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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Assets Measured on Recurring Basis | Our financial instruments measured at fair value on a recurring basis at March 31, 2025, were as follows:
|  |  | Observable Inputs |  | Directly or Indirectly Observable Inputs |  | Unobservable Inputs
| Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
| (In millions)
Corporate debt securities | $ | 2,751 |  |  | $ | — |  |  | $ | 2,751 |  |  | $ | — |
Mortgage-backed securities | 983 |  |  | — |  |  | 983 |  |  | — |
Asset-backed securities | 441 |  |  | — |  |  | 441 |  |  | — |
Municipal securities | 210 |  |  | — |  |  | 210 |  |  | — |
U.S. Treasury notes | 5 |  |  | — |  |  | 5 |  |  | — |
Other | 48 |  |  | — |  |  | 48 |  |  | — |
Total assets | $ | 4,438 |  |  | $ | — |  |  | $ | 4,438 |  |  | $ | — |
Our financial instruments measured at fair value on a recurring basis at December 31, 2024, were as follows:
|  |  | Observable Inputs |  | Directly or Indirectly Observable Inputs |  | Unobservable Inputs
| Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
| (In millions)
Corporate debt securities | $ | 2,744 |  |  | $ | — |  |  | $ | 2,744 |  |  | $ | — |
Mortgage-backed securities | 914 |  |  | — |  |  | 914 |  |  | — |
Asset-backed securities | 431 |  |  | — |  |  | 431 |  |  | — |
Municipal securities | 183 |  |  | — |  |  | 183 |  |  | — |
U.S. Treasury notes | 5 |  |  | — |  |  | 5 |  |  | — |
Other | 48 |  |  | — |  |  | 48 |  |  | — |
Total assets | $ | 4,325 |  |  | $ | — |  |  | $ | 4,325 |  |  | $ | — |
Schedule of Fair Value Measurements of Senior Notes |
| March 31, 2025 |  | December 31, 2024
| Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
| (In millions)
4.375% Notes due 2028 | $ | 796 |  |  | $ | 763 |  |  | $ | 795 |  |  | $ | 759 |
3.875% Notes due 2030 | 645 |  |  | 581 |  |  | 645 |  |  | 578 |
3.875% Notes due 2032 | 743 |  |  | 658 |  |  | 743 |  |  | 648 |
6.250% Notes due 2033 | 740 |  |  | 740 |  |  | 740 |  |  | 741 |
Term Loan | 500 |  |  | 500 |  |  | — |  |  | — |
Credit Facility | 150 |  |  | 150 |  |  | — |  |  | — |
Total | $ | 3,574 |  |  | $ | 3,392 |  |  | $ | 2,923 |  |  | $ | 2,726 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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