Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value of Assets and Liabilities Measured on Recurring Basis


	March 31,		December 31,
	2022		2021
Quoted prices in active markets (Level 1):
Cash equivalents and money market funds	$	166	$	38
Equity securities		33		25
Significant other observable inputs (Level 2):
Available-for-sale securities (a)		464		395
Significant unobservable inputs (Level 3):
Redeemable preferred stock (b)		49		49
Total Assets	$	712	$	507

(a)	Our available-for-sale securities primarily relate to debt securities with maturities over the next eight years.

(b)

Our investment has been measured based on third-party investors’ recent or pending transactions in these securities, which are considered the best evidence of fair value. When this evidence is not available, we use other valuation techniques as appropriate and available. These valuation methodologies may include transactions in similar instruments, discounted cash flow techniques, third-party appraisals or industry multiples and public company comparable transactions.