Quarterly report pursuant to Section 13 or 15(d)

Cash, Cash Equivalents and Investments (Tables)

v3.24.3
Cash, Cash Equivalents and Investments (Tables)
 9 Months Ended
Sep. 30, 2024
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
September 30,
2024		 December 31,
2023
Cash and cash equivalents $ 263  $ 501 
Restricted cash, current (a)
1  1 
Restricted cash, long-term (b)
15  16 
Total cash, cash equivalents and restricted cash
 $ 279  $ 518 
(a) Included in other current assets on the condensed consolidated balance sheets
(b) Included in other assets on the condensed consolidated balance sheets
Schedule of Cash, Cash Equivalents and Restricted Cash
Cash, cash equivalents and restricted cash were as follows (in millions):
As of
September 30,
2024		 December 31,
2023
Cash and cash equivalents $ 263  $ 501 
Restricted cash, current (a)
1  1 
Restricted cash, long-term (b)
15  16 
Total cash, cash equivalents and restricted cash
 $ 279  $ 518 
(a) Included in other current assets on the condensed consolidated balance sheets
(b) Included in other assets on the condensed 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 September 30,
2024		 December 31,
2023
Cash and cash equivalents:
Bank deposits Level 1 $ 1  $ — 
Money market funds
 Level 1 227  220 
U.S. Treasury securities
 Level 2 20  251 
Commercial paper
 Level 2 15  30 
Total cash and cash equivalents
 $ 263  $ 501 
Short-term and long-term investments:
U.S. Treasury securities
 Level 2 $ 808  $ 769 
Commercial paper
Level 2
 124  54 
Corporate bonds and notes
 Level 2 157  24 
Total short-term and long-term investments
 $ 1,089  $ 847 
Schedule of Debt Securities, Available-for-Sale
The amortized cost, unrealized gains, and fair value of available-for-sale debt securities were as follows (in millions):
As of September 30, 2024
Amortized cost
Unrealized gains
 Fair value
U.S. Treasury securities $ 806  $ 2  $ 808 
Commercial paper
 124  —  124 
Corporate bonds and notes
 157  —  157 
  Total short-term and long-term investments
 $ 1,087  $ 2  $ 1,089 
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