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INVESTMENTS (Tables)

9 Months Ended

Sep. 27, 2024

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 27, 2024

Marketable securities	$	413	$	—
Other investments	2		42
Other noncurrent assets	1,679		—
Total equity securities	$	2,094	$	42
December 31, 2023

Marketable securities	$	345	$	—
Other investments	76		42
Other noncurrent assets	1,585		—
Total equity securities	$	2,006	$	42

Unrealized Gain (Loss) on Investments

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 27, 2024		September 29, 2023
Net gains (losses) recognized during the period related to equity securities	$	116	$	(61)
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	18		9
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	98	$	(70)


	Nine Months Ended
	September 27, 2024		September 29, 2023
Net gains (losses) recognized during the period related to equity securities	$	351	$	194
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	85		34
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	266	$	160

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 27, 2024
Trading securities	$	46	$	1	$	(1)	$	46
Available-for-sale securities	1,738		25		(58)		1,705
Total debt securities	$	1,784	$	26	$	(59)	$	1,751
December 31, 2023
Trading securities	$	43	$	—	$	(2)	$	41
Available-for-sale securities	1,136		26		(28)		1,134
Total debt securities	$	1,179	$	26	$	(30)	$	1,175

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 27, 2024				December 31, 2023
	Trading Securities		Available-for-Sale Securities		Trading Securities		Available-for-Sale Securities

Marketable securities	$	46	$	1,328	$	41	$	914
Other noncurrent assets	—		377		—		220
Total debt securities	$	46	$	1,705	$	41	$	1,134

Contractual maturities of available-for-sale debt securities

The contractual maturities of these available-for-sale debt securities as of September 27, 2024 were as follows (in millions):


	Cost		Estimated Fair Value
Within 1 year	$	328	$	326
After 1 year through 5 years	1,199		1,171
After 5 years through 10 years	38		44
After 10 years	173		164
Total	$	1,738	$	1,705

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 27, 2024		September 29, 2023		September 27, 2024		September 29, 2023
Gross gains	$	9	$	—	$	14	$	2
Gross losses	(1)		(3)		(10)		(7)
Proceeds	206		184		646		292