The following table presents our fair value hierarchy for our assets measured at fair value on a recurring basis as of June 30, 2026 (in millions):


	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	1,424	$	—	$	1,424
Commercial paper	—		3		3


Deposits	55		—		55
U.S. government and agency securities	—		14		14
Marketable securities:
Commercial paper	—		6		6
Corporate notes and bonds	—		3,301		3,301
Certificates of deposit	—		8		8
U.S. government and agency securities	—		798		798
Mortgage-backed and asset-backed securities	—		91		91



Total	$	1,479	$	4,221	$	5,700

The following table presents our fair value hierarchy for our assets measured at fair value on a recurring basis as of December 31, 2025 (in millions):


	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	2,055	$	—	$	2,055
Commercial paper	—		137		137
Corporate notes and bonds	—		6		6

Deposits	219		—		219
U.S. government and agency securities	—		515		515
Marketable securities:
Commercial paper	—		173		173
Corporate notes and bonds	—		4,793		4,793
Certificates of deposit	—		11		11
U.S. government and agency securities	—		1,263		1,263
Mortgage-backed and asset-backed securities	—		89		89

Total	$	2,274	$	6,987	$	9,261