Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.20.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements by Level for Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes fair value measurements by level at June 30, 2020, for assets and liabilities measured at fair value on a recurring basis ($ in millions):
 
Level I
 
Level II
 
Level III
 
Total
Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
12,798

 
$

 
$

 
$
12,798

Investments:
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
238

 
$

 
$

 
$
238

Corporate securities

 
5,013

 

 
5,013

Municipal securities

 
2,507

 

 
2,507

Short-term time deposits

 
56

 

 
56

Asset-backed securities

 
971

 

 
971

Residential mortgage-backed securities

 
920

 

 
920

Commercial mortgage-backed securities

 
599

 

 
599

Equity securities
559

 
2

 

 
561

Total investments
$
797

 
$
10,068

 
$

 
$
10,865

Restricted deposits:
 

 
 

 
 

 
 

Cash and cash equivalents
$
157

 
$

 
$

 
$
157

Certificates of deposit

 
104

 

 
104

Corporate securities

 
18

 

 
18

Municipal securities

 
28

 

 
28

U.S. Treasury securities and obligations of U.S. government corporations and agencies
743

 

 

 
743

Total restricted deposits
$
900

 
$
150

 
$

 
$
1,050

Total assets at fair value
$
14,495

 
$
10,218

 
$

 
$
24,713



The following table summarizes fair value measurements by level at December 31, 2019, for assets and liabilities measured at fair value on a recurring basis ($ in millions): 
 
Level I
 
Level II
 
Level III
 
Total
Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
12,123

 
$

 
$

 
$
12,123

Investments:
 

 
 

 
 

 
 

U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
73

 
$

 
$

 
$
73

Corporate securities

 
3,713

 

 
3,713

Municipal securities

 
2,379

 

 
2,379

Asset-backed securities

 
744

 

 
744

Residential mortgage-backed securities

 
471

 

 
471

Commercial mortgage-backed securities

 
388

 

 
388

Total investments
$
73

 
$
7,695

 
$

 
$
7,768

Restricted deposits:
 

 
 

 
 

 
 

Cash and cash equivalents
$
8

 
$

 
$

 
$
8

Certificates of deposit

 
482

 

 
482

Corporate securities

 
20

 

 
20

Municipal securities

 
9

 

 
9

U.S. Treasury securities and obligations of U.S. government corporations and agencies
139

 

 

 
139

Total restricted deposits
$
147

 
$
511

 
$

 
$
658

Other long-term assets:
 
 
 
 
 
 
 
Interest rate swap agreements
$

 
$
10

 
$

 
$
10

Total assets at fair value
$
12,343

 
$
8,216

 
$

 
$
20,559

Liabilities
 
 
 
 
 
 
 
Other long-term liabilities:
 
 
 
 
 
 
 
Interest rate swap agreements
$

 
$
11

 
$

 
$
11

Total liabilities at fair value
$

 
$
11

 
$

 
$
11