Valuation of debt and equity investments and certain liabilities (Tables)

9 Months Ended

Sep. 30, 2025

Details of our investments are as follows:


	September 30, 2025						December 31, 2024
	Cash and Cash Equivalents		Short-Term Investments		Long-Term Investments		Cash and Cash Equivalents		Short-Term Investments		Long-Term Investments
Measured at fair value:
Money market funds	$	737	$	—	$	—	$	762	$	—	$	—
Corporate obligations	738		503		—		694		796		—
U.S. government and agency securities	1,432		1,198		—		752		3,485		—
Non-U.S. government and agency securities	50		174		—		249		99		—
Mutual funds	—		—		11		—		—		11
Total	2,957		1,875		11		2,457		4,380		11

Other measurement basis:
Equity-method investments	—		—		2		—		—		8
Nonmarketable investments	—		—		4		—		—		4
Total	—		—		6		—		—		12

Cash on hand	354		—		—		743		—		—
Total	$	3,311	$	1,875	$	17	$	3,200	$	4,380	$	23

Schedule of Aggregate Maturities of Available-for-sale Debt Investments

The following table presents the aggregate maturities of our debt investments as of September 30, 2025:


	Fair Value
One year or less	$	3,764
One to two years	331

Schedule of Assets and Liabilities Accounted for at Fair Value

The following are our assets and liabilities that were accounted for at fair value on a recurring basis. These tables do not include cash on hand, assets held by our postretirement plans, or assets and liabilities that are measured at historical cost or any basis other than fair value.


	September 30, 2025						December 31, 2024
	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:
Money market funds	$	737	$	—	$	737	$	762	$	—	$	762
Corporate obligations	—		1,241		1,241		—		1,490		1,490
U.S. government and agency securities	2,231		399		2,630		2,591		1,646		4,237
Non-U.S. government and agency securities	—		224		224		—		348		348
Mutual funds	11		—		11		11		—		11
Total assets	$	2,979	$	1,864	$	4,843	$	3,364	$	3,484	$	6,848

Liabilities:
Deferred compensation	$	475	$	—	$	475	$	443	$	—	$	443
Total liabilities	$	475	$	—	$	475	$	443	$	—	$	443