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INVESTMENTS (Tables) | 9 Months Ended
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Sep. 30, 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
September 30, 2022 |  |
Marketable securities | $ | 296 |  | $ | — |
Other investments | 542 |  | 40 |
Other noncurrent assets | 1,174 |  | — |
Total equity securities | $ | 2,012 |  | $ | 40 |
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
| September 30, 2022 | October 1, 2021
Net gains (losses) recognized during the period related to equity securities | $ | (38) |  | $ | 4 |
Less: Net gains (losses) recognized during the period related to equity securities sold during the period | (95) |  | 5 |
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period | $ | 57 |  | $ | (1) |
| Nine Months Ended
| September 30, 2022 | October 1, 2021
Net gains (losses) recognized during the period related to equity securities | $ | (399) |  | $ | 361 |
Less: Net gains (losses) recognized during the period related to equity securities sold during the period | (350) |  | 33 |
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period | $ | (49) |  | $ | 328 |
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
September 30, 2022 |  |  |  |
Trading securities | $ | 43 |  | $ | — |  | $ | (4) |  | $ | 39 |
Available-for-sale securities | 1,960 |  | 22 |  | (131) |  | 1,851 |
Total debt securities | $ | 2,003 |  | $ | 22 |  | $ | (135) |  | $ | 1,890 |
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):
| September 30, 2022 |  | December 31, 2021
| Trading Securities | Available-for-Sale Securities |  | Trading Securities | Available-for-Sale Securities
Marketable securities | $ | 39 |  | $ | 1,638 |  |  | $ | 40 |  | $ | 1,283 |
Other noncurrent assets | — |  | 213 |  |  | — |  | 266 |
Total debt securities | $ | 39 |  | $ | 1,851 |  |  | $ | 40 |  | $ | 1,549 |
Contractual maturities of available-for-sale debt securities | The contractual maturities of these available-for-sale debt securities as of September 30, 2022 were as follows (in millions):
| Cost | Estimated Fair Value |  |  |
Within 1 year | $ | 352 |  | $ | 342 |  |  |  |
After 1 year through 5 years | 1,409 |  | 1,317 |  |  |  |
After 5 years through 10 years | 35 |  | 47 |  |  |  |
After 10 years | 164 |  | 145 |  |  |  |
Total | $ | 1,960 |  | $ | 1,851 |  |  |  |
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 |  | Nine Months Ended
| September 30, 2022 | October 1, 2021 |  | September 30, 2022 | October 1, 2021
Gross gains | $ | 2 |  | $ | 2 |  |  | $ | 5 |  | $ | 4 |
Gross losses | (43) |  | — |  |  | (51) |  | (8) |
Proceeds | 135 |  | 91 |  |  | 479 |  | 1,058 |

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