Marketable and Other Securities

9 Months Ended

Sep. 30, 2025

The following table summarizes the fair value of cash equivalents and marketable debt securities, which approximates cost:


	Fair Value Level	September 30, 2025		December 31, 2024
Cash and cash equivalents
Cash and time deposits		$	3,186	$	2,793
Available-for-sale debt securities
U.S. government and agencies	2	781		—

Sovereign debt	2	83		124
Total available-for-sale debt securities – cash equivalents		863		124
Money market funds	1	3,770		2,177
Total cash and cash equivalents		$	7,820	$	5,094
Marketable debt securities(a)
U.S. government and agencies	2	$	21	$	—


Total available-for-sale debt securities – marketable securities		$	21	$	—
Restricted cash(a)
Cash and cash equivalents		$	208	$	190
Money market funds	1	2,962		2,798
Total restricted cash		$	3,170	$	2,987

Available-for-sale debt securities included above with contractual maturities
Due in one year or less		$	885
Due between one and five years		—


Total available-for-sale debt securities with contractual maturities		$	885

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(a) Included in other assets.

Net unrealized gains and losses on available-for-sale debt securities were insignificant and none in the three and nine months ended September 30, 2025 and 2024. Cumulative unrealized losses on available-for-sale debt securities were insignificant and none at September 30, 2025 and December 31, 2024. At September 30, 2025, we did not intend to sell the available-for-sale debt securities, and it was unlikely that we would be required to sell the available-for-sale debt securities before recovery of amortized costs. No allowance for credit losses was recorded on available-for-sale debt securities in an unrealized loss position at September 30, 2025 and December 31, 2024.