Annual report pursuant to Section 13 and 15(d)

INVESTMENTS (Tables)

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INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Carrying value of equity securities by balance sheet location
The 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, 2021
Marketable securities $ 376  $  
Other investments 771  47 
Other noncurrent assets 1,576   
Total equity securities $ 2,723  $ 47 
December 31, 2020
Marketable securities $ 330  $ — 
Other investments 762  50 
Other noncurrent assets 1,282  — 
Total equity securities $ 2,374  $ 50 
Net unrealized gains and losses related to equity securities still held at the end of the period
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, 2021 2020
Net gains (losses) recognized during the year related to equity securities $ 509  $ 146 
Less: Net gains (losses) recognized during the year related to equity securities sold during
the year
71  (22)
Net unrealized gains (losses) recognized during the year related to equity securities still held at the end of the year $ 438  $ 168 
Schedule of available-for-sale and trading securities
Our debt securities consisted of the following (in millions):
Gross Unrealized Estimated Fair Value
Cost Gains Losses
December 31, 2021
Trading securities
$ 39  $ 1  $   $ 40 
Available-for-sale securities
1,648  33  (132) 1,549 
Total debt securities
$ 1,687  $ 34  $ (132) $ 1,589 
December 31, 2020
Trading securities
$ 36  $ $ —  $ 38 
Available-for-sale securities
2,227  51  (13) 2,265 
Total debt securities
$ 2,263  $ 53  $ (13) $ 2,303 
Carrying values of debt securities by balance sheet location
The carrying values of our debt securities were included in the following line items in our consolidated balance sheets (in millions):
December 31, 2021 December 31, 2020
Trading Securities Available-for-Sale Securities Trading Securities Available-for-Sale Securities
Marketable securities $ 40  $ 1,283  $ 38  $ 1,980 
Other noncurrent assets   266  —  285 
Total debt securities $ 40  $ 1,549  $ 38  $ 2,265 
Contractual maturities of available-for-sale debt securities
The contractual maturities of these available-for-sale debt securities as of December 31, 2021 were as follows (in millions):
Cost Estimated
Fair Value
Within 1 year $ 28  $ 28 
After 1 year through 5 years 1,355  1,241 
After 5 years through 10 years 88  98 
After 10 years 177  182 
Total $ 1,648  $ 1,549 
Realized Gain (Loss) on Investments
The sale and/or maturity of available-for-sale debt securities resulted in the following realized activity (in millions):
Year Ended December 31, 2021 2020 2019
Gross gains $ 6  $ 20  $ 39 
Gross losses (10) (13) (8)
Proceeds 1,197  1,559  3,956