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INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2023

Marketable securities	$	327	$	—
Other investments	116		42
Other noncurrent assets	1,481		—
Total equity securities	$	1,924	$	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
	June 30, 2023		July 1, 2022
Net gains (losses) recognized during the period related to equity securities	$	130	$	(261)
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	22		(129)
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	108	$	(132)


	Six Months Ended
	June 30, 2023		July 1, 2022
Net gains (losses) recognized during the period related to equity securities	$	255	$	(361)
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	33		(254)
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	222	$	(107)

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
June 30, 2023
Trading securities	$	42	$	—	$	(4)	$	38
Available-for-sale securities	1,140		23		(44)		1,119
Total debt securities	$	1,182	$	23	$	(48)	$	1,157
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):


	June 30, 2023				December 31, 2022
	Trading Securities		Available-for-Sale Securities		Trading Securities		Available-for-Sale Securities

Marketable securities	$	38	$	898	$	39	$	722
Other noncurrent assets	—		221		—		222
Total debt securities	$	38	$	1,119	$	39	$	944

Contractual maturities of available-for-sale debt securities

The contractual maturities of these available-for-sale debt securities as of June 30, 2023 were as follows (in millions):


	Cost		Estimated Fair Value
Within 1 year	$	502	$	489
After 1 year through 5 years	422		434
After 5 years through 10 years	32		36
After 10 years	184		160
Total	$	1,140	$	1,119

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
	June 30, 2023		July 1, 2022		June 30, 2023		July 1, 2022
Gross gains	$	2	$	2	$	2	$	3
Gross losses	(1)		(3)		(4)		(8)
Proceeds	40		113		108		344