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Equity Securities (Tables)
6 Months Ended
Jun. 30, 2022
Investments Debt And Equity Securities [Abstract]  
Summary of Investments in Equity Securities, by Accounting Classification

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

 

(in millions)

 

June 30,
2022

 

 

December 31,
2021

 

Marketable equity securities

 

$

392

 

 

$

657

 

Non-marketable equity securities

 

 

511

 

 

 

441

 

Equity method investments

 

 

66

 

 

 

78

 

 

 

$

969

 

 

$

1,176

 

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

 

June 30, 2022

 

 

 

 

 

 

 

 

 

 

Common stocks

$

374

 

$

4

 

 

$

378

 

Preferred stocks

 

16

 

 

(2

)

 

 

14

 

 

$

390

 

$

2

 

 

$

392

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

Common stocks

$

418

 

 

222

 

 

 

640

 

Preferred stocks

 

17

 

$

 

 

$

17

 

 

$

435

 

$

222

 

 

$

657

 

 

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

 

June 30, 2022

 

$

281

 

 

$

230

 

 

$

511

 

December 31, 2021

 

$

215

 

 

$

226

 

 

$

441