The Company invests in certificates of deposit/time deposits, commercial paper, and other securities. The following is a summary of amounts recorded on the Consolidated Balance Sheet for marketable securities (current and non-current).


(Millions)	December 31, 2025		December 31, 2024



Corporate debt	$	302	$	850

Commercial paper	191		658

U.S. government and treasury securities	53		407

Asset backed securities and certificates of/time deposits	148		209
U.S. municipal securities	4		4
Current marketable securities	698		2,128



U.S. municipal securities	12		16
Non-current marketable securities	12		16

Total marketable securities	$	710	$	2,144

At December 31, 2025 and 2024, gross unrealized, gross realized, and net realized gains and/or losses (pre-tax) were not material.

The balances at December 31, 2025 for marketable securities by contractual maturity are shown below. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.


(Millions)
Due in one year or less	$	599
Due after one year through five years	111

Total marketable securities	$	710