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Financial Instruments - Investments - Unrealized Gains and Losses Related to Equity Securities (Details) - USD ($)
$ in Millions
3 Months Ended
Apr. 02, 2023
Apr. 03, 2022
Fair Value Disclosures [Abstract]    
Net (gains)/losses recognized during the period on equity securities [1],[2] $ 451 $ 699
Less: Net (gains)/losses recognized during the period on equity securities sold during the period (33) (11)
Net unrealized (gains)/losses during the reporting period on equity securities still held at the reporting date [3] $ 485 $ 710
[1] Reported in Other (income)/deductions––net. See Note 4.
[2] The losses in the first quarter of 2023 include, among other things, unrealized losses of $363 million related to our investments in Cerevel Therapeutics Holdings, Inc. and BioNTech. The losses in the first quarter of 2022 included, among other things, unrealized losses of $473 million related to our investment in BioNTech.
[3] Included in net unrealized (gains)/losses are observable price changes on equity securities without readily determinable fair values. As of April 2, 2023, there were cumulative impairments and downward adjustments of $171 million and upward adjustments of $203 million. Impairments, downward and upward adjustments were not significant in the first quarters of 2023 and 2022.