Financial Assets & Liabilities (Tables)

3 Months Ended

Mar. 31, 2025

Investments, All Other Investments [Abstract]

Financial assets and financial liabilities measured at fair value on a recurring basis

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

	Fair Value Hierarchy Level	At March 31, 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	$	6,059	N/A		$	6,663	N/A
Money market funds	1	716		N/A		284		N/A
Total cash equivalents		$	6,775	N/A		$	6,948	N/A
Equity investments	1	—		N/A		—		N/A
Debt securities-current (2) (3)	2	6,430		N/A		644		N/A
Debt securities-noncurrent (2) (4)	2,3	157		N/A		124		N/A
Derivatives designated as hedging instruments:
Interest rate contracts	2	1		273		—		362
Foreign exchange contracts	2	342		253		645		294
Derivatives not designated as hedging instruments:
Foreign exchange contracts	2	38		15		22		43
Equity contracts	2	7		68		4		27
Total		$	13,752	$	608	$	8,386	$	726

(1)Included within cash and cash equivalents in the Consolidated Balance Sheet.

(2)Available-for-sale debt securities with carrying values that approximate fair value.

(3)Term deposits, government securities and corporate securities that are reported within marketable securities in the Consolidated Balance Sheet. The March 31, 2025 balance includes proceeds from the first-quarter 2025 debt issuances. See note 12, “Borrowings,” for additional information.

(4)Includes a $100 million seller financing loan in connection with the divestiture in the first-quarter 2024 of The Weather Company assets, 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 March 31, 2025 were $264 million and $125 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 March 31, 2025 were $276 million and $332 million, respectively, and at December 31, 2024 were $262 million and $463 million, respectively.

N/A – not applicable