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Available-for-sale investments (Tables)
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6 Months Ended |
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Jun. 30, 2014
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| Investments, Debt and Equity Securities [Abstract] |
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| Amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security |
The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of available-for-sale investments by type of security were as follows (in millions): | | | | | | | | | | | | | | | | | | Type of security as of June 30, 2014 | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Estimated fair value | U.S. Treasury securities | | $ | 2,886 |
| | $ | 5 |
| | $ | (2 | ) | | $ | 2,889 |
| Other government-related debt securities: | | | | | | | | | U.S. | | 963 |
| | 1 |
| | (3 | ) | | 961 |
| Foreign and other | | 1,547 |
| | 26 |
| | (9 | ) | | 1,564 |
| Corporate debt securities: | | | | | | | | | Financial | | 5,131 |
| | 35 |
| | (3 | ) | | 5,163 |
| Industrial | | 5,337 |
| | 46 |
| | (10 | ) | | 5,373 |
| Other | | 570 |
| | 5 |
| | (1 | ) | | 574 |
| Residential mortgage-backed securities | | 1,746 |
| | 5 |
| | (11 | ) | | 1,740 |
| Other mortgage- and asset-backed securities | | 1,926 |
| | 1 |
| | (53 | ) | | 1,874 |
| Money market mutual funds | | 3,328 |
| | — |
| | — |
| | 3,328 |
| Other short-term interest-bearing securities | | 2,138 |
| | — |
| | — |
| | 2,138 |
| Total interest-bearing securities | | 25,572 |
| | 124 |
| | (92 | ) | | 25,604 |
| Equity securities | | 86 |
| | — |
| | (4 | ) | | 82 |
| Total available-for-sale investments | | $ | 25,658 |
| | $ | 124 |
| | $ | (96 | ) | | $ | 25,686 |
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| | | | | | | | | | | | | | | | | | Type of security as of December 31, 2013 |
| Amortized cost |
| Gross unrealized gains |
| Gross unrealized losses |
| Estimated fair value | U.S. Treasury securities |
| $ | 4,737 |
|
| $ | 2 |
|
| $ | (9 | ) |
| $ | 4,730 |
| Other government-related debt securities: |
|
|
|
|
|
|
|
| U.S. |
| 1,087 |
|
| — |
|
| (8 | ) |
| 1,079 |
| Foreign and other |
| 1,574 |
|
| 13 |
|
| (41 | ) |
| 1,546 |
| Corporate debt securities: |
|
|
|
|
|
|
|
| Financial |
| 3,667 |
|
| 28 |
|
| (19 | ) |
| 3,676 |
| Industrial |
| 3,745 |
|
| 36 |
|
| (21 | ) |
| 3,760 |
| Other |
| 388 |
|
| 4 |
|
| (2 | ) |
| 390 |
| Residential mortgage-backed securities |
| 1,478 |
|
| 3 |
|
| (21 | ) |
| 1,460 |
| Other mortgage- and asset-backed securities |
| 1,555 |
|
| 1 |
|
| (45 | ) |
| 1,511 |
| Money market mutual funds |
| 3,366 |
|
| — |
|
| — |
|
| 3,366 |
| Other short-term interest-bearing securities |
| 750 |
|
| — |
|
| — |
|
| 750 |
| Total interest-bearing securities |
| 22,347 |
|
| 87 |
|
| (166 | ) |
| 22,268 |
| Equity securities |
| 85 |
|
| 10 |
|
| — |
|
| 95 |
| Total available-for-sale investments |
| $ | 22,432 |
|
| $ | 97 |
|
| $ | (166 | ) |
| $ | 22,363 |
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| Fair values of available-for-sale investments by classification in the Consolidated Balance Sheets |
The fair values of available-for-sale investments by classification in the Condensed Consolidated Balance Sheets were as follows (in millions): | | | | | | | | | | Classification in the Condensed Consolidated Balance Sheets | | June 30,
