v3.26.1
Marketable and Other Securities
6 Months Ended
Jun. 30, 2026
Marketable Securities [Abstract]  
Marketable and Other Securities Marketable and Other Securities
The following table summarizes the fair value of cash equivalents and marketable debt securities, which approximates cost:
Fair Value LevelJune 30, 2026December 31, 2025
Cash and cash equivalents
Cash and time deposits$9,820 $10,884 
Available-for-sale debt securities
U.S. government and agencies2186 451 
Corporate debt23,446 3,317 
Sovereign debt21,320 923 
Total available-for-sale debt securities – cash equivalents4,952 4,691 
Money market funds15,362 5,369 
Total cash and cash equivalents$20,134 $20,945 
Marketable debt securities
U.S. government and agencies2$692 $2,370 
Corporate debt and other23,405 3,796 
Mortgage and asset-backed2487 558 
Total available-for-sale debt securities – marketable securities$4,585 $6,724 
Restricted cash
Cash and cash equivalents $395 $357 
Money market funds13,047 2,981 
Total restricted cash$3,442 $3,339 
Available-for-sale debt securities included above with contractual maturities(a)
Due in one year or less$5,599 
Due between one and five years3,407 
Total available-for-sale debt securities with contractual maturities$9,006 
__________
(a)Excludes mortgage and asset-backed securities as these securities are not due at a single maturity date.

Proceeds from the sale of available-for-sale debt securities sold prior to maturity were $732 million and $621 million in the three months ended June 30, 2026 and 2025 and $3.3 billion and $2.2 billion in the six months ended June 30, 2026 and 2025. Net unrealized gains and losses on available-for-sale debt securities were insignificant in the three and six months ended June 30, 2026 and 2025. Cumulative unrealized losses on available-for-sale debt securities were insignificant at June 30, 2026 and December 31, 2025.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the total shown in the condensed consolidated statements of cash flows:
June 30, 2026December 31, 2025
Cash and cash equivalents$20,134 $20,945 
Restricted cash included in Other current assets2,999 2,912 
Restricted cash included in Other assets443 426 
Total$23,576 $24,284