Cash, Cash Equivalents, and Marketable Securities (Notes)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES

CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES

The fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis on our balance sheet were as follows (in millions):

		December 31, 2016
	Fair Value  Level	Automotive		Financial Services		All Other		Consolidated
Cash and cash equivalents
U.S. government	1	$	888	$	924	$	—	$	1,812
U.S. government agencies	2	—		—		—		—
Non-U.S. government and agencies	2	200		142		—		342
Corporate debt	2	100		—		—		100
Total marketable securities classified as cash equivalents		1,188		1,066		—		2,254
Cash, time deposits, and money market funds		6,632		7,011		8		13,651
Total cash and cash equivalents		$	7,820	$	8,077	$	8	$	15,905
Marketable securities
U.S. government	1	$	8,099	$	1,634	$	—	$	9,733
U.S. government agencies	2	2,244		505		—		2,749
Non-U.S. government and agencies	2	4,751		632		—		5,383
Corporate debt	2	4,329		475		—		4,804
Equities	1	165		—		—		165
Other marketable securities	2	54		34		—		88
Total marketable securities		$	19,642	$	3,280	$	—	$	22,922
		June 30, 2017
	Fair Value  Level	Automotive		Financial Services		All Other		Consolidated
Cash and cash equivalents
U.S. government	1	$	300	$	182	$	—	$	482
U.S. government agencies	2	624		100		—		724
Non-U.S. government and agencies	2	270		342		—		612
Corporate debt	2	—		75		—		75
Total marketable securities classified as cash equivalents		1,194		699		—		1,893
Cash, time deposits, and money market funds		7,659		6,667		4		14,330
Total cash and cash equivalents		$	8,853	$	7,366	$	4	$	16,223
Marketable securities
U.S. government	1	$	5,365	$	977	$	—	$	6,342
U.S. government agencies	2	3,677		663		—		4,340
Non-U.S. government and agencies	2	6,036		790		—		6,826
Corporate debt	2	4,284		854		—		5,138
Equities	1	177				—		177
Other marketable securities	2	36		27		—		63
Total marketable securities		$	19,575	$	3,311	$	—	$	22,886

NOTE 7.CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES(Continued)

The cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities on our balance sheet were as follows (in millions):

	December 31, 2016
										Fair Value of Securities with Contractual Maturities
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Within 1 Year		After 1 Year through 5 Years		After 5 Years through 10 Years
Automotive
U.S. government	$	3,703	$	2	$	(14	)	$	3,691	$	727	$	2,776	$	188
U.S. government agencies	308		—		(2		)	306		—		306		—
Non-U.S. government and agencies	1,443		1		(11		)	1,433		148		1,285		—
Corporate debt	1,079		—		—			1,079		1,031		48		—
Total	$	6,533	$	3	$	(27	)	$	6,509	$	1,906	$	4,415	$	188
	June 30, 2017
										Fair Value of Securities with Contractual Maturities
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Within 1 Year		After 1 Year through 5 Years		After 5 Years through 10 Years
Automotive
U.S. government	$	2,587	$	—	$	(7	)	$	2,580	$	524	$	2,056	$	—
U.S. government agencies	1,982		1		(4		)	1,979		677		1,237		65
Non-U.S. government and agencies	2,961		5		(5		)	2,961		248		2,688		25
Corporate debt	1,398		—		(2		)	1,396		756		633		7
Total	$	8,928	$	6	$	(18	)	$	8,916	$	2,205	$	6,614	$	97

Sales proceeds from investments classified as AFS and sold prior to maturity were $0 and $1.3 billion in the second quarter of 2016 and 2017, respectively, and $69 million and $2.6 billion in the first half of 2016 and 2017, respectively. The gross realized gains from the sale of AFS securities were $0 and $2 million in the second quarter of 2016 and 2017, respectively, and $1 million and $3 million in the first half of 2016 and 2017, respectively. Gross realized losses from the sale of AFS securities were $0 and $6 million in the second quarter of 2016 and 2017, respectively, and $0 and $8 million in the first half of 2016 and 2017, respectively.

NOTE 7.CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES(Continued)

The present fair values and gross unrealized losses for cash equivalents and marketable securities accounted for as AFS securities that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, were as follows (in millions):

	December 31, 2016
	Less than 1 year					1 Year or Greater				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Automotive
U.S. government	$	1,474	$	(14	)	$	—	$	—	$	1,474	$	(14	)
U.S. government agencies	261		(2		)	—		—		261		(2		)
Non-U.S. government and agencies	1,137		(11		)	—		—		1,137		(11		)
Corporate debt	—		—			—		—		—		—
Total	$	2,872	$	(27	)	$	—	$	—	$	2,872	$	(27	)
	June 30, 2017
	Less than 1 year					1 Year or Greater				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Automotive
U.S. government	$	2,580	$	(7	)	$	—	$	—	$	2,580	$	(7	)
U.S. government agencies	1,172		(4		)	—		—		1,172		(4		)
Non-U.S. government and agencies	1,555		(5		)	—		—		1,555		(5		)
Corporate debt	517		(2		)	—		—		517		(2		)
Total	$	5,824	$	(18	)	$	—	$	—	$	5,824	$	(18	)

We determine other-than-temporary impairments on cash equivalents and marketable securities using a specific identification method. During the six months ended June 30, 2016 and 2017, we did not recognize any other-than-temporary impairment loss.

Other Securities

Investments in entities that we do not control and over which we do not have the ability to exercise significant influence are recorded at cost and reported in Other assets in the non-current assets section of our consolidated balance sheet. These cost method investments were $219 million and $221 million at December 31, 2016 and June 30,2017, respectively.