XML 40 R30.htm IDEA: XBRL DOCUMENT

INVESTMENTS (Tables)

9 Months Ended

Sep. 29, 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
September 29, 2023

Marketable securities	$	307	$	—
Other investments	63		41
Other noncurrent assets	1,429		—
Total equity securities	$	1,799	$	41
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
	September 29, 2023		September 30, 2022
Net gains (losses) recognized during the period related to equity securities	$	(61)	$	(38)
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	9		(95)
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	(70)	$	57


	Nine Months Ended
	September 29, 2023		September 30, 2022
Net gains (losses) recognized during the period related to equity securities	$	194	$	(399)
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	34		(350)
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	160	$	(49)

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 29, 2023
Trading securities	$	43	$	—	$	(4)	$	39
Available-for-sale securities	1,099		22		(47)		1,074
Total debt securities	$	1,142	$	22	$	(51)	$	1,113
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):


	September 29, 2023				December 31, 2022
	Trading Securities		Available-for-Sale Securities		Trading Securities		Available-for-Sale Securities

Marketable securities	$	39	$	874	$	39	$	722
Other noncurrent assets	—		200		—		222
Total debt securities	$	39	$	1,074	$	39	$	944

Contractual maturities of available-for-sale debt securities

The contractual maturities of these available-for-sale debt securities as of September 29, 2023 were as follows (in millions):


	Cost		Estimated Fair Value
Within 1 year	$	479	$	472
After 1 year through 5 years	393		400
After 5 years through 10 years	35		43
After 10 years	192		159
Total	$	1,099	$	1,074

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 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Gross gains	$	—	$	2	$	2	$	5
Gross losses	(3)		(43)		(7)		(51)
Proceeds	184		135		292		479