v3.24.2.u1
Investments (Tables)
6 Months Ended
Jun. 30, 2024
Investments [Abstract]  
Schedule of Fair Value of Short and Long-Term Investments Classified as Available for Sale
The following tables summarize the unrealized gains and losses and estimated fair value of our investments classified as available-for-sale debt securities as of the dates indicated (in millions):
 June 30, 2024
 Gross
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Short-term investments:
Corporate debt securities$2,755 $— $(6)$2,749 
Government and agency securities463 — (9)454 
$3,218 $— $(15)$3,203 
Long-term investments:
Corporate debt securities$774 $1 $(5)$770 
Government and agency securities421   —   (12) 409 
$1,195 $1 $(17)$1,179 
 December 31, 2023
 Gross
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Short-term investments:
Corporate debt securities$2,170 $— $(8)$2,162 
Government and agency securities382 — (11)371 

$2,552 $— $(19)$2,533 
Long-term investments:
Corporate debt securities$338 $— $(10)$328 
Government and agency securities287   —   (16) 271 
$625 $— $(26)$599 
Schedule of Estimated Fair Values of Short and Long-Term Investments Classified by Date of Contractual Maturity
The following table presents estimated fair values of our short-term and long-term investments classified as available-for-sale debt securities by date of contractual maturity as of the date indicated (in millions):
 June 30,
2024
One year or less
$3,203 
One year through two years
491 
Two years through three years672 
Three years through four years12 
Thereafter
4 
Total$4,382 
Schedule of Equity Method Investments
The following table summarizes our equity investments as of the dates indicated (in millions):
 Balance Sheet LocationJune 30,
2024
December 31,
2023
Equity investment in AdevintaEquity investment in Adevinta$— $4,474 
Equity investment in Aurelia
Equity investment in Aurelia
1,910 — 
Other equity investments under the fair value option
Long-term investments354 382 
Other equity investments without readily determinable fair values
Long-term investments134 93 
Equity investments under the equity method of accountingLong-term investments55 55 
Total equity investments$2,453 $5,004 
Schedule of Unrealized Gains and Losses
The following table summarizes unrealized gains and losses on equity investments held as of June 30, 2024 and presented within loss on equity investments and warrant, net for the periods indicated (in millions):
 Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Net gains (losses) recognized during the period on equity investments
$61 $(245)$(185)$(85)
Less: Net gains recognized during the period on equity investments sold during the period
84 — 78 — 
Total unrealized losses on equity investments held, end of period
$(23)$(245)$(263)$(85)