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Equity Securities (Tables)
12 Months Ended
Dec. 31, 2021
Investments Debt And Equity Securities [Abstract]  
Summary of Investments in Equity Securities, by Classification

Investments in equity securities, by classification, are summarized as follows:

 

 

 

December 31,

 

(in millions)

 

2021

 

 

2020

 

Marketable equity securities

 

$

657

 

 

$

464

 

Non-marketable equity securities

 

 

441

 

 

 

217

 

Equity method investments

 

 

78

 

 

 

69

 

 

 

$

1,176

 

 

$

750

 

Summary of Investments in Marketable Equity Securities

Investments in marketable equity securities are summarized as follows:

(in millions)

Cost

 

 

Unrealized gains (losses)

 

 

Estimated

fair value

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

Preferred stocks

$

17

 

$

 

 

$

17

 

Common stocks

 

418

 

 

222

 

 

 

640

 

 

$

435

 

$

222

 

 

$

657

 

December 31, 2020

 

 

 

 

 

 

 

 

 

 

Preferred stocks

$

22

 

$

(3

)

 

$

19

 

Common stocks

 

354

 

 

91

 

 

 

445

 

 

$

376

 

$

88

 

 

$

464

 

Summary of Investments in Non-Marketable Equity Securities

Investments in non-marketable equity securities are summarized as follows:

(in millions)

 

Cost

 

 

 

Unrealized gains

 

 

Carrying amount

 

December 31, 2021

 

$

215

 

 

$

226

 

 

$

441

 

December 31, 2020

 

$

201

 

 

$

16

 

 

$

217