Available-for-sale investments (Tables)

6 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

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, 2016	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
U.S. Treasury securities	$	7,916	$	104	$	—		$	8,020
Other government-related debt securities:
U.S.	345		2		—			347
Foreign and other	1,814		54		(2		)	1,866
Corporate debt securities:
Financial	8,120		121		(3		)	8,238
Industrial	8,345		141		(13		)	8,473
Other	1,002		17		(1		)	1,018
Residential mortgage-backed securities	1,729		15		(6		)	1,738
Other mortgage- and asset-backed securities	2,197		10		(27		)	2,180
Money market mutual funds	1,673		—		—			1,673
Other short-term interest-bearing securities	1,014		—		—			1,014
Total interest-bearing securities	34,155		464		(52		)	34,567
Equity securities	89		34		—			123
Total available-for-sale investments	$	34,244	$	498	$	(52	)	$	34,690

Type of security as of December 31, 2015	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
U.S. Treasury securities	$	4,298	$	—	$	(24	)	$	4,274
Other government-related debt securities:
U.S.	536		—		(2		)	534
Foreign and other	1,768		7		(36		)	1,739
Corporate debt securities:
Financial	7,904		7		(40		)	7,871
Industrial	7,961		11		(136		)	7,836
Other	905		1		(21		)	885
Residential mortgage-backed securities	1,484		1		(15		)	1,470
Other mortgage- and asset-backed securities	2,524		—		(55		)	2,469
Money market mutual funds	3,370		—		—			3,370
Other short-term interest-bearing securities	528		—		—			528
Total interest-bearing securities	31,278		27		(329		)	30,976
Equity securities	88		48		—			136
Total available-for-sale investments	$	31,366	$	75	$	(329	)	$	31,112

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, 2016		December 31, 2015
Cash and cash equivalents	$	2,163	$	3,738
Marketable securities	32,404		27,238
Other assets — noncurrent	123		136
Total available-for-sale investments	$	34,690	$	31,112

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, 2016		December 31, 2015
Maturing in one year or less	$	3,965	$	4,578
Maturing after one year through three years	11,141		9,370
Maturing after three years through five years	12,155		9,932
Maturing after five years through ten years	3,335		3,087
Maturing after ten years	53		70
Mortgage- and asset-backed securities	3,918		3,939
Total interest-bearing securities	$	34,567	$	30,976

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, 2016	Fair value		Unrealized losses			Fair value		Unrealized losses
U.S. Treasury securities	$	174	$	—		$	—	$	—
Other government-related debt securities:
Foreign and other	53		(1		)	67		(1		)
Corporate debt securities:
Financial	420		(2		)	171		(1		)
Industrial	884		(8		)	405		(5		)
Other	64		—			31		(1		)
Residential mortgage-backed securities	100		(1		)	289		(5		)
Other mortgage- and asset-backed securities	168		(4		)	481		(23		)
Equity securities	1		—			—		—
Total	$	1,864	$	(16	)	$	1,444	$	(36	)

	Less than 12 months					12 months or greater
Type of security as of December 31, 2015	Fair value		Unrealized losses			Fair value		Unrealized losses
U.S. Treasury securities	$	4,196	$	(24	)	$	—	$	—
Other government-related debt securities:
U.S.	494		(2		)	20		—
Foreign and other	1,306		(32		)	56		(4		)
Corporate debt securities:
Financial	5,988		(38		)	228		(2		)
Industrial	5,427		(108		)	679		(28		)
Other	807		(19		)	39		(2		)
Residential mortgage-backed securities	804		(8		)	304		(7		)
Other mortgage- and asset-backed securities	1,834		(19		)	561		(36		)
Total	$	20,856	$	(250	)	$	1,887	$	(79	)