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Investments and Restricted Cash, Cash Equivalents and Investments
 6 Months Ended
Jun. 30, 2022
Restricted Cash and Cash Equivalents Items [Line Items]  
Investments and Restricted Cash, Cash Equivalents and Investments Investments and Restricted Cash, Cash Equivalents and Investments
Investments and restricted cash, cash equivalents and investments consists of the following (in millions):
 As of
 June 30,December 31,
20222021
Investments:
BYD Company Limited common stock$9,003 $7,693 
Rabbi trusts429 492 
Other328 305 
Total investments9,760 8,490 
   
Equity method investments:
BHE Renewables tax equity investments4,680 4,931 
Iroquois Gas Transmission System, L.P.742 735 
Electric Transmission Texas, LLC606 595 
Other302 293 
Total equity method investments6,330 6,554 
Restricted cash, cash equivalents and investments:  
Quad Cities Station nuclear decommissioning trust funds658 768 
Other restricted cash and cash equivalents220 148 
Total restricted cash, cash equivalents and investments878 916 
   
Total investments and restricted cash, cash equivalents and investments$16,968 $15,960 
Reflected as:
Current assets$240 $172 
Noncurrent assets16,728 15,788 
Total investments and restricted cash, cash equivalents and investments$16,968 $15,960 

Investments

Gains on marketable securities, net recognized during the period consists of the following (in millions):
Three-Month PeriodsSix-Month Periods
Ended June 30,Ended June 30,
2022202120222021
Unrealized gains recognized on marketable securities still held at the reporting date$2,527 $1,966 $1,270 $847 
Net gains recognized on marketable securities sold during the period1 — 1 1 
Gains on marketable securities, net$2,528 $1,966 $1,271 $848 
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents

Cash equivalents consist of funds invested in money market mutual funds, U.S. 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 consist substantially of funds restricted for 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 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,
20222021
Cash and cash equivalents$2,081 $1,096 
Restricted cash and cash equivalents201 127 
Investments and restricted cash, cash equivalents and investments19 21 
Total cash and cash equivalents and restricted cash and cash equivalents$2,301 $1,244 
EEGH  
Restricted Cash and Cash Equivalents Items [Line Items]  
Investments and Restricted Cash, Cash Equivalents and Investments Investments and Restricted Cash and Cash Equivalents
Investments and restricted cash and cash equivalents consists of the following (in millions):
As of
June 30,December 31,
20222021
Investments:
Investment funds$13 $13 
Equity method investments:
Iroquois406 399 
Total investments419 412 
Restricted cash and cash equivalents:
Customer deposits25 17 
Total restricted cash and cash equivalents25 17 
Total investments and restricted cash and cash equivalents$444 $429 
Reflected as:
Current assets$25 $17 
Noncurrent assets419 412 
Total investments and restricted cash and cash equivalents$444 $429 
Equity Method Investments

Eastern Energy Gas, through a subsidiary, owns 50% of Iroquois, which owns and operates an interstate natural gas pipeline located in the states of New York and Connecticut.

As of both June 30, 2022 and December 31, 2021, the carrying amount of Eastern Energy Gas' investments exceeded its share of underlying equity in net assets by $130 million. The difference reflects equity method goodwill and is not being amortized. Eastern Energy Gas received distributions from its investments of $23 million and $20 million for the six-month periods ended June 30, 2022 and 2021, respectively.
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents

Cash equivalents consist of funds invested in money market mutual funds, U.S. 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 consist of customer deposits as allowed under the FERC gas tariffs. A reconciliation of cash and cash equivalents and restricted cash and cash equivalents 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,
20222021
Cash and cash equivalents$106 $22 
Restricted cash and cash equivalents included in other current assets25 17 
Total cash and cash equivalents and restricted cash and cash equivalents$131 $39