Cash, Cash Equivalents and Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2024

Cash, Cash Equivalents and Marketable Securities [Abstract]

Schedule of Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Our Cash, Cash Equivalents and Marketable Securities Considered as Available for Sale by Type of Securities

The following table summarizes the amortized cost, gross unrealized gains and losses and the fair value of our cash, cash equivalents and marketable securities, all of which are considered available for sale, by type of securities (in millions):

Types of securities as of June 30, 2024	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Money market funds	$	122	$	—	$	—	$	122
U.S. treasury securities	302		—		(1)		301
Corporate securities and commercial paper	547		—		—		547
U.S. government agency securities	22		—		—		22
Certificate of deposit	17		—		—		17
Total cash, cash equivalents and marketable securities	$	1,010	$	—	$	(1)	$	1,009

Types of securities as of December 31, 2023	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Money market funds	$	85	$	—	$	—	$	85
U.S. treasury securities	213		1		(1)		213
Corporate securities and commercial paper	471		—		—		471
U.S. government agency securities	90		—		—		90
Certificate of deposit	7		—		—		7
Total cash, cash equivalents and marketable securities	$	866	$	1	$	(1)	$	866

Schedule of Fair Values of Our Cash, Cash Equivalents and Marketable Securities by Location in Condensed Consolidated Balance Sheets and Contractual Maturity

The following table summarizes the fair values of our cash, cash equivalents and marketable securities by location in the Condensed Consolidated Balance Sheets and contractual maturity (in millions):

Location in Condensed Consolidated Balance Sheets	Contractual Maturity	June 30, 2024		December 31, 2023
Cash and cash equivalents	—	$	156	$	127
Marketable securities	Within one year	813		632
Long-term marketable securities	Between one and three years	40		107
Total cash, cash equivalents and marketable securities		$	1,009	$	866

Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash within the Condensed Consolidated Balance Sheets to the total shown in the Condensed Consolidated Statements of Cash Flows (in millions):

	As of June 30,
	2024		2023
Cash and cash equivalents	$	156	$	230
Restricted cash (included in Other noncurrent assets)	3		3
Total cash, cash equivalents and restricted cash	$	159	$	233

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash within the Condensed Consolidated Balance Sheets to the total shown in the Condensed Consolidated Statements of Cash Flows (in millions):

	As of June 30,
	2024		2023
Cash and cash equivalents	$	156	$	230
Restricted cash (included in Other noncurrent assets)	3		3
Total cash, cash equivalents and restricted cash	$	159	$	233