XML 59 R20.htm IDEA: XBRL DOCUMENT
v3.22.2

Financial Instruments and Fair Value Measurements - (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Fair Value Disclosures [Abstract] |
Summary of Financial Instruments by Significant Categories and Fair Value Measurement on a Recurring Basis | The following tables summarize our financial instruments by significant categories and fair value measurement on a recurring basis as of June 30, 2022 and December 31, 2021 and the amortized cost, gross unrealized gains, gross unrealized losses, fair value of our AFS investments:
(in millions) | Fair Value Level | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Cash and Cash Equivalents | Investments | Restricted Cash, Cash Equivalents and Investments
June 30, 2022 |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market mutual funds | Level 1 | $ | 228 |  | $ | — |  | $ | — |  | $ | 228 |  | $ | 139 |  | $ | — |  | $ | 89 |
U.S. treasuries | Level 2 | 42 |  | — |  | — |  | 42 | 42 |  | — |  | — |
Total cash equivalents |  | 270 |  | — |  | — |  | 270 | 181 |  | — |  | 89 |
AFS Investments: |  |  |  |  |  |  |  |
Asset-backed securities | Level 2 | 46 |  | — |  | (2) |  | 44 |  | — |  | 44 |  | — |
Corporate bonds | Level 2 | 163 |  | — |  | (5) |  | 158 |  | — |  | 128 |  | 30 |
Agency securities | Level 2 | 23 |  | — |  | (1) |  | 22 |  | — |  | 4 |  | 18 |
U.S. treasuries | Level 2 | 271 |  | — |  | (8) |  | 263 |  | — |  | 94 |  | 169 |
Certificate of deposit | Level 2 | 9 |  | — |  | — |  | 9 |  | — |  |  | 9 |
Other debt securities | Level 2 | 9 |  | — |  | — |  | 9 |  | — |  | 9 |  | — |
Total AFS Investments |  | $ | 521 |  | $ | — |  | $ | (16) |  | $ | 505 |  | $ | — |  | $ | 279 |  | $ | 226 |
(in millions) | Fair Value Level | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Cash and Cash Equivalents | Investments | Restricted Cash, Cash Equivalents and Investments
December 31, 2021 |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market mutual funds | Level 1 | $ | 97 |  | $ | — |  | $ | — |  | $ | 97 |  | $ | 4 |  | $ | — |  | $ | 93 |
U.S. treasuries | Level 2 | 22 |  | — |  | — |  | 22 | 21 |  | — |  | 1 |
Total cash equivalents |  | 119 |  | — |  | — |  | 119 | 25 |  | — |  | 94 |
AFS Investments: |  |  |  |  |  |  |  |
Asset-backed securities | Level 2 | 49 |  | — |  | — |  | 49 |  | — |  | 49 |  | — |
Corporate bonds | Level 2 | 167 |  | 1 |  | (1) |  | 167 |  | — |  | 137 |  | 30 |
Agency securities | Level 2 | 17 |  | — |  | — |  | 17 |  | — |  | 2 |  | 15 |
U.S. treasuries | Level 2 | 285 |  | 1 |  | (1) |  | 285 |  | — |  | 106 |  | 179 |
Certificate of deposit | Level 2 | 11 |  | — |  | — |  | 11 |  | — |  | — |  | 11 |
Other debt securities | Level 2 | 9 |  | — |  | — |  | 9 |  | — |  | 9 |  | — |
Total AFS Investments |  | $ | 538 |  | $ | 2 |  | $ | (2) |  | $ | 538 |  | $ | — |  | $ | 303 |  | $ | 235 |
Fair value of debt investments by contractual maturity | The fair value of debt investments by contractual maturity are shown below:
(in millions) |  | June 30, 2022 |
One year or less |  | $ | 184 |  |
Over one year through five years |  | 284 |  |
Over five years through ten years |  | 11 |  |
Over ten years |  | 26 |  |
Total fair value |  | $ | 505 |  |
Schedule of available-for-sale securities | The gross proceeds from sales and maturities of AFS securities for the three and six months ended June 30, 2022 and June 30, 2021 are presented below. We had immaterial gross realized gains and losses from sales of investments for the three and six months ended June 30, 2022 and 2021.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2022 | 2021 |  | 2022 | 2021
Gross proceeds from sales | $ | 21 |  | $ | 39 |  |  | $ | 43 |  | $ | 80 |
Gross proceeds from maturities | 83 |  | 32 |  |  | 132 |  | 75 |
Total | $ | 104 |  | $ | 71 |  |  | $ | 175 |  | $ | 155 |

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration