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INVESTMENTS (Tables)

3 Months Ended

Apr. 01, 2022

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
April 1, 2022

Marketable securities	$	357	$	—
Other investments	745		43
Other noncurrent assets	1,493		—
Total equity securities	$	2,595	$	43
December 31, 2021

Marketable securities	$	376	$	—
Other investments	771		47
Other noncurrent assets	1,576		—
Total equity securities	$	2,723	$	47

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
	April 1, 2022		April 2, 2021
Net gains (losses) recognized during the period related to equity securities	$	(100)	$	155
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	(132)		14
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	32	$	141

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
April 1, 2022
Trading securities	$	41	$	—	$	(1)	$	40
Available-for-sale securities	1,933		25		(165)		1,793
Total debt securities	$	1,974	$	25	$	(166)	$	1,833
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

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):


	April 1, 2022				December 31, 2021
	Trading Securities		Available-for-Sale Securities		Trading Securities		Available-for-Sale Securities

Marketable securities	$	40	$	1,542	$	40	$	1,283
Other noncurrent assets	—		251		—		266
Total debt securities	$	40	$	1,793	$	40	$	1,549

Contractual maturities of available-for-sale debt securities

The contractual maturities of these available-for-sale debt securities as of April 1, 2022 were as follows (in millions):


	Cost		Estimated Fair Value
Within 1 year	$	70	$	68
After 1 year through 5 years	1,649		1,504
After 5 years through 10 years	43		57
After 10 years	171		164
Total	$	1,933	$	1,793

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
		April 1, 2022		April 2, 2021
Gross gains		$	1	$	1
Gross losses		(5)		(4)
Proceeds		231		158