Investments (Tables)

12 Months Ended

Dec. 31, 2025

Investments [Abstract]

Schedule of Investments

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

	2025	2024
Time deposits (1)	$17,230	$11,960
Equity method investments (2)	997	948
Restricted cash & cash equivalents (1)(3)	742	21
Available-for-sale debt investments (1)	524	517
Equity and other investments	34	34
Total	$19,527	$13,480

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

(2)Dividends received were $14 and $55 during 2025 and 2024. Retained earnings at December 31, 2025 and 2024, included undistributed earnings from our equity method investments of $213 and $141.

(3)At December 31, 2025, Restricted cash & cash equivalents includes $689 placed in escrow pursuant to the May 2025 non-prosecution agreement with the U.S. Department of Justice. See Note 23 for additional discussion.

Schedule of Equity Method Investments

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

	Segment	Ownership Percentages	Investment Balance
			2025	2024
United Launch Alliance	BDS	50%	$556	$557
Other	BCA, BDS, BGS and Other		441	391
Total equity method investments			$997	$948