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FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Financial assets and liabilities measured at fair value on a recurring basis are classified in the categories described in the table below:
(in millions)Level 1Level 2Total
June 30, 2025
ASSETS:
Money market fund investments and certificates of deposit (1)
$16,271 $— $16,271 
Investments in equity securities415 — 415 
Foreign currency exchange derivatives— 83 83 
LIABILITIES:
Foreign currency exchange derivatives$— $88 $88 
December 31, 2024
ASSETS:
Money market fund investments and certificates of deposit (1)
$14,926 $— $14,926 
Investments in equity securities391 — 391 
Foreign currency exchange derivatives— 70 70 
LIABILITIES:
Foreign currency exchange derivatives$— $93 $93 
Embedded derivative liability— 1,300 1,300 
(1)    Primarily consists of money market fund investments.
Effect of Foreign Currency Exchange Derivatives
The effect of foreign currency exchange derivatives recorded in "Other income (expense), net" in the Unaudited Consolidated Statements of Operations is as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
(in millions)2025202420252024
(Losses) gains on foreign currency exchange derivatives
$(5)$(77)$54 $(162)