| CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES |
CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES
The following tables categorize the fair values of cash, cash equivalents, and marketable securities measured at fair value on a recurring basis on our balance sheet (in millions): | | | | | | | | | | | | | | | | | | | | | | September 30, 2016 | | Fair Value Level | | Automotive | | Financial Services | | All Other | | Consolidated | Cash and cash equivalents | | | | | | | | | | U.S. government | 1 | | $ | 599 |
| | $ | — |
| | $ | — |
| | $ | 599 |
| U.S. government agencies | 2 | | — |
| | 4 |
| | — |
| | 4 |
| Non-U.S. government and agencies | 2 | | 551 |
| | 280 |
| | — |
| | 831 |
| Corporate debt | 2 | | 60 |
| | 50 |
| | — |
| | 110 |
| Total marketable securities classified as cash equivalents | | | 1,210 |
| | 334 |
| | — |
| | 1,544 |
| Cash, time deposits, and money market funds | | | 6,445 |
| | 5,341 |
| | 10 |
| | 11,796 |
| Total cash and cash equivalents | | | $ | 7,655 |
| | $ | 5,675 |
| | $ | 10 |
| | $ | 13,340 |
| | | | | | | | | | | Marketable securities | | | | | | | | | | U.S. government | 1 | | $ | 3,982 |
| | $ | 1,724 |
| | $ | — |
| | $ | 5,706 |
| U.S. government agencies | 2 | | 3,284 |
| | 1,354 |
| | — |
| | 4,638 |
| Non-U.S. government and agencies | 2 | | 5,423 |
| | 520 |
| | — |
| | 5,943 |
| Corporate debt | 2 | | 3,709 |
| | 540 |
| | — |
| | 4,249 |
| Equities | 1 | | 198 |
| | — |
| | — |
| | 198 |
| Other marketable securities | 2 | | 49 |
| | 42 |
| | — |
| | 91 |
| Total marketable securities | | | $ | 16,645 |
| | $ | 4,180 |
| | $ | — |
| | $ | 20,825 |
| | | | | | | | | | | | | | December 31, 2015 | | Fair Value Level | | Automotive | | Financial Services | | All Other | | Consolidated | Cash and cash equivalents | | | | | | | | | | U.S. government | 1 | | $ | 115 |
| | $ | — |
| | $ | — |
| | $ | 115 |
| U.S. government agencies | 2 | | 22 |
| | — |
| | — |
| | 22 |
| Non-U.S. government and agencies | 2 | | 173 |
| | 266 |
| | — |
| | 439 |
| Corporate debt | 2 | | 20 |
| | — |
| | — |
| | 20 |
| Total marketable securities classified as cash equivalents | | | 330 |
| | 266 |
| | — |
| | 596 |
| Cash, time deposits, and money market funds | | | 5,056 |
| | 8,620 |
| | — |
| | 13,676 |
| Total cash and cash equivalents | | | $ | 5,386 |
| | $ | 8,886 |
| | $ | — |
| | $ | 14,272 |
| | | | | | | | | | | Marketable securities | | | | | | | | | | U.S. government | 1 | | $ | 1,623 |
| | $ | 298 |
| | $ | — |
| | $ | 1,921 |
| U.S. government agencies | 2 | | 5,240 |
| | 1,169 |
| | — |
| | 6,409 |
| Non-U.S. government and agencies | 2 | | 7,451 |
| | 832 |
| | — |
| | 8,283 |
| Corporate debt | 2 | | 3,279 |
| | 384 |
| | — |
| | 3,663 |
| Equities | 1 | | 240 |
| | — |
| | — |
| | 240 |
| Other marketable securities | 2 | | 348 |
| | 40 |
| | — |
| | 388 |
| Total marketable securities | | | $ | 18,181 |
| | $ | 2,723 |
| | $ | — |
| | $ | 20,904 |
|
NOTE 4. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES (Continued)
The following tables present cash equivalents and marketable securities accounted for as available-for-sale (“AFS”) securities on our balance sheet (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2016 | | | | | | | | | | Fair Value of Securities with Contractual Maturities: | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Less than 1 Year | | 1-5 Years | Automotive | | | | | | | | | | | | U.S. government | $ | 447 |
| | $ | — |
| | $ | — |
| | $ | 447 |
| | $ | — |
| | $ | 447 |
| U.S. government agencies | 100 |
| | — |
| | — |
| | 100 |
| | — |
| | 100 |
| Non-U.S. government and agencies | 77 |
| | — |
| | — |
| | 77 |
| | — |
| | 77 |
| Corporate debt | 337 |
| | — |
| | — |
| | 337 |
| | 247 |
| | 90 |
| Total | $ | 961 |
| | $ | — |
| | $ | — |
| | $ | 961 |
| | $ | 247 |
| | $ | 714 |
| | | | | | | | |
| | | | | | December 31, 2015 | | | | | | | | | | Fair Value of Securities with Contractual Maturities: | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | Less than 1 Year | | 1-5 Years | Automotive | | | | | | | | | | | | U.S. government | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| U.S. government agencies | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Non-U.S. government and agencies | 82 |
| | — |
| | (12 | ) | | 70 |
| | — |
| | 70 |
| Corporate debt | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total | $ | 82 |
| | $ | — |
| | $ | (12 | ) | | $ | 70 |
| | $ | — |
| | $ | 70 |
|
Sales proceeds for investments classified as AFS and sold prior to maturity were $69 million and $0 for the nine months ended September 30, 2016 and 2015, respectively. Gross realized gains from the sale of AFS securities were $1 million and $0 for the nine months ended September 30, 2016 and 2015, respectively. There were no gross realized losses from the sale of AFS securities for the nine months ended September 30, 2016 and 2015.
We determine other-than-temporary impairments on cash equivalents and marketable securities using a specific identification method. During the nine months ended September 30, 2016 and 2015, we did not recognize any other-than-temporary impairment loss. |