The fair values of each major class of the Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in millions):



	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)

Fair value measurement as of March 31, 2019, using:							Total
Assets:
Interest-bearing securities:
U.S. Treasury notes	$	2,682	$	—	$	—	$	2,682
U.S. Treasury bills	3,475		—		—		3,475
Other government-related debt securities:
U.S.	—		111		—		111
Foreign and other	—		958		—		958
Corporate debt securities:
Financial	—		2,750		—		2,750
Industrial	—		2,458		—		2,458
Other	—		566		—		566
Residential-mortgage-backed securities	—		1,382		—		1,382
Other mortgage- and asset-backed securities	—		467		—		467
Money market mutual funds	4,375		—		—		4,375
Other short-term interest-bearing securities	—		6,428		—		6,428
Equity securities	246		—		—		246
Derivatives:
Foreign currency contracts	—		238		—		238
Cross-currency swap contracts	—		143		—		143
Interest rate swap contracts	—		94		—		94
Total assets	$	10,778	$	15,595	$	—	$	26,373

Liabilities:
Derivatives:
Foreign currency contracts	$	—	$	8	$	—	$	8
Cross-currency swap contracts	—		429		—		429
Interest rate swap contracts	—		54		—		54
Contingent consideration obligations	—		—		66		66
Total liabilities	$	—	$	491	$	66	$	557



	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)

Fair value measurement as of December 31, 2018, using:							Total
Assets:
Interest-bearing securities:
U.S. Treasury notes	$	2,663	$	—	$	—	$	2,663
U.S. Treasury bills	8,191		—		—		8,191
Other government-related debt securities:
U.S.	—		110		—		110
Foreign and other	—		932		—		932
Corporate debt securities:
Financial	—		2,697		—		2,697
Industrial	—		2,504		—		2,504
Other	—		562		—		562
Residential-mortgage-backed securities	—		1,422		—		1,422
Other mortgage- and asset-backed securities	—		469		—		469
Money market mutual funds	5,659		—		—		5,659
Other short-term interest-bearing securities	—		3,515		—		3,515
Equity securities	176		—		—		176
Derivatives:
Foreign currency contracts	—		182		—		182
Cross-currency swap contracts	—		170		—		170
Interest rate swap contracts	—		56		—		56
Total assets	$	16,689	$	12,619	$	—	$	29,308

Liabilities:
Derivatives:
Foreign currency contracts	$	—	$	26	$	—	$	26
Cross-currency swap contracts	—		401		—		401
Interest rate swap contracts	—		149		—		149
Contingent consideration obligations	—		—		72		72
Total liabilities	$	—	$	576	$	72	$	648