| Investment Components |
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
Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Other Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper |
|
Level 2 |
|
|
$ |
6,286 |
|
|
$ |
2 |
|
|
$ |
0 |
|
|
$ |
6,288 |
|
|
$ |
5,662 |
|
|
$ |
626 |
|
|
$ |
0 |
|
|
Certificates of deposit |
|
Level 2 |
|
|
|
2,570 |
|
|
|
0 |
|
|
|
0 |
|
|
|
2,570 |
|
|
|
2,531 |
|
|
|
39 |
|
|
|
0 |
|
|
U.S. government securities |
|
Level 1 |
|
|
|
76,079 |
|
|
|
7 |
|
|
|
(4,232 |
) |
|
|
71,854 |
|
|
|
1,955 |
|
|
|
69,899 |
|
|
|
0 |
|
|
U.S. agency securities |
|
Level 2 |
|
|
|
5,815 |
|
|
|
5 |
|
|
|
(9 |
) |
|
|
5,811 |
|
|
|
4,352 |
|
|
|
1,459 |
|
|
|
0 |
|
|
Foreign government bonds |
|
Level 2 |
|
|
|
493 |
|
|
|
0 |
|
|
|
(36 |
) |
|
|
457 |
|
|
|
0 |
|
|
|
457 |
|
|
|
0 |
|
|
Mortgage- and asset-backed securities |
|
Level 2 |
|
|
|
845 |
|
|
|
0 |
|
|
|
(45 |
) |
|
|
800 |
|
|
|
0 |
|
|
|
800 |
|
|
|
0 |
|
|
Corporate notes and bonds |
|
Level 2 |
|
|
|
11,373 |
|
|
|
1 |
|
|
|
(825 |
) |
|
|
10,549 |
|
|
|
0 |
|
|
|
10,549 |
|
|
|
0 |
|
|
Corporate notes and bonds |
|
Level 3 |
|
|
|
76 |
|
|
|
0 |
|
|
|
0 |
|
|
|
76 |
|
|
|
0 |
|
|
|
76 |
|
|
|
0 |
|
|
Municipal securities |
|
Level 2 |
|
|
|
372 |
|
|
|
8 |
|
|
|
(22 |
) |
|
|
358 |
|
|
|
0 |
|
|
|
358 |
|
|
|
0 |
|
|
Municipal securities |
|
Level 3 |
|
|
|
104 |
|
|
|
0 |
|
|
|
(7 |
) |
|
|
97 |
|
|
|
0 |
|
|
|
97 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt investments |
|
|
|
|
$ |
104,013 |
|
|
$ |
23 |
|
|
$ |
(5,176 |
) |
|
$ |
98,860 |
|
|
$ |
14,500 |
|
|
$ |
84,360 |
|
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Net Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity investments |
|
Level 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,616 |
|
|
$ |
1,147 |
|
|
$ |
0 |
|
|
$ |
469 |
|
|
Equity investments |
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,370 |
|
|
|
0 |
|
|
|
0 |
|
|
|
6,370 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,986 |
|
|
$ |
1,147 |
|
|
$ |
0 |
|
|
$ |
6,839 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,237 |
|
|
$ |
7,237 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
Derivatives, net (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18 |
|
|
|
0 |
|
|
|
18 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
114,101 |
|
|
$ |
22,884 |
|
|
$ |
84,378 |
|
|
$ |
6,839 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
Fair Value
Level |
|
|
Adjusted
Cost Basis |
|
|
Unrealized
Gains |
|
|
Unrealized
Losses |
|
|
Recorded
Basis |
|
|
Cash
and Cash
Equivalents |
|
|
Short-term
Investments |
|
|
Equity
Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Other Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial paper |
|
Level 2 |
|
|
$ |
2,500 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
$ |
2,500 |
|
|
$ |
2,498 |
|
|
$ |
2 |
|
|
$ |
0 |
|
|
Certificates of deposit |
|
Level 2 |
|
|
|
2,071 |
|
|
|
0 |
|
|
|
0 |
|
|
|
2,071 |
|
|
|
2,032 |
|
|
|
39 |
|
|
|
0 |
|
|
U.S. government securities |
|
Level 1 |
|
|
|
79,696 |
|
|
|
29 |
|
|
|
(2,178 |
) |
|
|
77,547 |
|
|
|
9 |
|
|
|
77,538 |
|
|
|
0 |
|
|
U.S. agency securities |
|
Level 2 |
|
|
|
419 |
|
|
|
0 |
|
|
|
(9 |
) |
|
|
410 |
|
|
|
0 |
|
|
|
410 |
|
|
|
0 |
|
|
Foreign government bonds |
|
Level 2 |
|
|
|
506 |
|
|
|
0 |
|
|
|
(24 |
) |
|
|
482 |
|
|
|
0 |
|
|
|
482 |
|
|
|
0 |
|
|
Mortgage- and asset-backed securities |
|
Level 2 |
|
|
|
727 |
|
|
|
1 |
|
|
|
(30 |
) |
|
|
698 |
|
|
|
0 |
|
|
|
698 |
|
|
|
0 |
|
|
Corporate notes and bonds |
|
Level 2 |
|
|
|
11,661 |
|
|
|
4 |
|
|
|
(554 |
) |
|
|
11,111 |
|
|
|
0 |
|
|
|
11,111 |
|
|
|
0 |
|
|
Corporate notes and bonds |
|
Level 3 |
|
|
|
67 |
|
|
|
0 |
|
|
|
0 |
|
|
|
67 |
|
|
|
0 |
|
|
|
67 |
|
|
|
0 |
|
|
Municipal securities |
|
Level 2 |
|
|
|
368 |
|
|
|
19 |
|
|
|
(13 |
) |
|
|
374 |
|
|
|
0 |
|
|
|
374 |
|
|
|
0 |
|
|
Municipal securities |
|
Level 3 |
|
|
|
103 |
|
|
|
0 |
|
|
|
(6 |
) |
