Investments |
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Sep. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | Investments Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following:
(1)Primarily included in Short-term and other investments on our Condensed Consolidated Statements of Financial Position. (2)Dividends received were $16 and $11 during the nine and three months ended September 30, 2026 and $13 and $3 for the same periods in 2025. (3)Reflects amounts restricted by our subsidiaries and in support of our workers' compensation programs and insurance premiums. At December 31, 2025, Restricted cash & cash equivalents also included $689 placed in escrow pursuant to the May 2025 non-prosecution agreement with the U.S. Department of Justice, which was released from escrow during the third quarter of 2026. See Note 19 for additional discussion. During the third quarter of 2026, we sold our share of an equity method investment and recorded a gain of $252 within Income from operating investments, net. Contributions to investments and Proceeds from investments on our Condensed Consolidated Statements of Cash Flows primarily relate to time deposits and available-for-sale debt investments. Cash used for the purchase of time deposits during the nine months ended September 30, 2026 and 2025, was $27,645 and $35,865. Cash proceeds from the maturities of time deposits during the nine months ended September 30, 2026 and 2025, were $34,215 and $32,235. Allowance for losses on available-for-sale debt investments is assessed quarterly. These instruments are considered investment grade, and we have not recognized an allowance for credit losses as of September 30, 2026. The fair value of available-for-sale debt investments approximates amortized cost. We have a 50 percent membership interest in United Launch Alliance (ULA) with Lockheed Martin Corporation (Lockheed) holding the other 50 percent interest. During the first quarter of 2026, ULA’s Vulcan rocket experienced a launch anomaly that has paused additional Vulcan launches pending completion of root cause analysis and corrective actions. The Vulcan launch suspension is negatively affecting ULA's financial condition and results of operations. In the third quarter of 2026, we and Lockheed each agreed to guarantee $750 of certain ULA credit facilities maturing on August 28, 2029, replacing the credit facilities guaranteed during the second quarter of 2026. We and Lockheed expect to provide additional financial support in the fourth quarter of 2026 and could incur losses if ULA is unable to resume Vulcan launches consistent with ULA’s assumptions. See Note 12.
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