Investments in equity securities (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of investments in equity securities

Investments in equity securities as of December 31, 2022 and 2021 are summarized based on the primary industry of the investee in the table below (in millions).

	Cost Basis		Net Unrealized Gains		Fair Value
December 31, 2022 *
Banks, insurance and finance	$	25,893	$	43,663	$	69,556
Consumer products		40,508		112,384		152,892
Commercial, industrial and other		65,209		21,136		86,345
	$	131,610	$	177,183	$	308,793

* Approximately 75% of the aggregate fair value was concentrated in five companies (American Express Company – $22.4 billion; Apple Inc. – $119.0 billion; Bank of America Corporation – $34.2 billion; The Coca-Cola Company – $25.4 billion and Chevron Corporation – $30.0 billion).

	Cost Basis		Net Unrealized Gains		Fair Value
December 31, 2021 *
Banks, insurance and finance	$	26,822	$	62,236	$	89,058
Consumer products		36,076		154,945		191,021
Commercial, industrial and other		41,707		28,933		70,640
	$	104,605	$	246,114	$	350,719

* Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 billion).