v3.26.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Level Input and Input Definitions
Assets and liabilities recorded at fair value in the Consolidated Balance Sheets are categorized based upon observable or unobservable inputs used to estimate fair value. Level inputs are as follows:
Level Input:Input Definition:
Level IInputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date.
Level IIInputs other than quoted prices included in Level I that are observable for the asset or liability through corroboration with market data at the measurement date.
Level IIIUnobservable inputs that reflect management's best estimate of what market participants would use in pricing the asset or liability at the measurement date.
Schedule of Fair Value Measurements by Level for Assets Measured at Fair Value on a Recurring Basis
The following table summarizes fair value measurements by level at September 30, 2026, for assets and liabilities measured at fair value on a recurring basis ($ in millions):
Level ILevel IILevel IIITotal
Assets
Cash and cash equivalents$20,700 $— $— $20,700 
Investments:
U.S. Treasury securities and obligations of U.S. government corporations and agencies$53 $— $— $53 
Corporate securities— 10,141 — 10,141 
Municipal securities— 2,322 — 2,322 
Short-term time deposits— 72 — 72 
Asset-backed securities— 1,365 — 1,365 
Residential mortgage-backed securities— 1,499 — 1,499 
Commercial mortgage-backed securities— 997 — 997 
Equity securities— 1 — 1 
Total investments$53 $16,397 $— $16,450 
Restricted deposits:
Cash and cash equivalents$187 $— $— $187 
U.S. Treasury securities and obligations of U.S. government corporations and agencies506 — — 506 
Corporate securities— 39 — 39 
Certificates of deposit— 1 — 1 
Municipal securities— 737 — 737 
Total restricted deposits$693 $777 $— $1,470 
Total assets at fair value$21,446 $17,174 $— $38,620 
The following table summarizes fair value measurements by level at December 31, 2025, for assets and liabilities measured at fair value on a recurring basis ($ in millions):
Level ILevel IILevel IIITotal
Assets
Cash and cash equivalents$17,888 $— $— $17,888 
Investments:
U.S. Treasury securities and obligations of U.S. government corporations and agencies$55 $— $— $55 
Corporate securities— 10,652 — 10,652 
Municipal securities— 2,906 — 2,906 
Short-term time deposits— 205 — 205 
Asset-backed securities— 1,666 — 1,666 
Residential mortgage-backed securities— 1,714 — 1,714 
Commercial mortgage-backed securities— 1,136 — 1,136 
Equity securities— 1 — 1 
Total investments$55 $18,280 $— $18,335 
Restricted deposits:
Cash and cash equivalents$69 $— $— $69 
U.S. Treasury securities and obligations of U.S. government corporations and agencies480 — — 480 
Corporate securities— 10 — 10 
Certificates of deposit— 1 — 1 
Municipal securities— 852 — 852 
Total restricted deposits$549 $863 $— $1,412 
Total assets at fair value$18,492 $19,143 $— $37,635