Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS (Tables)

v3.23.1
INVESTMENTS (Tables)
 3 Months Ended
Mar. 31, 2023
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
March 31, 2023
Marketable securities $ 310  $ — 
Other investments 295  42 
Other noncurrent assets 1,403  — 
Total equity securities $ 2,008  $ 42 
December 31, 2022
Marketable securities $ 308  $ — 
Other investments 459  42 
Other noncurrent assets 1,303  — 
Total equity securities $ 2,070  $ 42 
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 period related to equity securities still held at the end of the period is as follows (in millions):
Three Months Ended
March 31,
2023		 April 1,
2022
Net gains (losses) recognized during the period related to equity securities $ 125  $ (100)
Less: Net gains (losses) recognized during the period related to equity securities sold
during the period
1  (132)
Net unrealized gains (losses) recognized during the period related to equity securities
still held at the end of the period
 $ 124  $ 32 
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
March 31, 2023
Trading securities
 $ 43  $ —  $ (4) $ 39 
Available-for-sale securities
 1,027  23  (47) 1,003 
Total debt securities
 $ 1,070  $ 23  $ (51) $ 1,042 
December 31, 2022
Trading securities
 $ 43  $ —  $ (4) $ 39 
Available-for-sale securities
 979  26  (61) 944 
Total debt securities
 $ 1,022  $ 26  $ (65) $ 983 
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):
March 31, 2023 December 31, 2022
Trading Securities Available-for-Sale Securities Trading Securities Available-for-Sale Securities
Marketable securities
 $ 39  $ 776  $ 39  $ 722 
Other noncurrent assets
 —  227  —  222 
Total debt securities $ 39  $ 1,003  $ 39  $ 944 
Contractual maturities of available-for-sale debt securities
The contractual maturities of these available-for-sale debt securities as of March 31, 2023 were as follows (in millions):
Cost Estimated
Fair Value
Within 1 year $ 457  $ 440 
After 1 year through 5 years 352  357 
After 5 years through 10 years 39  48 
After 10 years 179  158 
Total $ 1,027  $ 1,003 
Realized Gain (Loss) on Investments
The sale and/or maturity of available-for-sale debt securities resulted in the following realized activity (in millions):
Three Months Ended
March 31,
2023		 April 1,
2022
Gross gains $ —  $ 1 
Gross losses (3) (5)
Proceeds 68  231