The fair values of cash equivalents and marketable securities classified as available-for-sale securities consist of the following (in millions):


	June 30, 2026
				Gross Unrealized
		Amortized Cost		Gains		Losses			Estimated Fair Value
Money market funds		$	60	$	—	$	—		$	60
Corporate bonds			276		—		(1	)		275
Commercial paper			4		—		—			4
U.S. Government Treasury and agency securities			32		—		—			32
Total		$	372	$	—	$	(1	)	$	371


	December 31, 2025
				Gross Unrealized
		Amortized Cost		Gains		Losses		Estimated Fair Value
Money market funds		$	320	$	—	$	—	$	320
Time deposits			10		—		—		10
Corporate bonds			263		—		—		263
Commercial paper			37		—		—		37
U.S. Government Treasury and agency securities			35		—		—		35
Total		$	665	$	—	$	—	$	665

At June 30, 2026, the remaining contractual maturities of available-for-sale securities were less than three years. The cost of securities sold is based on the specific-identification method. There have been no significant realized gains or losses on available-for-sale securities for the periods presented. All marketable securities with unrealized losses at June 30, 2026 have been in a loss position for less than 12 months or the loss is not material and is temporary in nature.

Accrued liabilities consist of the following (in millions):


	June 30,		December 31,
	2026		2025
Research and clinical study expenses	$	23	$	23
Payroll and related expenses		63		89
Revenue related reserves		72		57
Manufacturing and related expenses		42		67
Other		21		29
Total accrued liabilities	$	221	$	265