The following tables summarize the investments of our insurance subsidiaries measured at fair value on a recurring basis as of September 30, 2026 and December 31, 2025, aggregated by the level in the fair value hierarchy within which those measurements fall (dollars in millions):
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September 30, 2026 |
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Fair Value Measurements Using |
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Fair Value |
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Quoted Prices in
Active Markets for
Identical Assets
(Level 1) |
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Significant Other
Observable Inputs
(Level 2) |
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Significant
Unobservable Inputs
(Level 3) |
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Debt securities |
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$ |
317 |
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$ |
1 |
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$ |
316 |
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$ |
— |
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Money market funds and other |
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257 |
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257 |
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— |
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— |
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Investments of insurance subsidiaries |
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574 |
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258 |
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316 |
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— |
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Less amounts classified as current assets |
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(111 |
) |
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(111 |
) |
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— |
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— |
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$ |
463 |
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$ |
147 |
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$ |
316 |
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$ |
— |
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NOTE 6 — ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (continued)
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December 31, 2025 |
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Fair Value Measurements Using |
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Fair Value |
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Quoted Prices in
Active Markets for
Identical Assets
(Level 1) |
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Significant Other
Observable Inputs
(Level 2) |
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Significant
Unobservable Inputs
(Level 3) |
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Debt securities |
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$ |
328 |
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$ |
1 |
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$ |
327 |
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$ |
— |
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Money market funds and other |
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|
260 |
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260 |
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— |
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— |
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Investments of insurance subsidiaries |
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|
588 |
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|
261 |
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|
327 |
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— |
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Less amounts classified as current assets |
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(103 |
) |
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(103 |
) |
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— |
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— |
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$ |
485 |
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$ |
158 |
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$ |
327 |
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$ |
— |
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