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Financial Instruments - Investments - Unrealized Gains and Losses Related to Equity Securities (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 28, 2020
Jun. 30, 2019
Jun. 28, 2020
Jun. 30, 2019
Financial Instruments [Abstract]        
Net gains recognized during the period on investments in equity securities [1],[2] $ (732) $ (36) $ (478) $ (147)
Less: Net (gains)/losses recognized during the period on equity securities sold during the period 1 (6) (18) (10)
Net unrealized gains during the reporting period on equity securities still held at the reporting date [3] $ (733) $ (31) $ (459) $ (137)
[1]
The gains in the second quarter of 2020 include, among other things, unrealized gains of $508 million related to our investment in Allogene and unrealized gains of $61 million related to our investment in BioNTech. The gains in the first six months of 2020 include, among other things, unrealized gains of $374 million related to our investment in Allogene and unrealized gains of $127 million related to our investment in BioNTech. The gains in the first six months of 2019 included, among other things, unrealized gains of $104 million related to our investment in Cortexyme, Inc. For additional information on investments, see Note 7B.
[2]
The net gains on investments in equity securities are reported in Other (income)/deductions––net. For additional information, see Note 4.
[3]  
Included in net unrealized gains are observable price changes on equity securities without readily determinable fair values. Since January 1, 2018, there were cumulative impairments and downward adjustments of $67 million and upward adjustments of $66 million. Impairments, downward and upward adjustments were not significant in the second quarter and the first six months of 2020 and 2019.