The following table presents the company’s financial assets and financial liabilities that are measured at fair value on a recurring basis at June 30, 2025 and December 31, 2024.


	Fair Value Hierarchy Level	At June 30, 2025				At December 31, 2024
(Dollars in millions)		Assets (5)		Liabilities (6)		Assets (5)		Liabilities (6)
Cash equivalents: (1)
Time deposits, certificates of deposit and other (2)	2	$	6,652	N/A		$	6,663	N/A
Money market funds	1	564		N/A		284		N/A
Total cash equivalents		$	7,216	N/A		$	6,948	N/A
Equity investments	1	—		N/A		—		N/A
Debt securities-current (2) (3)	2	3,504		N/A		644		N/A
Debt securities-noncurrent (2) (4)	2,3	4		N/A		124		N/A
Derivatives designated as hedging instruments:
Interest rate contracts	2	1		214		—		362
Foreign exchange contracts	2	500		591		645		294
Derivatives not designated as hedging instruments:
Foreign exchange contracts	2	51		15		22		43
Equity contracts	2	116		0		4		27
Total		$	11,391	$	820	$	8,386	$	726

(4)December 31, 2024 balance includes a seller financing loan of approximately $100 million in connection with the divestiture of The Weather Company assets that was repaid early by the debtor in the second quarter of 2025, reported within investments and sundry assets in the Consolidated Balance Sheet.

(5)The gross balances of derivative assets contained within prepaid expenses and other current assets, and investments and sundry assets in the Consolidated Balance Sheet at June 30, 2025 were $329 million and $338 million, respectively, and at December 31, 2024 were $575 million and $96 million, respectively.

(6)The gross balances of derivative liabilities contained within other accrued expenses and liabilities, and other liabilities in the Consolidated Balance Sheet at June 30, 2025 were $559 million and $262 million, respectively, and at December 31, 2024 were $262 million and $463 million, respectively.