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Assets and Liabilities Measured at Fair Value (Tables)
6 Months Ended
Jun. 30, 2025
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 June 30, 2025 and December 31, 2024, aggregated by the level in the fair value hierarchy within which those measurements fall (dollars in millions):

 

 

June 30, 2025

 

 

 

 

 

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

 

$

331

 

 

$

1

 

 

$

330

 

 

$

 

Money market funds and other

 

 

301

 

 

 

301

 

 

 

 

 

 

 

Investments of insurance subsidiaries

 

 

632

 

 

 

302

 

 

 

330

 

 

 

 

Less amounts classified as current assets

 

 

(101

)

 

 

(101

)

 

 

 

 

 

 

 

$

531

 

 

$

201

 

 

$

330

 

 

$

 

 

 

December 31, 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

 

 

$