivative instruments
The fair values of our outstanding derivative instruments were as follows (in millions):
 
 
 
 
As of December 31, 2015
  
 
Balance Sheet Location
 
Fair Value of
Derivatives
Designated as
Hedging Instruments
 
Fair Value of
Derivatives Not
Designated as
Hedging Instruments
 
Total Fair
Value
Derivative Assets:
 
 
 
 
 
 
 
 
Level 2:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
Prepaid revenue share, expenses and other assets, current and non-current
 
$
626

 
$
2

 
$
628

Total
 
 
 
$
626

 
$
2

 
$
628

Derivative Liabilities:
 
 
 
 
 
 
 
 
Level 2:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
Accrued expenses and other liabilities, current and non-current
 
$
1

 
$
13

 
$
14

Interest rate contracts
 
Accrued expenses and other liabilities, current and non-current
 
2

 
0

 
2

Total
 
 
 
$
3

 
$
13

 
$
16

 
 
 
 
As of December 31, 2016
  
 
Balance Sheet Location
 
Fair Value of
Derivatives
Designated as
Hedging Instruments
 
Fair Value of
Derivatives Not
Designated as
Hedging Instruments
 
Total Fair
Value
Derivative Assets:
 
 
 
 
 
 
 
 
Level 2:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
Prepaid revenue share, expenses and other assets, current and non-current
 
$
539

 
$
57

 
$
596

Total
 
 
 
$
539

 
$
57

 
$
596

Derivative Liabilities:
 
 
 
 
 
 
 
 
Level 2:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
Accrued expenses and other liabilities, current and non-current
 
$
4

 
$
9

 
$
13

Interest rate contracts
 
Accrued expenses and other liabilities, current and non-current
 
0

 
0

 
0

Total
 
 
 
$
4

 
$
9

 
$
13
Schedule of gain (loss) on derivative instruments
The effect of derivative instruments in cash flow hedging relationships on income and other comprehensive income (OCI) is summarized below (in millions):
 
 
Gains (Losses) Recognized in OCI
on Derivatives Before Tax Effect (Effective Portion)
 
 
Year Ended December 31,
Derivatives in Cash Flow Hedging Relationship
 
2014
 
2015
 
2016
Foreign exchange contracts
 
$
929

 
$
964

 
$
773

Interest rate contracts
 
(31
)
 
0

 
0

Total
 
$
898

 
$
964

 
$
773

 
 
 
Gains (Losses) Reclassified from AOCI into Income (Effective Portion)
 
 
 
 
Year Ended December 31,
Derivatives in Cash Flow Hedging Relationship
 
Location
 
2014
 
2015
 
2016
Foreign exchange contracts
 
Revenues
 
$
171

 
$
1,399

 
$
539

Interest rate contracts
 
Other income (expense), net
 
4

 
5

 
5

Total
 
 
 
$
175

 
$
1,404

 
$
544

 
 
Gains (Losses) Recognized in Income on Derivatives (Amount
Excluded from  Effectiveness Testing and Ineffective Portion) (1)
 
 
 
 
Year Ended December 31,
Derivatives in Cash Flow Hedging Relationship
 
Location
 
2014
 
2015
 
2016
Foreign exchange contracts
 
Other income (expense), net
 
$
(279
)
 
$
(297
)
 
$
(381
)
Interest rate contracts
 
Other income (expense), net
 
4

 
0

 
0

Total
 
 
 
$
(275
)
 
$
(297
)
 
$
(381
)
(1) 
Gains (losses) related to the ineffective portion of the hedges were not material in all periods presented.
The effect of derivative instruments in fair value hedging relationships on income is summarized below (in millions):
 
 
Gains (Losses) Recognized in Income on Derivatives(2)
 
 
 
 
Year Ended December 31,
Derivatives in Fair Value Hedging Relationship
 
Location
 
2014
 
2015
 
2016
Foreign Exchange Hedges:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
Other income (expense), net
 
$
115

 
$
170

 
$
145

Hedged item
 
Other income (expense), net
 
(123
)
 
