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INVESTMENTS (Tables) | 6 Months Ended
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Jul. 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
July 1, 2022 |  |
Marketable securities | $ | 310 |  | $ | — |
Other investments | 614 |  | 41 |
Other noncurrent assets | 1,282 |  | — |
Total equity securities | $ | 2,206 |  | $ | 41 |
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
| July 1, 2022 | July 2, 2021
Net gains (losses) recognized during the period related to equity securities | $ | (261) |  | $ | 202 |
Less: Net gains (losses) recognized during the period related to equity securities sold during the period | (129) |  | 5 |
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period | $ | (132) |  | $ | 197 |
| Six Months Ended
| July 1, 2022 | July 2, 2021
Net gains (losses) recognized during the period related to equity securities | $ | (361) |  | $ | 357 |
Less: Net gains (losses) recognized during the period related to equity securities sold during the period | (254) |  | 19 |
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period | $ | (107) |  | $ | 338 |
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
July 1, 2022 |  |  |  |
Trading securities | $ | 42 |  | $ | — |  | $ | (4) |  | $ | 38 |
Available-for-sale securities | 1,882 |  | 22 |  | (158) |  | 1,746 |
Total debt securities | $ | 1,924 |  | $ | 22 |  | $ | (162) |  | $ | 1,784 |
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):
| July 1, 2022 |  | December 31, 2021
| Trading Securities | Available-for-Sale Securities |  | Trading Securities | Available-for-Sale Securities
Marketable securities | $ | 38 |  | $ | 1,519 |  |  | $ | 40 |  | $ | 1,283 |
Other noncurrent assets | — |  | 227 |  |  | — |  | 266 |
Total debt securities | $ | 38 |  | $ | 1,746 |  |  | $ | 40 |  | $ | 1,549 |
Contractual maturities of available-for-sale debt securities | The contractual maturities of these available-for-sale debt securities as of July 1, 2022 were as follows (in millions):
| Cost | Estimated Fair Value |  |  |
Within 1 year | $ | 61 |  | $ | 60 |  |  |  |
After 1 year through 5 years | 1,612 |  | 1,478 |  |  |  |
After 5 years through 10 years | 37 |  | 49 |  |  |  |
After 10 years | 172 |  | 159 |  |  |  |
Total | $ | 1,882 |  | $ | 1,746 |  |  |  |
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 |  | Six Months Ended
| July 1, 2022 | July 2, 2021 |  | July 1, 2022 | July 2, 2021
Gross gains | $ | 2 |  | $ | 1 |  |  | $ | 3 |  | $ | 2 |
Gross losses | (3) |  | (4) |  |  | (8) |  | (8) |
Proceeds | 113 |  | 809 |  |  | 344 |  | 967 |

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