Annual report pursuant to Section 13 and 15(d)

Cash, Cash Equivalents and Investments (Tables)

v3.24.1.1.u2
Cash, Cash Equivalents and Investments (Tables)
 12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Cash, Cash Equivalents and Restricted Cash
Cash, cash equivalents and restricted cash were as follows (in millions):
As of
December 31,
2023		 December 31,
2022
Cash and cash equivalents $ 501  $ 262 
Restricted cash, current (a)
1  — 
Restricted cash, long-term (b)
16  15 
Total cash, cash equivalents and restricted cash
 $ 518  $ 277 
(a) Included in other current assets on the consolidated balance sheets
(b) Included in other assets on the consolidated balance sheets
Schedule of Cash, Cash Equivalents and Restricted Cash
Cash, cash equivalents and restricted cash were as follows (in millions):
As of
December 31,
2023		 December 31,
2022
Cash and cash equivalents $ 501  $ 262 
Restricted cash, current (a)
1  — 
Restricted cash, long-term (b)
16  15 
Total cash, cash equivalents and restricted cash
 $ 518  $ 277 
(a) Included in other current assets on the consolidated balance sheets
(b) Included in other assets on the consolidated balance sheets
Schedule of Fair Value, Assets Measured on Recurring Basis
The components of cash, cash equivalents, short-term investments and long-term investments measured at fair value on a recurring basis were as follows (in millions):
As of
Fair value level December 31,
2023		 December 31,
2022
Cash and cash equivalents:
Bank deposits Level 1 $ —  $ 1 
Money market funds
 Level 1 220  204 
U.S. Treasury securities
 Level 2 251  57 
Commercial Paper
 Level 2 30  — 
Total cash and cash equivalents
 $ 501  $ 262 
Short-term and long-term investments:
U.S. Treasury securities
 Level 2 $ 769  $ 839 
Commercial Paper
Level 2
 54  — 
Corporate Bonds and Notes
 Level 2 24  — 
Total short-term and long-term investments
 $ 847  $ 839 
Schedule of Debt Securities, Available-for-Sale
The amortized cost, unrealized gains and losses, and fair value of available-for-sale debt securities were as follows (in millions):
As of December 31, 2023
Amortized cost
Unrealized gains
 Fair value
U.S. Treasury securities $ 768  $ 1  $ 769 
Commercial Paper
 54  —  54 
Corporate Bonds and Notes
 24  —  24 
  Total short-term and long-term investments
 $ 846  $ 1  $ 847 
As of December 31, 2022
Amortized cost Unrealized losses Fair value
U.S. Treasury securities $ 841  $ (2) $ 839