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Accounting Policies and Supplemental Disclosures (Tables) | 6 Months Ended
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Jun. 30, 2024
Accounting Policies [Abstract] |
Supplemental Cash Flow Information | The following table shows supplemental cash flow information (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30, |  | Twelve Months Ended June 30,
| 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024
SUPPLEMENTAL CASH FLOW INFORMATION: |  |  |  |  |  |  |  |  |  |  |
Cash paid for interest on debt, net of capitalized interest | $ | 954 |  |  | $ | 680 |  |  | $ | 1,356 |  |  | $ | 949 |  |  | $ | 2,289 |  |  | $ | 2,201 |
Cash paid for operating leases | 2,528 |  |  | 2,844 |  |  | 4,995 |  |  | 6,176 |  |  | 9,173 |  |  | 11,634 |
Cash paid for interest on finance leases | 77 |  |  | 72 |  |  | 158 |  |  | 146 |  |  | 330 |  |  | 296 |
Cash paid for interest on financing obligations | 41 |  |  | 50 |  |  | 100 |  |  | 114 |  |  | 194 |  |  | 210 |
Cash paid for income taxes, net of refunds | 3,735 |  |  | 5,700 |  |  | 4,354 |  |  | 6,158 |  |  | 6,791 |  |  | 12,983 |
Assets acquired under operating leases | 4,104 |  |  | 3,911 |  |  | 7,730 |  |  | 7,664 |  |  | 19,254 |  |  | 13,986 |
Property and equipment acquired under finance leases, net of remeasurements and modifications | 240 |  |  | 181 |  |  | 248 |  |  | 223 |  |  | 696 |  |  | 617 |
Property and equipment recognized during the construction period of build-to-suit lease arrangements | 84 |  |  | 31 |  |  | 215 |  |  | 68 |  |  | 1,051 |  |  | 210 |
Property and equipment derecognized after the construction period of build-to-suit lease arrangements, with the associated leases recognized as operating | — |  |  | — |  |  | 720 |  |  | — |  |  | 4,766 |  |  | 654 |
Calculation of Diluted Shares | The following table shows the calculation of diluted shares (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2024 |  | 2023 |  | 2024
Shares used in computation of basic earnings per share | 10,285 |  |  | 10,447 |  |  | 10,268 |  |  | 10,420 |
Total dilutive effect of outstanding stock awards | 164 |  |  | 261 |  |  | 130 |  |  | 269 |
Shares used in computation of diluted earnings per share | 10,449 |  |  | 10,708 |  |  | 10,398 |  |  | 10,689 |
Other Income (Expense), Net | Other income (expense), net” is as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2024 |  | 2023 |  | 2024
Marketable equity securities valuation gains (losses) | $ | 299 |  |  | $ | 443 |  |  | $ | (181) |  |  | $ | (1,683) |
Equity warrant valuation gains (losses) | (220) |  |  | (271) |  |  | (161) |  |  | (501) |
Upward adjustments relating to equity investments in private companies | 10 |  |  | 6 |  |  | 26 |  |  | 11 |
Foreign currency gains (losses) | 9 |  |  | (138) |  |  | 79 |  |  | (212) |
Other, net | (37) |  |  | (58) |  |  | (145) |  |  | (306) |
Total other income (expense), net | 61 |  |  | (18) |  |  | (382) |  |  | (2,691) |
Summarized Financial Information of Equity Investment | Required summarized financial information of Rivian as disclosed in its most recent SEC filings is as follows (in millions):
|  |  |  |  | Three Months Ended March 31,
|  |  |  |  | 2023 |  | 2024
Revenues |  |  |  |  | $ | 661 |  |  | $ | 1,204 |
Gross profit |  |  |  |  | (535) |  |  | (527) |
Loss from operations |  |  |  |  | (1,433) |  |  | (1,484) |
Net loss |  |  |  |  | (1,349) |  |  | (1,446) |

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