Cash, Cash Equivalents, and Marketable Securities (Notes)

9 Months Ended

Sep. 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
		September 30, 2017
	Fair Value  Level	Automotive		Financial Services		All Other		Consolidated
Cash and cash equivalents
U.S. government	1	$	498	$	112	$	—	$	610
U.S. government agencies	2	150		200		—		350
Non-U.S. government and agencies	2	—		357		—		357
Corporate debt	2	—		—		—		—
Total marketable securities classified as cash equivalents		648		669		—		1,317
Cash, time deposits, and money market funds		8,105		8,166		1		16,272
Total cash and cash equivalents		$	8,753	$	8,835	$	1	$	17,589
Marketable securities
U.S. government	1	$	4,418	$	670	$	—	$	5,088
U.S. government agencies	2	2,990		384		—		3,374
Non-U.S. government and agencies	2	5,833		971		—		6,804
Corporate debt	2	3,958		1,051		—		5,009
Equities	1	160		—		—		160
Other marketable securities	2	32		25		—		57
Total marketable securities		$	17,391	$	3,101	$	—	$	20,492

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
	September 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	$	3,228	$	—	$	(8	)	$	3,220	$	1,268	$	1,952	$	—
U.S. government agencies	1,795		—		(5		)	1,790		228		1,547		15
Non-U.S. government and agencies	3,392		6		(7		)	3,391		99		3,242		50
Corporate debt	1,542		1		(1		)	1,542		530		1,012		—
Total	$	9,957	$	7	$	(21	)	$	9,943	$	2,125	$	7,753	$	65

Sales proceeds from investments classified as AFS and sold prior to maturity were $0 and $491 million in the third quarter of 2016 and 2017, respectively, and $69 million and $3.1 billion in the first nine months of 2016 and 2017, respectively. Gross realized gains from the sale of AFS securities in both the third quarter of 2016 and 2017 were $0, and in the first nine months of 2016 and 2017 were $1 million and $3 million, respectively. Gross realized losses from the sale of AFS securities in both the third quarter of 2016 and 2017 were $0, and in the first nine months of 2016 and 2017 were $0 and $8 million, 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	)
	September 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	$	2,674	$	(7	)	$	49	$	(1	)	$	2,723	$	(8	)
U.S. government agencies	1,608		(4		)	49		(1		)	1,657		(5		)
Non-U.S. government and agencies	1,956		(7		)	39		—			1,995		(7		)
Corporate debt	543		(1		)	—		—			543		(1		)
Total	$	6,781	$	(19	)	$	137	$	(2	)	$	6,918	$	(21	)

We determine other-than-temporary impairments on cash equivalents and marketable securities using a specific identification method. During the nine months ended September 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 $326 million at December 31, 2016 and September 30,2017, respectively.