v3.26.3
Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurement
The following table summarizes certain fair value information at September 30, 2026 and December 31, 2025 for investment assets measured at fair value on a recurring basis, as well as the carrying amount and amortized cost of certain other investments: 
Fair Value Measurements Using
Carrying
Amount		CostQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Fair
Value
September 30, 2026
Cash equivalents(1)
$1,336 $1,336 $1,336 $— $— $1,336 
Short-term investments:
Available-for-sale debt securities(2)
$14 $14 $5 $9 $— $14 
Other securities60 60 — 20 40 60 
Short-term investments$74 
Noncurrent investments:
Available-for-sale debt securities(2)
$355 $380 $67 $288 $— $355 
Other securities84 54 — 1 83 84 
Marketable equity securities760 597 760 — — 760 
Equity investments without readily determinable fair values(3)
1,191 
Equity method investments(3)
1,623 
Noncurrent investments$4,013 
December 31, 2025
Cash equivalents(1)
$4,392 $4,392 $4,392 $— $— $4,392 
Short-term investments:
Available-for-sale debt securities(2)
$16 $16 $9 $7 $— $16 
Other securities89 89 — 12 78 89 
Short-term investments$105 
Noncurrent investments:
Available-for-sale debt securities(2)
$360 $368 $69 $291 $— $360 
Other securities85 54 — 2 83 85 
Marketable equity securities223 292 223 — — 223 
Equity investments without readily determinable fair values(3)
846 
Equity method investments(3)
1,288 
Noncurrent investments$2,802 
(1) We consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents. The cost of these investments approximates fair value.
(2) For available-for-sale debt securities, amounts disclosed represent the securities' amortized cost.
(3) Fair value disclosures are not applicable for equity method investments and investments accounted for under the measurement alternative for equity investments.
Schedule of Long-Term Notes
Below are the details of our issuance of long-term debt in 2026. The cash proceeds were used for general corporate purposes, including the repayment of outstanding commercial paper and the funding of a portion of the upfront cash consideration and related fees and expenses payable in connection with our acquisitions of Centessa and Kelonia.
Date of IssuanceAmountMaturity
Stated Interest Rate
May 2026$9,000 2028-2066
4.150%-5.700%(1)
(1) Included in the 2028 and 2029 tranches are an aggregate $1.3 billion of floating-rate notes, with interest reset and paid quarterly using Secured Overnight Financing Rate (SOFR) plus 0.350 and 0.460 percent, respectively.
Schedule of Short-term and Long-term Classification and Contingent Consideration Liabilities
The following table summarizes the carrying amount and fair value using Level 2 inputs for our long-term debt:
September 30, 2026December 31, 2025
Carrying
Amount		Fair ValueCarrying
Amount		Fair Value
Long-term debt, including current portion$49,503 $43,687 $42,503 $39,799 
The following table summarizes the fair value for our contingent consideration liabilities:
September 30, 2026December 31, 2025
Other current liabilities$818 $34 
Other noncurrent liabilities2,070 217 
Schedule of Significant Foreign Currency Contracts The following table summarizes the aggregate outstanding notional amounts of our foreign currency forward contracts in U.S. dollar equivalent:
September 30, 2026December 31, 2025
PurchaseSellPurchaseSell
Designated as accounting hedges$5,712 $— $67 $— 
Not designated as accounting hedges11,438 7,969 14,281 9,264 
Schedule of Effects of Significant Risk-Management Programs
The following table summarizes the effects of significant hedging activity on our consolidated condensed financial statements:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Recognized in other–net, (income) expense:
Foreign currency forward contracts not designated as accounting hedges$163 $170 $13 $(468)
Recognized in other comprehensive income (loss):
Foreign currency-denominated notes:
Designated as accounting hedges37 6 168 (683)
Foreign currency forward contracts:
Designated as accounting hedges14 1 (16)(1,292)