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Fair Value Measurements
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
We consider the carrying amounts of current assets and current liabilities to approximate their fair values because of the relatively short period of time between the origination of these instruments and their expected realization or payment. For our financial instruments measured at fair value on a recurring basis, we prioritize the inputs used in measuring fair value according to the three-tier fair value hierarchy. For a description of the methods and assumptions used to: a) estimate the fair value; and b) determine the classification according to the fair value hierarchy for each financial instrument, refer to our 2023 Annual Report on Form 10-K, Note 5, “Fair Value Measurements.”
Our financial instruments measured at fair value on a recurring basis at June 30, 2024, were as follows:
Observable InputsDirectly or Indirectly Observable InputsUnobservable Inputs
Total(Level 1) (Level 2) (Level 3)
 (In millions)
Corporate debt securities$2,801 $— $2,801 $— 
Mortgage-backed securities924 — 924 — 
Asset-backed securities383 — 383 — 
Municipal securities186 — 186 — 
U.S. Treasury notes9 — 9 — 
Other
44 — 44 — 
Total assets$4,347 $— $4,347 $— 
Our financial instruments measured at fair value on a recurring basis at December 31, 2023, were as follows:
Observable InputsDirectly or Indirectly Observable InputsUnobservable Inputs
Total(Level 1)(Level 2)(Level 3)
 (In millions)
Corporate debt securities$2,732 $— $2,732 $— 
Mortgage-backed securities911 — 911 — 
Asset-backed securities365 — 365 — 
Municipal securities166 — 166 — 
U.S. Treasury notes40 — 40 — 
Other
45 — 45 — 
Total assets $4,259 $— $4,259 $— 
Fair Value Measurements – Disclosure Only
The carrying amounts and estimated fair values of our notes payable are classified as Level 2 financial instruments. Fair value for these securities is determined using a market approach based on quoted market prices for similar securities in active markets or quoted prices for identical securities in inactive markets.
 June 30, 2024December 31, 2023
 Carrying
Amount		Fair Value Carrying
Amount		Fair Value
 (In millions)
4.375% Notes due 2028
$794 $752 $794 $757 
3.875% Notes due 2030
644 576 644 583 
3.875% Notes due 2032
743 647 742 654 
Total$2,181 $1,975 $2,180 $1,994