Annual report pursuant to Section 13 and 15(d)

INVESTMENTS AND RESTRICTED CASH (Tables)

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INVESTMENTS AND RESTRICTED CASH (Tables)
 12 Months Ended
Dec. 31, 2021
Investments and Cash [Abstract]  
Schedule of Unrealized Loss on Investments [Table Text Block]
The following table presents the age of gross unrealized losses and fair value by investment category for all securities in a loss position as of December 31, 2021 (in millions):
Less Than 12 Months 12 Months or More Total
Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses
U.S. government and agency debt securities $ 145  $ (1) $ 55  $ —  $ 200  $ (1)
Mortgage and asset-backed debt securities 6  —  —  —  6  — 
Corporate debt securities 44  —  20  —  64  — 
U.S. state and local municipal debt securities 5  —  —  —  5  — 
Total marketable securities $ 200  $ (1) $ 75  $ —  $ 275  $ (1)
Summary of Marketable Securities The following is a summary of marketable securities classified as trading and available-for-sale as of December 31, 2021 and 2020 (in millions):
Cost Unrealized
Gains		 Unrealized
Losses		 Estimated
Fair Value
2021
Current trading marketable securities:
Corporate debt securities $ —  $ —  $ —  $ — 
Equity securities 2  —  —  2 
Total trading marketable securities 2  —  —  2 
Current available-for-sale marketable securities:
U.S. government and agency debt securities 199  2  (1) 200 
Mortgage and asset-backed debt securities 7  —  —  7 
Corporate debt securities 121  —  —  121 
U.S. state and local municipal debt securities 5  —  —  5 
Non-U.S. government debt securities 3  —  —  3 
Total available-for-sale marketable securities 335  2  (1) 336 
Total current marketable securities $ 337  $ 2  $ (1) $ 338 
Cost Unrealized
Gains		 Unrealized
Losses		 Estimated
Fair Value
2020
Current trading marketable securities:
Corporate debt securities $ —  $ —  $ —  $ — 
Equity securities 2  —  —  2 
Total trading marketable securities 2  —  —  2 
Current available-for-sale marketable securities:
U.S. government and agency debt securities 181  3  —  184 
Mortgage and asset-backed debt securities 30  1  —  31 
Corporate debt securities 174  4  —  178 
Non-U.S. government debt securities 11  —  —  11 
Total available-for-sale marketable securities 396  8  —  404 
Total current marketable securities $ 398  $ 8  $ —  $ 406 
Amortized Cost and Estimated Fair Value of Marketable Securities by Contractual Maturity
The amortized cost and estimated fair value of marketable securities as of December 31, 2021, by contractual maturity, are shown below (in millions). Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations with or without prepayment penalties. 
Cost Estimated
Fair Value
Due in one year or less $ 31  $ 31 
Due after one year through three years 304  305 
Due after three years through five years —  — 
Due after five years —  — 
335  336 
Equity securities 2  2 
$ 337  $ 338 
Cash and Cash Equivalents and Restricted Cash A reconciliation of cash and cash equivalents and restricted cash from the consolidated balance sheets to the statements of consolidated cash flows is shown below (in millions):
December 31, 2021 December 31, 2020 December 31, 2019
Cash and cash equivalents $ 10,255  $ 5,910  $ 5,238 
Restricted cash —  —  — 
Total cash, cash equivalents and restricted cash $ 10,255  $ 5,910  $ 5,238 
Investments Measured at Fair Value on a Recurring Basis The following table presents information about our investments measured at fair value on a recurring basis as of December 31, 2021 and 2020, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions):
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		 Significant Other Observable
Inputs
(Level 2)		 Significant
Unobservable
Inputs
(Level 3)		 Total
2021
Marketable Securities:
U.S. government and agency debt securities $ 200  $ —  $ —  $ 200 
Mortgage and asset-backed debt securities —  7  —  7 
Corporate debt securities —  121  —  121 
U.S. state and local municipal debt securities 5  —  5 
Equity securities —  2  —  2 
Non-U.S. government debt securities —  3  —  3 
Total marketable securities 200  138  —  338 
Other non-current investments 23  —  —  23 
Total $ 223  $ 138  $ —  $ 361 
  Quoted Prices in
Active Markets 
for Identical
Assets
(Level 1)		 Significant Other
Observable Inputs
(Level 2)		 Significant
Unobservable
Inputs
(Level 3)		 Total
2020
Marketable Securities:
U.S. government and agency debt securities $ 184  $ —  $ —  $ 184 
Mortgage and asset-backed debt securities —  31  —  31 
Corporate debt securities —  178  —  178 
Equity securities —  2  —  2 
Non-U.S. government debt securities —  11  —  11 
Total marketable securities 184  222  —  406 
Other non-current investments 23  —  —  23 
Total $ 207  $ 222  $ —  $ 429 
Changes in Level 3 Instruments Measured on a Recurring Basis There were no material transfers of investments between Level 1 and Level 2 during 2021 or 2020.