The following tables present the Group’s assets and liabilities measured at fair value on a recurring basis: | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair value measured as of September 30, 2026 | | (in USD millions) | Total carrying value | | Quoted prices in active markets (Level 1) | | Significant other observable inputs
(Level 2) | | Significant unobservable inputs
(Level 3) | | Derivative assets | | | | | | | | Capped Call Transactions | $ | 384 | | | $ | — | | | $ | — | | | $ | 384 | | Interest-rate Swaps | 26 | | | — | | | 26 | | | — | | | Total derivative assets | $ | 410 | | | $ | — | | | $ | 26 | | | $ | 384 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | Fair value measured as of June 30, 2026 | | (in USD millions) | Total carrying value | | Quoted prices in active markets (Level 1) | | Significant other observable inputs
(Level 2) | | Significant unobservable inputs
(Level 3) | | Derivative assets | | | | | | | | Capped Call Transactions | $ | 412 | | | $ | — | | | $ | — | | | $ | 412 | | Interest-rate Swaps | 3 | | | — | | | 3 | | | — | | | Total derivative assets | $ | 415 | | | $ | — | | | $ | 3 | | | $ | 412 | |
Fair value of financial instruments not recognized at fair value The following tables present information about the Group’s financial instruments that are not recognized at fair value on the Condensed Consolidated Balance Sheets: | | | | | | | | | | | | | | | | | | | | | | | | | Fair value measured as of September 30, 2026 | | (in USD millions) | Total carrying value | | Quoted prices in active markets (Level 1) | | Significant other observable inputs
(Level 2) | | Significant unobservable inputs
(Level 3) | | Convertible Notes | $ | 6,657 | | | $ | 6,489 | | | $ | — | | | $ | — | | | USPP Senior Notes | 1,542 | | | — | | | 1,547 | | | — | | | GPU Financing | 1,284 | | | — | | | 1,292 | | | — | | | Total | $ | 9,483 | | | $ | 6,489 | | | $ | 2,839 | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | Fair value measured as of June 30, 2026 | | (in USD millions) | Total carrying value | | Quoted prices in active markets (Level 1) | | Significant other observable inputs
(Level 2) | | Significant unobservable inputs
(Level 3) | | Convertible Notes | $ | 6,653 | | | $ | 7,484 | | | $ | — | | | $ | — | | | USPP Senior Notes | 515 | | | — | | | 524 | | | — | | | Total | $ | 7,167 | | | $ | 7,484 | | | $ | 524 | | | $ | — | |
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