Investments (Tables)

12 Months Ended

Dec. 31, 2022

Investments [Abstract]

Amortized Cost and Fair Value of the Trust Investments

		Amortized Costs				Fair Value
	Longest	December 31,		December 31,		December 31,		December 31,
(in millions)	Maturity Date	2022		2021		2022		2021
Municipal bonds	2061	$	672	$	875	$	754	$	1,033
Government and agency securities	2072		1,025		1,095		1,091		1,212
Corporate bonds	2070		351		386		377		446
Short-term investments and receivables/payables1	One-year		110		199		116		207
Total debt securities and other		$	2,158	$	2,555		2,338		2,898
Equity securities							1,610		1,972
Total						$	3,948	$	4,870

1 Short-term investments include $41 million and $37 million of repurchase agreements payable by financial institutions which earn interest, were 97% and fully secured by U.S. Treasury securities and mature by January 3, 2023 and January 3, 2022 as of December 31, 2022 and 2021, respectively.

Summary of gains and losses

	Years ended December 31,
(in millions)	2022		2021		2020
Gross realized gains	$	150	$	339	$	255
Gross realized losses		(127)		(24)		(6)
Net unrealized (losses)/gains for equity securities		(369)		103		176

Summarizes of unrealized gains/(losses)

	Years ended December 31,
(in millions)	2022		2021		2020
Marketable securities	$	(6)	$	3	$	—
Equity investments without readily determinable fair values - upward adjustments		8		1		—
Total unrealized gains	$	2	$	4	$	—