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Investments and Restricted Cash and Investments
6 Months Ended
Jun. 30, 2020
Restricted Cash and Cash Equivalents Items [Line Items]  
Investments and Restricted Cash and Investments
Investments and Restricted Cash and Cash Equivalents and Investments

Investments and restricted cash and cash equivalents and investments consists of the following (in millions):
 
As of
 
June 30,
 
December 31,
 
2020
 
2019
Investments:
 
 
 
BYD Company Limited common stock
$
1,737

 
$
1,122

Rabbi trusts
396

 
410

Other
191

 
187

Total investments
2,324

 
1,719

 
 

 
 

Equity method investments:
 
 
 
BHE Renewables tax equity investments
4,183

 
3,130

Electric Transmission Texas, LLC
580

 
555

Bridger Coal Company
83

 
81

Other
108

 
181

Total equity method investments
4,954

 
3,947

 
 
 
 
Restricted cash and cash equivalents and investments:
 

 
 

Quad Cities Station nuclear decommissioning trust funds
607

 
599

Other restricted cash and cash equivalents
255

 
230

Total restricted cash and cash equivalents and investments
862

 
829

 
 

 
 

Total investments and restricted cash and cash equivalents and investments
$
8,140

 
$
6,495

 
 
 
 
Reflected as:
 
 
 
Current assets
$
266

 
$
240

Noncurrent assets
7,874

 
6,255

Total investments and restricted cash and cash equivalents and investments
$
8,140

 
$
6,495



Investments

Gains (losses) on marketable securities, net recognized during the period consists of the following (in millions):
 
Three-Month Periods
 
Six-Month Periods
 
Ended June 30,
 
Ended June 30,
 
2020
 
2019
 
2020
 
2019
Unrealized gains (losses) recognized on marketable securities still held at the reporting date
$
584

 
$
7

 
$
609

 
$
(61
)
Net (losses) gains recognized on marketable securities sold during the period
(1
)
 
(1
)
 
1

 
(1
)
Gains (losses) on marketable securities, net
$
583

 
$
6

 
$
610

 
$
(62
)


Cash and Cash Equivalents and Restricted Cash and Cash Equivalents

Cash equivalents consist of funds invested in money market mutual funds, United States Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted cash and cash equivalents as of June 30, 2020 and December 31, 2019, consist substantially of funds restricted for the purpose of constructing solid waste facilities under tax-exempt bond obligation agreements and debt service obligations for certain of the Company's nonregulated renewable energy projects. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents as of June 30, 2020 and December 31, 2019, as presented in the Consolidated Statements of Cash Flows is outlined below and disaggregated by the line items in which they appear on the Consolidated Balance Sheets (in millions):
 
As of
 
June 30,
 
December 31,
 
2020
 
2019
Cash and cash equivalents
$
1,815

 
$
1,040

Restricted cash and cash equivalents
237

 
212

Investments and restricted cash and cash equivalents and investments
18

 
16

Total cash and cash equivalents and restricted cash and cash equivalents
$
2,070

 
$
1,268