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Investments

3 Months Ended

Mar. 31, 2022

Schedule of Investments [Abstract]

Investments

4.  Investments

Investment

Investments and securities sold, not yet purchased consist of equities, bonds, bank debt and other corporate obligations, all of which are reported at fair value in our condensed consolidated balance sheets. In addition, our Investment segment has certain derivative transactions which are discussed in Note 6, “Financial Instruments.” The carrying value and detail by security type, including business sector for equity securities, with respect to investments and securities sold, not yet purchased held by our Investment segment consist of the following:

​

​	​	​	​	​	​	​
​	​	March 31,		​	December 31,
​		2022			2021
​	​	(in millions)
Assets	​	​	​	​	​	​
Investments:		​			​
Equity securities:		​			​
Communications	​	$	343	​	$	352
Consumer, cyclical	​		959	​		1,281
Energy	​		1,956	​		3,184
Utilities	​		1,097	​		992
Healthcare	​		842	​		1,009
Technology	​		845	​		931
Materials	​		185	​		194
Industrial	​		937	​		895
​	​		7,164	​		8,838
Corporate debt securities	​		112	​		114
​	​	$	7,276	​	$	8,952
Liabilities	​			​
Securities sold, not yet purchased, at fair value:	​			​
Equity securities:	​			​
Consumer, cyclical	​	$	813	​	$	848
Energy	​		1,581	​		2,028
Utilities	​		813	​		659
Healthcare	​		990	​		1,049
Materials	​		282	​		365
Industrial	​	​	297	​	​	391
​	​	$	4,776	​	$	5,340

​

The portion of unrealized gains that relates to securities still held by our Investment segment, primarily equity securities, was $403 million and $1,122 million for the three months ended March 31, 2022 and 2021, respectively.

Other Segments and Holding Company

With the exception of certain equity method investments at our operating subsidiaries and our Holding Company disclosed in the table below, our investments are measured at fair value in our condensed consolidated balance sheets. The carrying value of investments held by our other segments and our Holding Company consist of the following:

​

​	​	​	​	​	​	​
​	​	March 31,		​	December 31,
​		2022			2021
​	​	(in millions)
Equity method investments	​	$	78	​	$	79
Other investments measured at fair value	​		43	​		120
​	​	$	121	​	$	199

​

The portion of unrealized gains that relates to equity securities still held by our other segments and Holding Company was .$58 million for each of the three months ended March 31, 2022 and 2021.

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