Cash, Cash Equivalents and Marketable Securities (Tables)

9 Months Ended

Sep. 30, 2025

Cash, Cash Equivalents and Marketable Securities [Abstract]

Summary of Amortized Cost, Gross Unrealized Gains and Losses and Fair Value of Our Cash, Cash Equivalents and Marketable 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 September 30, 2025	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Money market funds	$	171	$	—	$	—	$	171
U.S. treasury securities	246		—		—		246
Corporate securities and commercial paper	406		—		—		406
Certificate of deposit	18		—		—		18
Total cash, cash equivalents and marketable securities	$	841	$	—	$	—	$	841

Types of securities as of December 31, 2024	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
Money market funds	$	120	$	—	$	—	$	120
U.S. treasury securities	251		—		—		251
Corporate securities and commercial paper	592		—		—		592
U.S. government agency securities	5		—		—		5
Certificate of deposit	24		—		—		24
Total cash, cash equivalents and marketable securities	$	992	$	—	$	—	$	992

Summary of Fair Values of Our Cash, Cash Equivalents and Marketable Securities

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	September 30, 2025		December 31, 2024
Cash and cash equivalents	—	$	238	$	150
Marketable securities	Within one year	593		828
Long-term marketable securities	Between one and three years	10		14
Total cash, cash equivalents and marketable securities		$	841	$	992

Summary 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 September 30,
	2025		2024
Cash and cash equivalents	$	238	$	201
Restricted cash (included in Other noncurrent assets)	3		3
Total cash, cash equivalents and restricted cash	$	241	$	204

Summary 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 September 30,
	2025		2024
Cash and cash equivalents	$	238	$	201
Restricted cash (included in Other noncurrent assets)	3		3
Total cash, cash equivalents and restricted cash	$	241	$	204