XML 107 R76.htm IDEA: XBRL DOCUMENT v3.22.4
Financial Instruments - Investments - Unrealized Gains and Losses Related to Equity Securities (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Fair Value Disclosures [Abstract]      
Net (gains)/losses recognized during the period on investments in equity securities [1],[2] $ 1,273 $ (1,344) $ (540)
Less: Net (gains)/losses recognized during the period on equity securities sold during the period (126) (80) (24)
Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date [3] $ 1,400 $ (1,264) $ (515)
[1] Reported in Other (income)/deductions––net. See Note 4.
[2] (b)2022 losses include, among other things, unrealized losses of $986 million related to investments in BioNTech, Allogene Therapeutics, Inc. and Arvinas. 2021 gains included, among other things, unrealized gains of $1.6 billion related to investments in BioNTech and Cerevel Therapeutics Holdings, Inc. 2020 gains included, among other things, unrealized gains of $405 million related to investments in BioNTech and SpringWorks Therapeutics, Inc.
[3] Included in net unrealized (gains)/losses are observable price changes on equity securities without readily determinable fair values. As of December 31, 2022, there were cumulative impairments and downward adjustments of $193 million and upward adjustments of $203 million. Impairments, downward and upward adjustments were not significant in 2022, 2021 and 2020