Investments (Tables)

6 Months Ended

Jul. 01, 2023

Investments, Debt and Equity Securities [Abstract]

Investments Classified by Contractual Maturity Date [Table Text Block]

The fair value of marketable debt investments, by contractual maturity, as of July 1, 2023, was as follows:

(In Millions)	Fair Value
Due in 1 year or less	$	10,441
Due in 1–2 years	1,958
Due in 2–5 years	5,352
Due after 5 years	725
Instruments not due at a single maturity date1	3,142
Total	$	21,618

1 Instruments not due at a single maturity date is comprised of money market fund deposits, which are classified as either short-term investments or cash and cash equivalents.

Investment [Table Text Block]

(In Millions)	Jul 1, 2023		Dec 31, 2022
Marketable equity securities1	$	1,295	$	1,341
Non-marketable equity securities	4,589		4,561
Equity method investments	9		10
Total	$	5,893	$	5,912

1    Over 90% of our marketable equity securities are subject to trading-volume or market-based restrictions, which limit the number of shares we may sell in a specified period of time, impacting our ability to liquidate these investments. The trading volume restrictions generally apply for as long as we own more than 1% of the outstanding shares. Market-based restrictions result from the rules of the respective exchange.

Gain (Loss) on Securities [Table Text Block]

The components of gains (losses) on equity investments, net for each period were as follows:

	Three Months Ended				Six Months Ended
(In Millions)	Jul 1, 2023		Jul 2, 2022		Jul 1, 2023		Jul 2, 2022
Ongoing mark-to-market adjustments on marketable equity securities	$	(85)	$	(209)	$	103	$	(639)
Observable price adjustments on non-marketable equity securities	—		135		10		206
Impairment charges	(38)		(44)		(74)		(67)
Sale of equity investments and other1	99		28		106		4,733
Total gains (losses) on equity investments, net	$	(24)	$	(90)	$	145	$	4,233

1 Sale of equity investments and other includes initial fair value adjustments recorded upon a security becoming marketable, realized gains (losses) on sales of non-marketable equity investments and equity method investments, and our share of equity method investee gains (losses) and distributions.

Net unrealized gains and losses for our marketable and non-marketable equity securities for each period were as follows:

	Three Months Ended				Six Months Ended
(In Millions)	Jul 1, 2023		Jul 2, 2022		Jul 1, 2023		Jul 2, 2022
Net unrealized gains (losses) recognized during the period on equity securities	$	(26)	$	(93)	$	141	$	(337)
Less: Net (gains) losses recognized during the period on equity securities sold during the period	28		(19)		(7)		(11)
Net unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date	$	2	$	(112)	$	134	$	(348)