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Cash, Cash Equivalents, Restricted Cash and Investments (Tables) | 6 Months Ended
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Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Cash, Cash Equivalents and Restricted Cash | Cash, cash equivalents and restricted cash were as follows (in millions):
|  | As of |
|  | June 30, 2025 |  | December 31, 2024 |
Cash and cash equivalents |  | $ | 206 |  |  | $ | 211 |  |
Restricted cash, current (a) |  | 1 |  |  | 1 |  |
Restricted cash, long-term (b) |  | 15 |  |  | 15 |  |
Total cash, cash equivalents and restricted cash |  | $ | 222 |  |  | $ | 227 |  |
(a) Included in other current assets on the condensed consolidated balance sheets (b) Included in other assets on the condensed consolidated balance sheets
Schedule of Cash, Cash Equivalents and Restricted Cash | Cash, cash equivalents and restricted cash were as follows (in millions):
|  | As of |
|  | June 30, 2025 |  | December 31, 2024 |
Cash and cash equivalents |  | $ | 206 |  |  | $ | 211 |  |
Restricted cash, current (a) |  | 1 |  |  | 1 |  |
Restricted cash, long-term (b) |  | 15 |  |  | 15 |  |
Total cash, cash equivalents and restricted cash |  | $ | 222 |  |  | $ | 227 |  |
(a) Included in other current assets on the condensed consolidated balance sheets (b) Included in other assets on the condensed consolidated balance sheets
Schedule of Fair Value, Assets Measured on Recurring Basis | The components of cash, cash equivalents, and short-term investments measured at fair value on a recurring basis were as follows (in millions):
|  |  | As of |
| Fair value level |  | June 30, 2025 |  | December 31, 2024 |
Cash and cash equivalents: |  |  |  |  |  |
Bank deposits | Level 1 |  | $ | 1 |  |  | $ | 1 |  |
Money market funds | Level 1 |  | 190 |  |  | 165 |  |
U.S. Treasury securities | Level 2 |  | 13 |  |  | 40 |  |
Commercial paper | Level 2 |  | 2 |  |  | 5 |  |
Total cash and cash equivalents |  |  | $ | 206 |  |  | $ | 211 |  |
Short-term investments: |  |  |  |  |  |
U.S. Treasury securities | Level 2 |  | $ | 801 |  |  | $ | 728 |  |
Commercial paper | Level 2 |  | 108 |  |  | 132 |  |
Corporate bonds and notes | Level 2 |  | 194 |  |  | 152 |  |
Total short-term investments |  |  | $ | 1,103 |  |  | $ | 1,012 |  |
Schedule of Debt Securities, Available-for-Sale | The amortized cost, unrealized gains, and fair value of available-for-sale debt securities were as follows (in millions):
|  | As of June 30, 2025 |
|  | Amortized cost |  | Unrealized gains |  | Fair value |
U.S. Treasury securities |  | $ | 801 |  |  | $ | — |  |  | $ | 801 |  |
Commercial paper |  | 108 |  |  | — |  |  | 108 |  |
Corporate bonds and notes |  | 194 |  |  | — |  |  | 194 |  |
Total short-term investments |  | $ | 1,103 |  |  | $ | — |  |  | $ | 1,103 |  |
|  | As of December 31, 2024 |
|  | Amortized cost |  | Unrealized gains |  | Fair value |
U.S. Treasury securities |  | $ | 727 |  |  | $ | 1 |  |  | $ | 728 |  |
Commercial paper |  | 132 |  |  | — |  |  | 132 |  |
Corporate bonds and notes |  | 152 |  |  | — |  |  | 152 |  |
Total short-term investments |  | $ | 1,011 |  |  | $ | 1 |  |  | $ | 1,012 |  |

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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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