(176
)
 
(139
)
Total
 
 
 
$
(8
)
 
$
(6
)
 
$
6

Interest Rate Hedges:
 
 
 
 
 
 
 
 
Interest rate contracts
 
Other income (expense), net
 
$
0

 
$
(2
)
 
$
(3
)
Hedged item
 
Other income (expense), net
 
0

 
2

 
3

Total
 
 
 
$
0

 
$
0

 
$
0

(2) 
Amounts excluded from effectiveness testing and the ineffective portion of the fair value hedging relationships were not material in all periods presented
The effect of derivative instruments not designated as hedging instruments on income is summarized below (in millions):
 
 
Gains (Losses) Recognized in Income on Derivatives
 
 
 
 
Year Ended December 31,
Derivatives Not Designated As Hedging Instruments
 
Location
 
2014
 
2015
 
2016
Foreign exchange contracts
 
Other income (expense), net, and net income from discontinued operations
 
$
237

 
$
198

 
$
130

Interest rate contracts
 
Other income (expense), net
 
2

 
1

 
(11
)
Total
 
 
 
$
239

 
$
199

 
$
119
Offsetting assets
As of December 31, 2015 and 2016, information related to these offsetting arrangements was as follows (in millions):
Offsetting of Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Consolidated Balance Sheets, but Have Legal Rights to Offset
 
 
Description
Gross Amounts of Recognized Assets
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
 Cash Collateral Received
 
Non-Cash Collateral Received
 
Net Assets Exposed
Derivatives
$
628

 
$
0

 
$
628

 
$
(13
)
(1) 
$
(189
)
 
$
(214
)
 
$
212

Reverse repurchase agreements
1,590

 
0

 
1,590

(2) 
0

 
0

 
(1,590
)
 
0

Total
$
2,218

 
$
0

 
$
2,218

 
$
(13
)
 
$
(189
)
 
$
(1,804
)
 
$
212

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2016
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Consolidated Balance Sheets, but Have Legal Rights to Offset
 
 
Description
Gross Amounts of Recognized Assets
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral Received
 
Non-Cash Collateral Received
 
Net Assets Exposed
Derivatives
$
596

 
$
0

 
$
596

 
$
(11
)
(1) 
$
(337
)
 
$
(73
)
 
$
175

(1) 
The balances as of December 31, 2015 and 2016 were related to derivative liabilities which are allowed to be net settled against derivative assets in accordance with our master netting agreements.
(2) 
The balances as of December 31, 2015 included $1,140 million recorded in cash and cash equivalents and $450 million recorded in receivable under reverse repurchase agreements.
Offsetting liabilities
Offsetting of Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Consolidated Balance Sheets, but Have Legal Rights to Offset
 
 
Description
Gross Amounts of Recognized Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
 Cash Collateral Pledged
 
Non-Cash Collateral Pledged
 
Net Liabilities
Derivatives
$
16

 
$
0

 
$
16

 
$
(13
)
(3) 
$
(3
)
 
$
0

 
$
0

Securities lending agreements
2,428

 
0

 
2,428

 
0

 
0

 
(2,401
)
 
27

Total
$
2,444

 
$
0

 
$
2,444

 
$
(13
)
 
$
(3
)
 
$
(2,401
)
 
$
27

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2016
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Consolidated Balance Sheets, but Have Legal Rights to Offset
 
Description
Gross Amounts of Recognized Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
 Cash Collateral Pledged
 
Non-Cash Collateral Pledged
 
Net Liabilities
Derivatives
$
13

 
$
0

 
$
13

 
$
(11
)
(3) 
$
0

 
$
0

 
$
2

(3) 
The balances as of December 31, 2015 and 2016 were related to derivative assets which are allowed to be net settled against derivative liabilities in accordance with our master netting agreements.