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Assets and Liabilities Measured at Fair Value (Tables)
 3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize the investments of our insurance subsidiaries measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022, aggregated by the level in the fair value hierarchy within which those measurements fall (dollars in millions):

 

 

March 31, 2023

 

 

 

 

 

Fair Value Measurements Using

 

 

Fair Value

 

 

Quoted Prices in
Active Markets for
Identical Assets
and Liabilities
(Level 1)

 

 

Significant Other
Observable Inputs
(Level 2)

 

 

Significant
Unobservable Inputs
(Level 3)

 

Investments of insurance subsidiaries:

 

 

 

 

 

 

 

 

 

 

 

 

Debt securities

 

$

384

 

 

$

—

 

 

$

384

 

 

$

—

 

Money market funds and other

 

 

102

 

 

 

102

 

 

 

—

 

 

 

—

 

Investments of insurance subsidiaries

 

 

486

 

 

 

102

 

 

 

384

 

 

 

—

 

Less amounts classified as current assets

 

 

(96

)

 

 

(96

)

 

 

—

 

 

 

—

 

 

$

390

 

 

$

6

 

 

$

384

 

 

$

—

 

 

 

 

December 31, 2022

 

 

 

 

 

Fair Value Measurements Using

 

 

Fair Value

 

 

Quoted Prices in
Active Markets for
Identical Assets
and Liabilities
(Level 1)

 

 

Significant Other
Observable Inputs
(Level 2)

 

 

Significant
Unobservable Inputs
(Level 3)

 

Investments of insurance subsidiaries:

 

 

 

 

 

 

 

 

 

 

 

 

Debt securities

 

$

377

 

 

$

—

 

 

$

377

 

 

$

—

 

Money market funds and other

 

 

96

 

 

 

96

 

 

 

—

 

 

 

—

 

Investments of insurance subsidiaries

 

 

473

 

 

 

96

 

 

 

377

 

 

 

—

 

Less amounts classified as current assets

 

 

(92

)

 

 

(92

)

 

 

—

 

 

 

—

 

 

$

381

 

 

$

4

 

 

$

377

 

 

$

—