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CASH EQUIVALENTS AND INVESTMENTS
 12 Months Ended
Dec. 31, 2022
Cash and Cash Equivalents [Abstract]  
CASH EQUIVALENTS AND INVESTMENTS CASH EQUIVALENTS AND INVESTMENTS
The table below provides additional information on the Company’s cash equivalents and investments:
As of December 31, 2022
CostGross Unrealized GainsFair ValueBalance sheet location
Cash and cash equivalentsShort-term investmentsOther assets
Certificates of deposit and money market deposit accounts (1)
$914 $— $914 $808 $90 $16 
Mutual funds$71 $— $71 $— $— $71 
As of December 31, 2021
CostGross Unrealized GainsFair ValueBalance sheet location
Cash and cash equivalentsShort-term investmentsOther assets
Certificates of deposit and money market deposit accounts (1)
$691 $— $691 $584 $91 $16 
Mutual funds$65 $8 $73 $— $— $73 
(1)Consists of time deposits and money market deposit accounts. The remaining contractual maturities for the certificates of deposits classified as short-term investments are one month to 12 months at both December 31, 2022 and at December 31, 2021. The remaining contractual maturities for the certificates of deposits classified in other assets are 13 months to 24 months at December 31, 2022 and 13 months to 29 months at December 31, 2021. Time deposits with a maturity of less than 90 days at time of purchase are classified as cash and cash equivalents.
In addition, the Company invests in Corporate-Owned Life Insurance (COLI). As of December 31, 2022 and December 31, 2021, the contract value of the COLI was $40 million and $37 million, respectively.