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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis
The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of March 31, 2025:
(in millions)Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$29 $— $— $29 
Time deposits— 794 — 794 
Short-term investments:
Time deposits— — 
Equity investment security11 — — 11 
Other current assets:
Foreign exchange forward and option contracts
— — 
Other noncurrent assets:
Foreign exchange forward contracts— — 
Accrued expenses and other current liabilities:
Foreign exchange forward contracts
— (9)— (9)
Other noncurrent liabilities:
Foreign exchange forward contracts— (2)— (2)
The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2024:
(in millions)Level 1Level 2Level 3Total
Cash equivalents:
Money market funds$40 $— $— $40 
Time deposits— 991 — 991 
Short-term investments:
Time deposits— — 
Equity investment security11 — — 11 
Other current assets:
Foreign exchange forward contracts— — 
Accrued expenses and other current liabilities:
Foreign exchange forward contracts— (24)— (24)
Other noncurrent liabilities:
Foreign exchange forward contracts— (13)— (13)