INVESTMENTS - (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Financial Instruments by Significant Categories and Fair Value Measurement on a Recurring Basis

The following tables summarize our financial instruments by significant categories and fair value measurement on a recurring basis as of June 30, 2023 and December 31, 2022 and the amortized cost, gross unrealized gains, gross unrealized losses, fair value of our AFS investments:

(in millions)	Fair Value Level	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Investments		Restricted Cash, Cash Equivalents and Investments
June 30, 2023
Cash equivalents:
Money market mutual funds	Level 1	$	163	$	—	$	—	$	163	$	77	$	—	$	86
U.S. treasuries	Level 2	26		—		—		26		26		—		—
Total cash equivalents		189		—		—		189		103		—		86
AFS Investments:
Asset-backed securities	Level 2	47		—		(2)		45		—		45		—
Corporate bonds	Level 2	122		—		(1)		121		—		96		25
Agency securities	Level 2	36		—		(1)		35		—		6		29
U.S. treasuries	Level 2	245		—		(3)		242		—		62		180
Certificate of deposit	Level 2	6		—		—		6		—		—		6
Other debt securities	Level 2	6		—		—		6		—		6		—
Total AFS Investments		$	462	$	—	$	(7)	$	455	$	—	$	215	$	240

(in millions)	Fair Value Level	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Investments		Restricted Cash, Cash Equivalents and Investments
December 31, 2022
Cash equivalents:
Money market mutual funds	Level 1	$	314	$	—	$	—	$	314	$	225	$	—	$	89
U.S. treasuries	Level 2	18		—		—		18		18		—		—
Total cash equivalents		332		—		—		332		243		—		89
AFS Investments:
Asset-backed securities	Level 2	42		—		(2)		40		—		40		—
Corporate bonds	Level 2	140		—		(1)		139		—		112		27
Agency securities	Level 2	33		—		(1)		32		—		5		27
U.S. treasuries	Level 2	229		—		—		229		—		62		167
Certificate of deposit	Level 2	12		—		—		12		—		—		12
Other debt securities	Level 2	8		—		—		8		—		7		1
Total AFS Investments		$	464	$	—	$	(4)	$	460	$	—	$	226	$	234

Schedule of Fair value of Debt Investments by Contractual Maturity

The fair value of debt investments by contractual maturity are shown below:

(in millions)	June 30, 2023
One year or less	$	84
Over one year through five years	341
Over five years through ten years	11
Over ten years	19
Total fair value	$	455

Schedule of Available-for-Sale Securities

The gross proceeds from sales and maturities of AFS securities for the three and six months ended June 30, 2023 and June 30, 2022 are presented below. We had immaterial gross realized gains and losses from sales of investments for the first half of 2023 and 2022.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2023		2022		2023		2022
Gross proceeds from sales	$	52	$	21	$	84	$	43
Gross proceeds from maturities	45		83		89		132
Total	$	97	$	104	$	173	$	175