v3.26.1
Cash, Cash Equivalents, Restricted Cash and Investments (Tables)
 3 Months Ended
Mar. 31, 2026
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
March 31,
2026		December 31,
2025
Cash and cash equivalents$273 $221 
Restricted cash, current (a)
2 1 
Restricted cash, long-term (b)
14 13 
Total cash, cash equivalents and restricted cash
$289 $235 
(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
March 31,
2026		December 31,
2025
Cash and cash equivalents$273 $221 
Restricted cash, current (a)
2 1 
Restricted cash, long-term (b)
14 13 
Total cash, cash equivalents and restricted cash
$289 $235 
(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 levelMarch 31,
2026		December 31,
2025
Cash and cash equivalents:
Bank depositsLevel 1$1 $1 
Money market funds
Level 1272 220 
U.S. Treasury securities
Level 2— — 
Commercial paper
Level 2— — 
Total cash and cash equivalents
$273 $221 
Short-term and long-term investments:
U.S. Treasury securities
Level 2$620 $766 
Commercial paper
Level 2
7 39 
Corporate bonds and notes
Level 2377 433 
Total short-term and long-term investments
$1,004 $1,238 
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 March 31, 2026
Amortized cost
Unrealized gains
Fair value
U.S. Treasury securities$620 $— $620 
Commercial paper
7 — 7 
Corporate bonds and notes
377 — 377 
  Total short-term and long-term investments
$1,004 $— $1,004 
As of December 31, 2025
Amortized cost
Unrealized gains
Fair value
U.S. Treasury securities$765 $1 $766 
Commercial paper
39 — 39 
Corporate bonds and notes
433 — 433 
  Total short-term and long-term investments
$1,237 $1 $1,238