Boeing 2015 Annual Report Download - page 93

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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:
2015 2014
Time deposits $456 $1,295
Pledged money market funds(1) 38 38
Available-for-sale investments 244 7
Equity method investments (2) 1,230 1,114
Restricted cash(3) 31 26
Other investments 35 33
Total $2,034 $2,513
(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 $239 and $293 during 2015 and 2014. Retained earnings at December 31,
2015 include undistributed earnings from our equity method investments of $251.
(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
2015 2014
United Launch Alliance Network & Space Systems (N&SS) 50% $908 $916
Other Commercial Airplanes, N&SS and Global
Services & Support (GS&S) 322 198
Total equity method investments $1,230 $1,114
Note 10 – Other Assets
Sea Launch
At December 31, 2015 and 2014, 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
February 1, 2013, we filed an action in the United States District Court for the Central District of California
seeking reimbursement from the other Sea Launch partners of the $147 bank guarantee payment and the
$209 partner loan obligations. On September 28, 2015, the district court granted summary judgment in