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

3 Months Ended

Mar. 31, 2026

Details of our investments are as follows:


	March 31, 2026						December 31, 2025
	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	$	1,122	$	—	$	—	$	844	$	—	$	—
Corporate obligations	797		526		—		517		522		—
U.S. government and agency securities	1,136		978		—		1,296		1,035		—
Non-U.S. government and agency securities	90		50		—		184		99		—
Mutual funds	—		—		10		—		—		11
Total	3,145		1,554		10		2,841		1,656		11

Other investments	—		—		5		—		—		5

Cash on hand	404		—		—		384		—		—
Total	$	3,549	$	1,554	$	15	$	3,225	$	1,656	$	16

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

The following table presents the aggregate maturities of our debt investments as of March 31, 2026:


	Fair Value
One year or less	$	3,138
One to two years	439

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.


	March 31, 2026						December 31, 2025
	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:
Money market funds	$	1,122	$	—	$	1,122	$	844	$	—	$	844
Corporate obligations	—		1,323		1,323		—		1,039		1,039
U.S. government and agency securities	1,815		299		2,114		1,932		399		2,331
Non-U.S. government and agency securities	—		140		140		—		283		283
Mutual funds	10		—		10		11		—		11
Total assets	$	2,947	$	1,762	$	4,709	$	2,787	$	1,721	$	4,508

Liabilities:
Deferred compensation	$	444	$	—	$	444	$	492	$	—	$	492
Total liabilities	$	444	$	—	$	444	$	492	$	—	$	492