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AVAILABLE-FOR-SALE DEBT SECURITIES AND EQUITY SECURITIES | 9 Months Ended
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Sep. 30, 2022
Debt Securities, Available-for-Sale [Abstract] |
AVAILABLE-FOR-SALE DEBT SECURITIES AND EQUITY SECURITIES | AVAILABLE-FOR-SALE DEBT SECURITIES AND EQUITY SECURITIES Available-for-Sale Debt Securities The following table summarizes our available-for-sale debt securities:
|  | September 30, 2022 |  | December 31, 2021
(in millions) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
U.S. treasury securities |  | $ | 456 |  |  | $ | — |  |  | $ | (7) |  |  | $ | 448 |  |  | $ | 408 |  |  | $ | — |  |  | $ | (1) |  |  | $ | 407 |
U.S. government agencies securities |  | 19 |  |  | — |  |  | — |  |  | 19 |  |  | 4 |  |  | — |  |  | — |  |  | 4 |
Non-U.S. government securities |  | 44 |  |  | — |  |  | — |  |  | 44 |  |  | 50 |  |  | — |  |  | — |  |  | 50 |
Certificates of deposit |  | 65 |  |  | — |  |  | — |  |  | 65 |  |  | 249 |  |  | — |  |  | — |  |  | 249 |
Corporate debt securities |  | 1,397 |  |  | — |  |  | (30) |  |  | 1,367 |  |  | 1,365 |  |  | — |  |  | (2) |  |  | 1,363 |
Residential mortgage and asset-backed securities |  | 350 |  |  | — |  |  | (3) |  |  | 347 |  |  | 425 |  |  | — |  |  | (1) |  |  | 424 |
Total |  | $ | 2,331 |  |  | $ | — |  |  | $ | (40) |  |  | $ | 2,290 |  |  | $ | 2,501 |  |  | $ | — |  |  | $ | (4) |  |  | $ | 2,497 |
The aggregate fair value of investments with unrealized losses was $2.1 billion and $2.0 billion as of September 30, 2022 and December 31, 2021, respectively. No allowance for credit losses was recognized for investments with unrealized losses as of September 30, 2022, as we do not currently intend to sell, and it is not more likely than not that we will be required to sell, such investments before recovery of their amortized cost bases. The unrealized losses were primarily driven by broader change in interest rates with no adverse conditions identified that would prevent the issuer from making scheduled principal and interest payments. The following table summarizes the classification of our available-for-sale debt securities in our Condensed Consolidated Balance Sheets:
(in millions) |  | September 30, 2022 |  | December 31, 2021
Cash and cash equivalents |  | $ | 47 |  |  | $ | 6 |
Short-term marketable debt securities |  | 961 |  |  | 1,182 |
Long-term marketable debt securities |  | 1,282 |  |  | 1,309 |
Total |  | $ | 2,290 |  |  | $ | 2,497 |
The following table summarizes our available-for-sale debt securities by contractual maturity:
|  | September 30, 2022
(in millions) |  | Amortized Cost |  | Fair Value
Within one year |  | $ | 1,018 |  |  | $ | 1,008 |
After one year through five years |  | 1,298 |  |  | 1,268 |
After five years through ten years |  | 7 |  |  | 7 |
After ten years |  | 7 |  |  | 7 |
Total |  | $ | 2,331 |  |  | $ | 2,290 |
Equity Securities Equity Securities Measured at Fair Value The following table summarizes the classification of our equity securities measured at fair value on a recurring basis on our Condensed Consolidated Balance Sheets. Prepaid and other current assets and Other long-term assets include our equity method investments in Arcus and Galapagos, respectively, for which we elected and applied the fair value option as we believe it best reflects the underlying economics of these investments.
(in millions) |  | September 30, 2022 |  | December 31, 2021
Cash and cash equivalents |  | $ | 3,316 |  |  | $ | 3,661 |
Prepaid and other current assets |  | 578 |  |  | 885 |
Other long-term assets |  | 899 |  |  | 1,197 |
Total |  | $ | 4,793 |  |  | $ | 5,743 |
Other Equity Securities Equity method investments and other equity investments without readily determinable fair values were $415 million and $338 million as of September 30, 2022 and December 31, 2021, respectively, and were included in Other long-term assets on our Condensed Consolidated Balance Sheets. Unrealized Gains and Losses Net unrealized losses recognized on equity securities were $197 million and $596 million for the three and nine months ended September 30, 2022, and $142 million and $667 million for the three and nine months ended September 30, 2021, respectively, and were included in Other income (expense), net on our Condensed Consolidated Statements of Income. Related Party Transaction During the nine months ended September 30, 2022 and 2021, Gilead donated certain equity securities at fair value to the Gilead Foundation, a California nonprofit public benefit corporation (the “Foundation”). The Foundation is a related party as certain of our officers also serve as directors of the Foundation. The donation expense of $85 million and $212 million was recorded within Selling, general and administrative expenses on our Condensed Consolidated Statements of Income during the nine months ended September 30, 2022 and 2021, respectively.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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