PARTIV Note8—FundsReceivableandCustomerAccountsandInvestments PayPalHoldings,Inc. NotestoConsolidatedFinancialStatements—(Continued) (1) December31,2021 Gross Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value (In millions) Fundsreceivableandcustomeraccounts: U.S. governmentandagencysecurities $ 8,754 $ — $ (31) $ 8,723 Foreigngovernmentandagencysecurities 1,849 — (9) 1,840 Corporatedebtsecurities 3,377 — (15) 3,362 Asset-backedsecurities 1,552 — (3) 1,549 Municipalsecurities 535 — — 535 Short-terminvestments: U.S. governmentandagencysecurities 537 — — 537 Foreigngovernmentandagencysecurities 493 — (1) 492 Corporatedebtsecurities 2,285 — — 2,285 Asset-backedsecurities 278 — (1) 277 Long-terminvestments: U.S. governmentandagencysecurities 568 — (6) 562 Foreigngovernmentandagencysecurities 742 — (6) 736 Corporatedebtsecurities 1,445 — (11) 1,434 Asset-backedsecurities 817 — (4) 813 (2) $ 23,232 $ — $ (87) $ 23,145 TOTALAVAILABLE-FOR-SALEDEBTSECURITIES (1) “—”Denotesgrossunrealizedgainorunrealizedlossoflessthan$1millioninagivenposition. (2) Excludesforeigncurrencydenominatedavailable-for-saledebtsecuritiesaccountedforunderthefairvalueoption.Referto“Note9—FairValueMeasurementofAssetsand Liabilities.” Gross amortized cost and estimated fair value balances exclude accrued interest receivable on available-for-sale debt securities, which totaled $65 million and $36 million at December 31, 2022 and 2021, respectively, and were included in othercurrentassetsonourconsolidatedbalancesheets. 86 •2022AnnualReport