Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2026

The following tables present substantially all of our financial

assets that were measured at fair value on a recurring basis as

of September 30, 2026 and December 31, 2025.


	September 30, 2026
	Total	Level 1	Level 2	Level 3
	(in millions)
European government debt securities	$151	$151	$—	$—
Total short-term investments	$151	$151	$—	$—

Corporate debt securities	100	—	—	100
Equity securities	10	10	—	—
Total assets at fair value	$261	$161	$—	$100
	December 31, 2025
	Total	Level 1	Level 2	Level 3
	(in millions)
European government debt securities	$28	$28	$—	$—
Total short-term investments	$28	$28	$—	$—
Equity securities	25	25	—	—
Total assets at fair value	$53	$53	$—	$—