Annual report pursuant to Section 13 and 15(d)

INVESTMENTS (Tables)

v3.19.3.a.u2
INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Investments Disclosure [Abstract]    
Carrying value of equity securities by balance sheet location [Table Text Block] he carrying values of our equity securities were included in the following line items in our consolidated balance sheets (in millions):
 
Fair Value with Changes Recognized in Income

Measurement Alternative — No Readily Determinable Fair Value

December 31, 2019
 
 
Marketable securities
$
329

$

Other investments
772

82

Other assets
1,118


Total equity securities
$
2,219

$
82

December 31, 2018
 
 
Marketable securities
$
278

$

Other investments
787

80

Other assets
869


Total equity securities
$
1,934

$
80


 
Unrealized Gain (Loss) on Investments [Table Text Block]
The calculation of net unrealized gains and losses recognized during the year related to equity securities still held at the end of the year is as follows (in millions):
Year Ended December 31,
2019

2018

Net gains (losses) recognized during the year related to equity securities
$
218

$
(250
)
Less: Net gains (losses) recognized during the year related to equity securities sold during the
  year
27

8

Net unrealized gains (losses) recognized during the year related to equity securities still held
  at the end of the year
$
191

$
(258
)

 
Equity securities by security type [Table Text Block]  
Fair value of equity securities by balance sheet location [Table Text Block]  
Schedule of Realized Gain (Loss) [Table Text Block]  
The sale and/or maturity of available-for-sale equity securities resulted in the following realized activity (in millions):
 
Year Ended
December 31, 2017

Gross gains
$
61

Gross losses
(19
)
Proceeds
275


Schedule of debt securities [Table Text Block]
Our debt securities consisted of the following (in millions):
 
 
Gross Unrealized
Estimated Fair Value

 
Cost

Gains

Losses

December 31, 2019
 
 
 
 
Trading securities
$
46

$
1

$

$
47

Available-for-sale securities
3,172

113

(4
)
3,281

Total debt securities
$
3,218

$
114

$
(4
)
$
3,328

December 31, 2018
 
 
 
 
Trading securities
$
45

$

$
(1
)
$
44

Available-for-sale securities
4,901

119

(27
)
4,993

Total debt securities
$
4,946

$
119

$
(28
)
$
5,037


 
Fair value of debt securities by balance sheet location [Table Text Block]
The carrying values of our debt securities were included in the following line items in our consolidated balance sheets (in millions):
 
December 31, 2019
 
December 31, 2018
 
Trading Securities

Available-for-Sale Securities

 
Trading Securities

Available-for-Sale Securities

Cash and cash equivalents
$

$
123

 
$

$

Marketable securities
47

2,852

 
44

4,691

Other assets

306

 

302

Total debt securities
$
47

$
3,281

 
$
44

$
4,993


 
Investments Classified by Contractual Maturity Date [Table Text Block]
The contractual maturities of these available-for-sale debt securities as of December 31, 2019 were as follows (in millions):
 
Cost

Estimated
Fair Value

Within 1 year
$
1,943

$
1,982

After 1 year through 5 years
970

1,022

After 5 years through 10 years
72

84

After 10 years
187

193

Total
$
3,172

$
3,281


 
Realized Gain (Loss) on Investments [Table Text Block]
The sale and/or maturity of available-for-sale debt securities resulted in the following realized activity (in millions):
Year Ended December 31,
2019

2018

2017

Gross gains
$
39

$
22

$
7

Gross losses
(8
)
(27
)
(13
)
Proceeds
3,956

13,710

13,930