v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 211 $ 65
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 4 5
Amortization of right-of-use assets 3 5
Stock-based compensation 20 14
Impairment of tangible and intangible assets 8 0
Loss on debt extinguishment 18 0
Unrealized loss on equity investments 0 1
Deferred income taxes 52 7
Impact from foreign exchange movements 1 (5)
Amortization of debt issuance costs 1 0
Other adjustments, net 0 1
Change in operating assets and liabilities:    
Accounts receivable (17) 15
Current inventories 3 22
Other current and noncurrent assets (35) 31
Accrued legal and settlement expenses (37) (60)
Other current and noncurrent liabilities (13) 131
Net cash provided by operating activities 220 233
Cash flows from investing activities:    
Purchases of property and equipment (27) (22)
Purchases of in-process research and development and intangible assets 0 (1)
Purchases of investments in debt securities (8) (11)
Sales and maturities of debt securities 9 11
Net cash used in investing activities (27) (22)
Cash flows from financing activities:    
Proceeds from the issuance of common stock 0 1
Cash paid for repurchases of common stock (302) (11)
Proceeds from debt, net 489 0
Repayments of debt (333) (8)
Transaction costs related to debt refinancing (5) 0
Settlement of equity awards (21) (3)
Other 5 0
Net cash used in financing activities (166) (22)
Net increase in cash and cash equivalents 28 189
Exchange differences 0 1
Cash and cash equivalents at beginning of period 195 319
Cash and cash equivalents at end of period $ 222 $ 510