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INVESTMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule 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 September 30, 2025 and December 31, 2024 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
September 30, 2025 |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market mutual funds | Level 1 | $ | 172 |  | $ | — |  | $ | — |  | $ | 172 |  | $ | 86 |  | $ | — |  | $ | 86 |
U.S. treasuries | Level 2 | 7 |  | — |  | — |  | 7 |  | — |  | — |  | 7 |
Total cash equivalents |  | 179 |  | — |  | — |  | 179 | 86 |  | — |  | 93 |
AFS Investments: |  |  |  |  |  |  |  |
Corporate bonds | Level 2 | 34 |  | — |  | — |  | 34 |  | — |  | — |  | 34 |
Agency securities | Level 2 | 11 |  | — |  | — |  | 11 |  | — |  | — |  | 11 |
U.S. treasuries | Level 2 | 161 |  | 2 |  | — |  | 163 |  | — |  | — |  | 163 |
Total AFS Investments |  | $ | 206 |  | $ | 2 |  | $ | — |  | $ | 208 |  | $ | — |  | $ | — |  | $ | 208 |
(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, 2024 |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market mutual funds | Level 1 | $ | 570 |  | $ | — |  | $ | — |  | $ | 570 |  | $ | 257 |  | $ | — |  | $ | 313 |
U.S. treasuries | Level 2 | 1 |  | — |  | — |  | 1 | — |  | — |  | 1 |
Total cash equivalents |  | 571 |  | — |  | — |  | 571 | 257 |  | — |  | 314 |
AFS Investments: |  |  |  |  |  |  |  |
Corporate bonds | Level 2 | 35 |  |  | — |  | 35 |  | — |  |  | 35 |
Agency securities | Level 2 | 18 |  | — |  | (1) |  | 17 |  | — |  |  | 17 |
U.S. treasuries | Level 2 | 176 |  |  | (2) |  | 174 |  | — |  |  | 174 |
Certificate of deposit | Level 2 | 1 |  | — |  | — |  | 1 |  | — |  | — |  | 1 |
Total AFS Investments |  | $ | 230 |  | $ | — |  | $ | (3) |  | $ | 227 |  | $ | — |  | $ | — |  | $ | 227 |
Schedule of Fair value of Debt Investments by Contractual Maturity | The fair value of debt investments by contractual maturity are shown below:
(in millions) |  | September 30, 2025
One year or less |  | $ | 17 |
Over one year through five years |  | 185 |
Over five years through ten years |  | 6 |
Over ten years |  | — |
Total fair value |  | $ | 208 |
Schedule of Available-for-Sale Securities | The gross proceeds from sales and maturities of AFS securities and gross realized losses for the three and nine months ended September 30, 2025 and 2024 are presented below. We had immaterial gross realized gains from sales of investments for the three and nine months ended September 30, 2025 and 2024.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2025 | 2024 |  | 2025 | 2024
Gross proceeds from sales | $ | 14 |  | $ | 31 |  |  | $ | 76 |  | $ | 93 |
Gross proceeds from maturities | 2 |  | 39 |  |  | 6 |  | 103 |

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- 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 -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 + Details
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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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