v3.24.0.1
Fair Value Measurements and Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value
The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis (in millions):

December 31, 2022
Level 1Level 2Level 3Total
Assets
Cash equivalents:
Money market funds$2,326 $— $— $2,326 
Certificates of deposit26 — — 26 
Government bonds— 32 — 32 
Commercial paper— 327 — 327 
Corporate debt securities— 68 — 68 
Total cash equivalents at fair value
2,352 427 — 2,779 
Short-term investments:
Certificates of deposit573 — — 573 
Government bonds— 83 — 83 
Commercial paper— 574 — 574 
Corporate debt securities— 959 — 959 
Mortgage-backed and asset-backed securities— 34 — 34 
Equity investments1 — — 1 
Total short-term investments at fair value
574 1,650 — 2,224 
Funds receivable and amounts held on behalf of customers:
Money market funds501 — — 501 
Prepaids and other current assets:
Foreign exchange derivative assets— 14 — 14 
Other assets, noncurrent:
Corporate debt securities— — 4 4 
Total assets at fair value$3,427 $2,091 $4 $5,522 
Liabilities
Accrued expenses, accounts payable, and other current liabilities:
Foreign exchange derivative liabilities$— $31 $— $31 
Total liabilities at fair value$— $31 $— $31 
December 31, 2023
Level 1Level 2Level 3Total
Assets
Cash equivalents:
Money market funds$2,018 $— $— $2,018 
Certificates of deposit— 1 — 1 
Government bonds— 115 — 115 
Commercial paper— 223 — 223 
Corporate debt securities— 12 — 12 
Total cash equivalents at fair value
2,018 351 — 2,369 
Short-term investments:
Certificates of deposit— 172 — 172 
Government bonds— 333 — 333 
Commercial paper— 366 — 366 
Corporate debt securities— 1,491 — 1,491 
Mortgage-backed and asset-backed securities— 145 — 145 
Total short-term investments at fair value
— 2,507 — 2,507 
Funds receivable and amounts held on behalf of customers:
Money market funds1,360 — — 1,360 
Prepaids and other current assets:
Foreign exchange derivative assets— 27 — 27 
Other assets, noncurrent:
Corporate debt securities— — 4 4 
Total assets at fair value$3,378 $2,885 $4 $6,267 
Liabilities
Accrued expenses, accounts payable, and other current liabilities:
Foreign exchange derivative liabilities$— $55 $— $55 
Other liabilities, noncurrent:
Foreign exchange derivative liabilities— 5 — 5 
Total liabilities at fair value$— $60 $— $60