Note 4
Cash and equivalents, marketable securities and short-term investments

Current assets

Cash and equivalents and marketable securities and short-term investments consisted of the following:

December 31, 2017 ($ in millions)

Cost basis

Gross unrealized gains

Gross unrealized losses

Fair value

Cash and equivalents

Marketable securities and short-term investments

Cash

1,963

 

 

1,963

1,963

 

Time deposits

2,853

 

 

2,853

2,563

290

Other short-term investments

305

 

 

305

 

305

Debt securities available-for-sale:

 

 

 

 

 

 

— U.S. government obligations

127

(2)

125

125

— Other government obligations

2

2

2

— Corporate

215

1

(1)

215

215

Equity securities available-for-sale

152

13

165

165

Total

5,617

14

(3)

5,628

4,526

1,102

December 31, 2016 ($ in millions)

Cost basis

Gross unrealized gains

Gross unrealized losses

Fair value

Cash and equivalents

Marketable securities and short-term investments

Cash

1,704

 

 

1,704

1,704

 

Time deposits

2,764

 

 

2,764

1,940

824

Other short-term investments

271

 

 

271

 

271

Debt securities available-for-sale:

 

 

 

 

 

 

— U.S. government obligations

221

1

(2)

220

220

— Other government obligations

2

2

2

— Corporate

95

1

(1)

95

95

Equity securities available-for-sale

530

11

541

541

Total

5,587

13

(3)

5,597

3,644

1,953

Included in Other short-term investments at December 31, 2017 and 2016, are receivables of $305 million and $268 million, respectively, representing reverse repurchase agreements. These collateralized lendings, made to a financial institution, have maturity dates of less than one year.

Contractual maturities

Contractual maturities of debt securities consisted of the following:

 

Available-for-sale

Held-to-maturity

December 31, 2017 ($ in millions)

Cost basis

Fair value

Cost basis

Fair value

Less than one year

122

122

3

3

One to five years

161

160

71

77

Six to ten years

59

58

Due after ten years

2

2

Total

344

342

74

80

At December 31, 2017 and 2016, the Company pledged $66 million and $91 million, respectively, of available-for-sale marketable securities as collateral for issued letters of credit and other security arrangements.