The tables below present assets and liabilities measured at fair value on a recurring basis (in millions).


		March 31, 2024
Category	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Time deposits	Cash and cash equivalents	$	—	$	102	$	—	$	102

Equity securities:
Money market fund	Cash and cash equivalents	1		—		—		1
Mutual funds	Prepaid expenses and other current assets	44		—		—		44
Company-owned life insurance contracts	Prepaid expenses and other current assets	—		1		—		1
Mutual funds	Other noncurrent assets	234		—		—		234
Company-owned life insurance contracts	Other noncurrent assets	—		100		—		100



Total		$	279	$	203	$	—	$	482
Liabilities
Deferred compensation plan	Accrued liabilities	$	67	$	—	$	—	$	67
Deferred compensation plan	Other noncurrent liabilities	652		—		—		652
Total		$	719	$	—	$	—	$	719


		December 31, 2023
Category	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Time deposits	Cash and cash equivalents	$	—	$	105	$	—	$	105

Equity securities:
Money market funds	Cash and cash equivalents	1		—		—		1

Mutual funds	Prepaid expenses and other current assets	42		—		—		42
Company-owned life insurance contracts	Prepaid expenses and other current assets	—		1		—		1
Mutual funds	Other noncurrent assets	233		—		—		233
Company-owned life insurance contracts	Other noncurrent assets	—		97		—		97

Total		$	276	$	203	$	—	$	479
Liabilities
Deferred compensation plan	Accrued liabilities	$	67	$	—	$	—	$	67
Deferred compensation plan	Other noncurrent liabilities	614		—		—		614
Total		$	681	$	—	$	—	$	681