Investments

6 Months Ended

Jun. 30, 2011

Investments

Investments

Note 6: Investments

	June 30,		December 31,
(in millions)	2011		2010
Fair value method	$	3,343	$	2,815
Equity method, primarily SpectrumCo and Clearwire		2,053		2,193
Cost method, primarily AirTouch redeemable preferred shares		1,754		1,743
Acquired NBCUniversal investments		3,743		—
Total investments		10,893		6,751
Less: Current investments		64		81
Noncurrent investments	$	10,829	$	6,670

Investments acquired in connection with the NBCUniversal transaction primarily include equity method investments in A&E Television Networks, LLC (16%); Universal City Development Partners ("UCDP") (50%) (see Note 18), which consists of the ownership and operation of two theme parks in Orlando, Florida; The Weather Channel (25%); and MSNBC.com (50%); and cost method investments, primarily in Hulu (32%). See Note 4 for additional information on the NBCUniversal transaction.

Components of Investment Income (Loss), Net

	Three Months Ended June 30						Six Months Ended June 30
(in millions)	2011			2010			2011			2010
Gains on sales and exchanges of investments, net	$	7		$	9		$	21		$	11
Investment impairment losses		(3	)		(6	)		(3	)		(14	)
Unrealized gains (losses) on securities underlying prepaid forward sale agreements		226			(129	)		535			231
Mark to market adjustments on derivative component of prepaid forward sale agreements		(187	)		131			(452	)		(146	)
Mark to market adjustments on derivative component of ZONES		1			1			5			2
Interest and dividend income		26			23			52			45
Other, net		(9	)		(29	)		(8	)		(28	)
Investment income (loss), net	$	61		$	—		$	150		$	101