v3.24.3
Fair Value Measures and Disclosures (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured at Fair Value on Recurring Basis
The following tables set forth the Company’s cash equivalents and marketable securities that were measured at fair value on a recurring basis by level within the fair value hierarchy (in millions):
 December 31, 2023
 Level 1Level 2Level 3Total
Cash equivalents
Money market funds$1,349 $— $— $1,349 
U.S. Treasury securities— 35 — 35 
Short-term marketable securities
Certificates of deposit— 38 — 38 
Commercial paper— 216 — 216 
Corporate bonds— 289 — 289 
U.S. government agency securities— 162 — 162 
U.S. Treasury securities— 717 — 717 
Long-term marketable securities
Corporate bonds— 383 — 383 
U.S. government agency securities— 55 — 55 
U.S. Treasury securities— 145 — 145 
Total$1,349 $2,040 $— $3,389 
 September 30, 2024
 Level 1Level 2Level 3Total
Cash equivalents
Money market funds$2,433 $— $— $2,433 
Commercial paper— 24 — 24 
Certificates of deposit— 2 — 2 
U.S. Treasury securities— 7 — 7 
Short-term marketable securities
Certificates of deposit— 40 — 40 
Commercial paper— 101 — 101 
Corporate bonds— 462 — 462 
U.S. government agency securities— 46 — 46 
U.S. Treasury securities— 606 — 606 
Mutual funds45 — — 45 
Long-term marketable securities
Corporate bonds— 467 — 467 
U.S. government agency securities— 69 — 69 
U.S. Treasury securities— 259 — 259 
Total$2,478 $2,083 $— $4,561 
Summary of Carrying Value of the Company's Non-Marketable Equity Securities and Unrealized Losses
The following table summarizes the carrying value of the Company's non-marketable equity securities as of December 31, 2023 and September 30, 2024, including impairments and cumulative upward and downward adjustments made to the initial cost basis of the securities, which were recorded in other expense, net in the condensed consolidated statements of operations during the period in which they were incurred (in millions):
December 31,
2023		September 30,
2024
Initial cost basis$450 $450 
Upward adjustments9 9 
Downward adjustments (including impairment)(413)(419)
Total carrying value at the end of reporting period$46 $40