INVESTMENTS (Tables)

6 Months Ended

Jun. 28, 2024

Investments, Debt and Equity Securities [Abstract]

Carrying value of equity securities by balance sheet location

The carrying values of our equity securities were included in the following line items in our consolidated balance sheets (in millions):

	Fair Value with Changes Recognized in Income		Measurement Alternative — No Readily Determinable Fair Value
June 28, 2024
Marketable securities	$	381	$	—
Other investments	125		42
Other noncurrent assets	1,628		—
Total equity securities	$	2,134	$	42
December 31, 2023
Marketable securities	$	345	$	—
Other investments	76		42
Other noncurrent assets	1,585		—
Total equity securities	$	2,006	$	42

Unrealized Gain (Loss) on Investments

The calculation of net unrealized gains and losses recognized during the period related to equity securities still held at the end of the period is as follows (in millions):

	Three Months Ended
	June 28, 2024		June 30, 2023
Net gains (losses) recognized during the period related to equity securities	$	52	$	130
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	4		22
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	48	$	108

	Six Months Ended
	June 28, 2024		June 30, 2023
Net gains (losses) recognized during the period related to equity securities	$	235	$	255
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	21		33
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	214	$	222

Schedule of available-for-sale and trading securities

Our debt securities consisted of the following (in millions):

			Gross Unrealized				Estimated Fair Value
	Cost		Gains		Losses
June 28, 2024
Trading securities	$	44	$	1	$	(1)	$	44
Available-for-sale securities	1,575		22		(58)		1,539
Total debt securities	$	1,619	$	23	$	(59)	$	1,583
December 31, 2023
Trading securities	$	43	$	—	$	(2)	$	41
Available-for-sale securities	1,136		26		(28)		1,134
Total debt securities	$	1,179	$	26	$	(30)	$	1,175

Carrying values of debt securities by balance sheet location

The carrying values of our debt securities were included in the following line items in our consolidated balance sheets (in millions):

	June 28, 2024				December 31, 2023
	Trading Securities		Available-for-Sale Securities		Trading Securities		Available-for-Sale Securities
Marketable securities	$	44	$	1,169	$	41	$	914
Other noncurrent assets	—		370		—		220
Total debt securities	$	44	$	1,539	$	41	$	1,134

Contractual maturities of available-for-sale debt securities

The contractual maturities of these available-for-sale debt securities as of June 28, 2024 were as follows (in millions):

	Cost		Estimated Fair Value
Within 1 year	$	187	$	187
After 1 year through 5 years	1,156		1,125
After 5 years through 10 years	46		56
After 10 years	186		171
Total	$	1,575	$	1,539

Realized Gain (Loss) on Investments

The sale and/or maturity of available-for-sale debt securities resulted in the following realized activity (in millions):

	Three Months Ended				Six Months Ended
	June 28, 2024		June 30, 2023		June 28, 2024		June 30, 2023
Gross gains	$	4	$	2	$	5	$	2
Gross losses	(2)		(1)		(9)		(4)
Proceeds	57		40		440		108