2014 | | December 31,
2013 | Cash and cash equivalents | | $ | 3,768 |
| | $ | 3,266 |
| Marketable securities | | 21,836 |
| | 15,596 |
| Other assets — noncurrent | | 82 |
| | 95 |
| Restricted investments | | — |
| | 3,406 |
| Total available-for-sale investments | | $ | 25,686 |
| | $ | 22,363 |
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| Fair values of available-for-sale interest-bearing security investments by contractual maturity |
The fair values of available-for-sale interest-bearing security investments by contractual maturity, except for mortgage- and asset- backed securities that do not have a single maturity date, were as follows (in millions): | | | | | | | | | | Contractual maturity | | June 30,
2014 | | December 31,
2013 | Maturing in one year or less | | $ | 5,820 |
| | $ | 6,799 |
| Maturing after one year through three years | | 5,927 |
| | 4,785 |
| Maturing after three years through five years | | 7,394 |
| | 6,057 |
| Maturing after five years through ten years | | 2,671 |
| | 1,656 |
| Maturing after ten years | | 178 |
| | — |
| Mortgage- and asset-backed securities | | 3,614 |
| | 2,971 |
| Total interest-bearing securities | | $ | 25,604 |
| | $ | 22,268 |
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| Available-for-sale securities, fair value and unrealized losses |
The unrealized losses on available-for-sale investments and their related fair values were as follows (in millions): | | | | | | | | | | | | | | | | | | | | Less than 12 months | | 12 months or greater | Type of security as of June 30, 2014 | | Fair value | | Unrealized losses | | Fair value | | Unrealized losses | U.S. Treasury securities | | $ | 700 |
| | $ | (1 | ) | | $ | 280 |
| | $ | (1 | ) | Other government-related debt securities: | |
| |
| |
| |
| U.S. | | — |
| | — |
| | 323 |
| | (3 | ) | Foreign and other | | 148 |
| | (2 | ) | | 277 |
| | (7 | ) | Corporate debt securities: | |
| |
| |
| |
| Financial | | 1,047 |
| | (2 | ) | | 134 |
| | (1 | ) | Industrial | | 1,831 |
| | (9 | ) | | 130 |
| | (1 | ) | Other | | 126 |
| | (1 | ) | | — |
| | — |
| Residential mortgage-backed securities | | 459 |
| | (3 | ) | | 462 |
| | (8 | ) | Other mortgage- and asset-backed securities | | 514 |
| | (5 | ) | | 860 |
| | (48 | ) | Equity securities | | 16 |
| | (4 | ) | | — |
| | — |
| Total | | $ | 4,841 |
| | $ | (27 | ) | | $ | 2,466 |
| | $ | (69 | ) |
| | | | | | | | | | | | | | | | | | | | Less than 12 months | | 12 months or greater | Type of security as of December 31, 2013 | | Fair value | | Unrealized losses | | Fair value | | Unrealized losses | U.S. Treasury securities | | $ | 2,362 |
| | $ | (9 | ) | | $ | — |
| | $ | — |
| Other government-related debt securities: | |
| |
| |
| |
| U.S. | | 789 |
| | (8 | ) | | — |
| | — |
| Foreign and other | | 986 |
| | (38 | ) | | 39 |
| | (3 | ) | Corporate debt securities: | |
| |
| |
| |
| Financial | | 1,781 |
| | (19 | ) | | — |
| | — |
| Industrial | | 1,543 |
| | (21 | ) | | 1 |
| | — |
| Other | | 182 |
| | (2 | ) | | — |
| | — |
| Residential mortgage-backed securities | | 794 |
| | (14 | ) | | 257 |
| | (7 | ) | Other mortgage- and asset-backed securities | | 982 |
| | (29 | ) | | 313 |
| | (16 | ) | Total | | $ | 9,419 |
| | $ | (140 | ) | | $ | 610 |
| | $ | (26 | ) |
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