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Financial Instruments - Investments - Unrealized Gains and Losses Related to Equity Securities (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Fair Value Disclosures [Abstract]    
Net (gains)/losses recognized during the period on equity securities [1],[2] $ 370 $ (25)
Less: Net (gains)/losses recognized during the period on equity securities sold during the period (924) (214)
Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date [3] $ 1,295 $ 188
[1] The net losses in the first quarter of 2025 include, among other things, a net loss of $144 million related to our investment in Haleon, composed of unrealized losses of $1.0 billion, partially offset by $900 million in realized gains on the sales of our remaining investment.
[2] Reported in Other (income)/deductions––net. See Note 4.
[3] Included in net unrealized (gains)/losses are observable price changes on equity securities without readily determinable fair values. As of March 30, 2025, there were cumulative impairments and downward adjustments of $400 million and upward adjustments of $223 million. Impairments, downward and upward adjustments were not material to our operations in the first quarters of 2025 and 2024.