Boeing 2013 Annual Report Download - page 89

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77
Note 9 – Investments
Our investments, which are recorded in Short-term and other investments or Investments, consisted of
the following at December 31:
2013 2012
Time deposits $6,090 $3,135
Pledged money market funds(1) 46 56
Available-for-sale investments 89
Equity method investments (2) 1,164 1,137
Restricted cash(3) 33 25
Other investments 33 35
Total $7,374 $4,397
(1) Reflects amounts pledged in lieu of letters of credit as collateral in support of our workers’ compensation
programs. These funds can become available within 30 days notice upon issuance of letters of credit.
(2) Dividends received were $226 and $341 during 2013 and 2012. Retained earnings at December 31,
2013 include undistributed earnings from our equity method investments of $144.
(3) Restricted to pay certain claims related to workers’ compensation and life insurance premiums for
certain employees.
Equity Method Investments
Our equity method investments consisted of the following as of December 31:
Segment
Ownership
Percentages Investment Balance
2013 2012
United Launch Alliance Network & Space Systems (N&SS) 50% $970 $946
Other Commercial Airplanes, N&SS and
Global Services & Support (GS&S) 194 191
Total Equity method investments $1,164 $1,137
Note 10 – Other Assets
Sea Launch
At December 31, 2013 and 2012, Other assets included $356 of receivables related to our former investment
in the Sea Launch venture which became payable by certain Sea Launch partners following Sea Launch’s
bankruptcy filing in June 2009. The $356 includes $147 related to a payment made by us under a bank
guarantee on behalf of Sea Launch and $209 related to loans (partner loans) we made to Sea Launch.
The net amounts owed to Boeing by each of the partners are as follows: S.P. Koroley Rocket and Space
Corporation Energia of Russia – $223, PO Yuzhnoye Mashinostroitelny Zavod of Ukraine – $89 and KB
Yuzhnoye of Ukraine – $44.
Although each partner is contractually obligated to reimburse us for its share of the bank guarantee, the
Russian and Ukrainian partners have raised defenses to enforcement and contested our claims. On
October 19, 2009, we filed a Notice of Arbitration with the Stockholm Chamber of Commerce seeking
reimbursement from the other Sea Launch partners of the $147 bank guarantee payment. On October 7,
2010, the arbitrator ruled that the Stockholm Chamber of Commerce lacked jurisdiction to hear the matter