v3.26.1
Cash, Cash Equivalents and Marketable Securities (Tables)
 3 Months Ended
Mar. 31, 2026
Cash, Cash Equivalents and Marketable Securities [Abstract]  
Summary of Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Our Cash, Cash Equivalents and Marketable Securities
The following table summarizes the amortized cost, gross unrealized gains and losses and the fair value of our cash, cash equivalents and marketable securities, all of which are considered available for sale, by type of securities (in millions):
Types of securities as of March 31, 2026
Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Fair
Value
Money market funds$171 $— $— $171 
U.S. treasury securities305 — — 305 
Corporate securities and commercial paper395 — (1)394 
Certificate of deposit6 — — 6 
Total cash, cash equivalents and marketable securities$877 $— $(1)$876 
Types of securities as of December 31, 2025
Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Fair
Value
Money market funds$155 $— $— $155 
U.S. treasury securities359 — — 359 
Corporate securities and commercial paper487 — — 487 
Certificate of deposit9 — — 9 
Total cash, cash equivalents and marketable securities$1,010 $— $— $1,010 
Summary of Fair Values of Our Cash, Cash Equivalents and Marketable Securities
The following table summarizes the fair values of our cash, cash equivalents and marketable securities by location in the Condensed Consolidated Balance Sheets and contractual maturity (in millions):
Location in Condensed Consolidated Balance SheetsContractual MaturityMarch 31, 2026December 31, 2025
Cash and cash equivalents—$201 $222 
Marketable securitiesWithin one year621 759 
Long-term marketable securitiesBetween one and three years54 29 
Total cash, cash equivalents and marketable securities $876 $1,010 
Summary of Cash, Cash Equivalents and Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash within the Condensed Consolidated Balance Sheets to the total shown in the Condensed Consolidated Statements of Cash Flows (in millions):
As of March 31,
20262025
Cash and cash equivalents$201 $192 
Restricted cash (included in Other noncurrent assets)3 3 
Total cash, cash equivalents and restricted cash$204 $195