|
|
97 |
|
|
|
0 |
|
|
|
97 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt investments |
|
|
|
|
$ |
98,118 |
|
|
$ |
53 |
|
|
$ |
(2,814 |
) |
|
$ |
95,357 |
|
|
$ |
4,539 |
|
|
$ |
90,818 |
|
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Fair Value Recorded in Net Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity investments |
|
Level 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,590 |
|
|
$ |
1,134 |
|
|
$ |
0 |
|
|
$ |
456 |
|
|
Equity investments |
|
Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,435 |
|
|
|
0 |
|
|
|
0 |
|
|
|
6,435 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
8,025 |
|
|
$ |
1,134 |
|
|
$ |
0 |
|
|
$ |
6,891 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
8,258 |
|
|
$ |
8,258 |
|
|
$ |
0 |
|
|
$ |
0 |
|
|
Derivatives, net (a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
|
|
|
0 |
|
|
|
8 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
111,648 |
|
|
$ |
13,931 |
|
|
$ |
90,826 |
|
|
$ |
6,891 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Refer to Note 5 – Derivatives for further information on the fair value of our derivative instruments. |
|
| Unrealized Losses on Debt Investments |
Debt investments with continuous unrealized losses for less than 12 months and 12 months or greater and their related fair values were as follows:
|
|
|
Less than 12 Months |
|
|
12 Months or Greater |
|
|
|
|
|
|
|
Total
Unrealized
Losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
|
Fair Value |
|
|
|
Unrealized
Losses |
|
|
|
Fair Value |
|
|
|
Unrealized
Losses |
|
|
|
Total
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government and agency securities |
|
$ |
61,761 |
|
|
$ |
(3,411 |
) |
|
$ |
4,233 |
|
|
$ |
(830 |
) |
|
$ |
65,994 |
|
|
$ |
(4,241 |
) |
|
Foreign government bonds |
|
|
392 |
|
|
|
(22 |
) |
|
|
64 |
|
|
|
(14 |
) |
|
|
456 |
|
|
|
(36 |
) |
|
Mortgage- and asset-backed securities |
|
|
434 |
|
|
|
(27 |
) |
|
|
130 |
|
|
|
(18 |
) |
|
|
564 |
|
|
|
(45 |
) |
|
Corporate notes and bonds |
|
|
8,258 |
|
|
|
(554 |
) |
|
|
2,178 |
|
|
|
(271 |
) |
|
|
10,436 |
|
|
|
(825 |
) |
|
Municipal securities |
|
|
190 |
|
|
|
(22 |
) |
|
|
74 |
|
|
|
(7 |
) |
|
|
264 |
|
|
|
(29 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
71,035 |
|
|
$ |
(4,036 |
) |
|
$ |
6,679 |
|
|
$ |
(1,140 |
) |
|
$ |
77,714 |
|
|
$ |
(5,176 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 12 Months |
|
|
12 Months or Greater |
|
|
|
|
|
|
|
Total
Unrealized
Losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
|
Fair Value |
|
|
|
Unrealized
Losses |
|
|
|
Fair Value |
|
|
|
Unrealized
Losses |
|
|
|
Total
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government and agency securities |
|
$ |
59,092 |
|
|
$ |
(1,835 |
) |
|
$ |
2,210 |
|
|
$ |
(352 |
) |
|
$ |
61,302 |
|
|
$ |
(2,187 |
) |
|
Foreign government bonds |
|
|
418 |
|
|
|
(18 |
) |
|
|
27 |
|
|
|
(6 |
) |
|
|
445 |
|
|
|
(24 |
) |
|
Mortgage- and asset-backed securities |
|
|
510 |
|
|
|
(26 |
) |
|
|
41 |
|
|
|
(4 |
) |
|
|
551 |
|
|
|
(30 |
) |
|
Corporate notes and bonds |
|
|
9,443 |
|
|
|
(477 |
) |
|
|
786 |
|
|
|
(77 |
) |
|
|
10,229 |
|
|
|
(554 |
) |
|
Municipal securities |
|
|
178 |
|
|
|
(12 |
) |
|
|
74 |
|
|
|
(7 |
) |
|
|
252 |
|
|
|
(19 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
69,641 |
|
|
$ |
(2,368 |
) |
|
$ |
3,138 |
|
|
$ |
(446 |
) |
|
$ |
72,779 |
|
|
$ |
(2,814 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Investment Maturities |
Debt Investment Maturities
|
(In millions) |
|
Adjusted
Cost Basis |
|
|
Estimated
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Due in one year or less |
|
$ |
35,526 |
|
|
$ |
35,416 |
|
|
Due after one year through five years |
|
|
50,062 |
|
|
|
47,328 |
|
|
Due after five years through 10 years |
|
|
17,070 |
|
|
|
14,925 |
|
|
Due after 10 years |
|
|
1,355 |
|
|
|
1,191 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
104,013 |
|
|
$ |
98,860 |
|
|
|
|
|
|
|
|
|
|
|
|