Investments (Tables)

9 Months Ended

Sep. 30, 2020

Investments [Abstract]

Summary of Investment Holdings

The Company’s equity investments consisted of the following (in millions).

Category	Balance Sheet Location	Ownership	September 30, 2020		December 31, 2019
Equity method investments:
nC+	Equity method investments	32%	$	176	$	182
Discovery Solar Ventures, LLC (a)	Equity method investments	N/A	85		92
All3Media	Equity method investments	50%	45		75
Other	Equity method investments		230		219
Total equity method investments			536		568
Common stock investments with readily determinable fair values	Other noncurrent assets		46		51
Equity investments without readily determinable fair values:
Group Nine Media (b)	Other noncurrent assets	25%	276		256
Formula E (c)	Other noncurrent assets	25%	65		65
Other	Other noncurrent assets		230		193
Total equity investments without readily determinable fair values			571		514
Total investments			$	1,153	$	1,133
(a) Discovery Solar Ventures, LLC invests in limited liability companies that sponsor renewable energy projects related to solar energy. These investments are considered variable interest entities ("VIEs") of the Company and are accounted for under the equity method of accounting using the Hypothetical Liquidation at Book Value ("HLBV") methodology for allocating earnings.
(b) Overall ownership percentage for Group Nine Media is calculated on an outstanding shares basis. The amount shown herein includes a $20 million note receivable balance within Prepaid expenses and other current assets on the Company's consolidated balance sheets.
(c) Ownership percentage for Formula E includes holdings accounted for as an equity method investment and holdings accounted for as an equity investment without a readily determinable fair value.

Schedule of Unrealized Gains and Losses Related To Common Stock Investments with Readily Determinable Fair Value

The gains and losses related to the Company's common stock investments with readily determinable fair values for the three and nine months ended September 30, 2020 and 2019 are summarized in the table below (in millions).

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net income (losses) recognized during the period on equity securities	$	9	$	(15)	$	(6)	$	(32)
Less: Net losses (gains) recognized on equity securities sold	—		—		—		—
Unrealized income (losses) recognized during reporting period on equity securities still held at the reporting date	$	9	$	(15)	$	(6)	$	(32)