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CASH, CASH EQUIVALENTS, AND INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2023

Cash and Cash Equivalents [Abstract]

Schedule of Available-For-Sale Securities Reconciliation

The amortized cost, gross unrealized gains and losses, and fair value of cash, cash equivalents, and marketable securities as of June 30, 2023 and December 31, 2022, are as follows (in millions):


	June 30, 2023
	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities
Cash	$	101	$	—	$	—	$	101	$	101	$	—

Money market funds	1,019		—		—		1,019		1,019		—

Corporate debt securities	73		—		(2)		71		—		71


Equity securities	18		—		—		18		—		18

Asset-backed securities	1		—		—		1		—		1


Total	$	1,212	$	—	$	(2)	$	1,210	$	1,120	$	90


	December 31, 2022
	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities
Cash	$	422	$	—	$	—	$	422	$	422	$	—
Money market funds	715		—		—		715		715		—

Corporate debt securities	126		—		(4)		122		—		122

Equity securities	11		—		—		11		—		11

Certificates of deposit	9		—		—		9		—		9
Asset-backed securities	2		—		—		2		—		2



Total	$	1,285	$	—	$	(4)	$	1,281	$	1,137	$	144

Schedule of Unrealized Loss on Investments

A summary of debt securities with unrealized losses aggregated by period of continuous unrealized loss is as follows (in millions):


	Less than 12 Months				12 Months or Greater				Total
June 30, 2023	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

Corporate debt securities	$	—	$	—	$	71	$	(2)	$	71	$	(2)


Asset-backed securities	—		—		1		—		1		—

Total	$	—	$	—	$	72	$	(2)	$	72	$	(2)


	Less than 12 Months				12 Months or Greater				Total
December 31, 2022	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

Corporate debt securities	$	5	$	—	$	117	$	(4)	$	122	$	(4)
Certificates of deposit	6		—		—		—		6		—

Asset-backed securities	—		—		2		—		2		—

Total	$	11	$	—	$	119	$	(4)	$	130	$	(4)

Scheduled Contractual Maturities of Marketable Securities

The scheduled contractual maturities of debt securities as of June 30, 2023 are as follows (in millions):


June 30, 2023	Fair Value		Within 1 Year		After 1 Year through 5 Years
Corporate debt securities	$	71	$	64	$	7


Asset-backed securities	1		1		—



Total	$	72	$	65	$	7

Schedule of Non- Marketable Equity Securities and Equity Method Investment

A summary of non-marketable equity securities and equity method investment balances as of June 30, 2023 and December 31, 2022 are as follows (in millions):


	June 30, 2023		December 31, 2022
Equity method investments	$	20	$	20
Non-marketable equity securities	5		5
Total	$	25	$	25