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Assets and Liabilities Measured at Fair Value (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Investments of Insurance Subsidiaries Measured at Fair Value on Recurring Basis

The following tables summarize the investments of our insurance subsidiaries measured at fair value on a recurring basis as of December 31, 2024 and 2023, aggregated by the level in the fair value hierarchy within which those measurements fall (dollars in millions):

 

 

2024

 

 

 

 

 

 

Fair Value Measurements Using

 

 

 

Fair Value

 

 

Quoted Prices in
Active Markets for
Identical Assets
(Level 1)

 

 

Significant Other
Observable Inputs
(Level 2)

 

 

Significant
Unobservable Inputs
(Level 3)

 

Debt securities

 

$

361

 

 

$

 

 

$

361

 

 

$

 

Money market funds and other

 

 

296

 

 

 

296

 

 

 

 

 

 

 

Investments of insurance subsidiaries

 

 

657

 

 

 

296

 

 

 

361

 

 

 

 

Less amounts classified as current assets

 

 

(88

)

 

 

(88

)

 

 

 

 

 

 

 

 

$

569

 

 

$

208

 

 

$

361

 

 

$

 

 

 

2023

 

 

 

 

 

Fair Value Measurements Using

 

 

Fair Value

 

 

Quoted Prices in
Active Markets for
Identical Assets
(Level 1)

 

 

Significant Other
Observable Inputs
(Level 2)

 

 

Significant
Unobservable Inputs
(Level 3)

 

Debt securities

 

$

376

 

 

$

 

 

$

376

 

 

$

 

Money market funds and other

 

 

188

 

 

 

188

 

 

 

 

 

 

 

Investments of insurance subsidiaries

 

 

564

 

 

 

188

 

 

 

376

 

 

 

 

Less amounts classified as current assets

 

 

(87

)

 

 

(87

)

 

 

 

 

 

 

 

$

477

 

 

$

101

 

 

$

376

 

 

$