Investments

12 Months Ended

Dec. 31, 2024

Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31:


	2024	2023
Time deposits (1)	$11,960	$2,753
Equity method investments (2)	948	966
Available-for-sale debt investments (1)	517	499
Equity and other investments	34	69
Restricted cash & cash equivalents (1)(3)	21	22
Total	$13,480	$4,309

(1)Primarily included in Short-term and other investments on our Consolidated Statements of Financial Position.

(2)Dividends received were $55 and $31 during 2024 and 2023. Retained earnings at December 31, 2024 and 2023 include undistributed earnings from our equity method investments of $141 and $110.

(3)Reflects amounts restricted in support of our workers’ compensation programs and insurance premiums.

Contributions to investments and Proceeds from investments on our 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 2024, 2023 and 2022, was $13,258, $15,794 and $4,358, respectively. Cash proceeds from the maturities of time deposits during 2024, 2023 and 2022 were $4,053, $15,140 and $9,943, respectively.

Allowance for losses on available-for-sale debt investments are assessed quarterly. All instruments are considered investment grade, and we have not recognized an allowance for credit losses as of December 31, 2024. Fair value of available-for-sale debt securities approximates amortized cost.

Equity Method Investments

Our equity method investments consisted of the following at December 31:


	Segment	Ownership Percentages	Investment Balance
			2024	2023
United Launch Alliance	BDS	50%	$557	$582
Other	BCA, BDS, BGS and Other		391	384
Total equity method investments			$948	$966