Notes to Financial Statements
The components of investments were as follows:
(In millions) |
|
Fair Value Level |
|
Adjusted Cost Basis |
|
Unrealized Gains |
|
Unrealized Losses |
|
|
Recorded Basis |
|
Cash and Cash Equivalents |
|
Short-term Investments |
|
Equity and Other Investments |
|
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March 31, 2024 |
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Changes in Fair Value Recorded in Other Comprehensive Income |
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Commercial paper |
|
Level 2 |
|
$ |
5,535 |
|
$ |
0 |
|
$ |
0 |
|
|
$ |
5,535 |
|
$ |
5,535 |
|
$ |
0 |
|
$ |
0 |
|
Certificates of deposit |
|
Level 2 |
|
|
2,300 |
|
|
0 |
|
|
0 |
|
|
|
2,300 |
|
|
2,256 |
|
|
44 |
|
|
0 |
|
U.S. government securities |
|
Level 1 |
|
|
52,036 |
|
|
3 |
|
|
(3,074 |
) |
|
|
48,965 |
|
|
4 |
|
|
48,961 |
|
|
0 |
|
U.S. agency securities |
|
Level 2 |
|
|
23 |
|
|
0 |
|
|
0 |
|
|
|
23 |
|
|
0 |
|
|
23 |
|
|
0 |
|
Foreign government bonds |
|
Level 2 |
|
|
352 |
|
|
4 |
|
|
(12 |
) |
|
|
344 |
|
|
0 |
|
|
344 |
|
|
0 |
|
Mortgage- and asset-backed securities |
|
Level 2 |
|
|
980 |
|
|
4 |
|
|
(34 |
) |
|
|
950 |
|
|
0 |
|
|
950 |
|
|
0 |
|
Corporate notes and bonds |
|
Level 2 |
|
|
9,874 |
|
|
40 |
|
|
(340 |
) |
|
|
9,574 |
|
|
0 |
|
|
9,574 |
|
|
0 |
|
Corporate notes and bonds |
|
Level 3 |
|
|
1,646 |
|
|
0 |
|
|
(1 |
) |
|
|
1,645 |
|
|
0 |
|
|
145 |
|
|
1,500 |
|
Municipal securities |
|
Level 2 |
|
|
263 |
|
|
1 |
|
|
(14 |
) |
|
|
250 |
|
|
0 |
|
|
250 |
|
|
0 |
|
Municipal securities |
|
Level 3 |
|
|
104 |
|
|
0 |
|
|
(16 |
) |
|
|
88 |
|
|
0 |
|
|
88 |
|
|
0 |
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Total debt investments |
|
|
|
$ |
73,113 |
|
$ |
52 |
|
$ |
(3,491 |
) |
|
$ |
69,674 |
|
$ |
7,795 |
|
$ |
60,379 |
|
$ |
1,500 |
|
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|
Changes in Fair Value Recorded in Net Income |
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|
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|
Equity investments |
|
Level 1 |
|
|
|
|
|
|
|
|
|
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|
$ |
3,340 |
|
$ |
258 |
|
$ |
0 |
|
$ |
3,082 |
|
Equity investments |
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
10,225 |
|
|
0 |
|
|
0 |
|
|
10,225 |
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|||||||||||
Total equity investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
13,565 |
|
$ |
258 |
|
$ |
0 |
|
$ |
13,307 |
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Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
11,581 |
|
$ |
11,581 |
|
$ |
0 |
|
$ |
0 |
|
Derivatives, net (a) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
|
|
0 |
|
|
8 |
|
|
0 |
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Total |
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|
$ |
94,828 |
|
$ |
19,634 |
|
$ |
60,387 |
|
$ |
14,807 |
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|
(In millions) |
|
Fair Value Level |
|
Adjusted Cost Basis |
|
Unrealized Gains |
|
Unrealized Losses |
|
|
Recorded Basis |
|
Cash and Cash Equivalents |
|
Short-term Investments |
|
Equity and Other Investments |
|
|||||||
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|
June 30, 2023 |
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|
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|
|
Changes in Fair Value Recorded in Other Comprehensive Income |
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper |
|
Level 2 |
|
$ |
16,589 |
|
$ |
0 |
|
$ |
0 |
|
|
$ |
16,589 |
|
$ |
12,231 |
|
$ |
4,358 |
|
$ |
0 |
|
Certificates of deposit |
|
Level 2 |
|
|
2,701 |
|
|
0 |
|
|
0 |
|
|
|
2,701 |
|
|
2,657 |
|
|
44 |
|
|
0 |
|
U.S. government securities |
|
Level 1 |
|
|
65,237 |
|
|
2 |
|
|
(3,870 |
) |
|
|
61,369 |
|
|
2,991 |
|
|
58,378 |
|
|
0 |
|
U.S. agency securities |
|
Level 2 |
|
|
2,703 |
|
|
0 |
|
|
0 |
|
|
|
2,703 |
|
|
894 |
|
|
1,809 |
|
|
0 |
|
Foreign government bonds |
|
Level 2 |
|
|
498 |
|
|
1 |
|
|
(24 |
) |
|
|
475 |
|
|
0 |
|
|
475 |
|
|
0 |
|
Mortgage- and asset-backed securities |
|
Level 2 |
|
|
824 |
|
|
1 |
|
|
(39 |
) |
|
|
786 |
|
|
0 |
|
|
786 |
|
|
0 |
|
Corporate notes and bonds |
|
Level 2 |
|
|
10,809 |
|
|
8 |
|
|
(583 |
) |
|
|
10,234 |
|
|
0 |
|
|
10,234 |
|
|
0 |
|
Corporate notes and bonds |
|
Level 3 |
|
|
120 |
|
|
0 |
|
|
0 |
|
|
|
120 |
|
|
0 |
|
|
120 |
|
|
0 |
|
Municipal securities |
|
Level 2 |
|
|
285 |
|
|
1 |
|
|
(18 |
) |
|
|
268 |
|
|
7 |
|
|
261 |
|
|
0 |
|
Municipal securities |
|
Level 3 |
|
|
103 |
|
|
0 |
|
|
(16 |
) |
|
|
87 |
|
|
0 |
|
|
87 |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt investments |
|
|
|
$ |
99,869 |
|
$ |
13 |
|
$ |
(4,550 |
) |
|
$ |
95,332 |
|
$ |
18,780 |
|
$ |
76,552 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Net Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity investments |
|
Level 1 |
|
|
|
|
|
|
|
|
|
|
|
$ |
10,138 |
|
$ |
7,446 |
|
$ |
0 |
|
$ |
2,692 |
|
Equity investments |
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
7,187 |
|
|
0 |
|
|
0 |
|
|
7,187 |
|
|
|
|
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|
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|
|
|
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|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
Total equity investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
17,325 |
|
$ |
7,446 |
|
$ |
0 |
|
$ |
9,879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
8,478 |
|
$ |
8,478 |
|
$ |
0 |
|
$ |
0 |
|
Derivatives, net (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
|
|
0 |
|
|
6 |
|
|
0 |
|
|
|
|
|
|
|
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|
|
|
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|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
121,141 |
|
$ |
34,704 |
|
$ |
76,558 |
|
$ |
9,879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|