Investments

12 Months Ended

Dec. 31, 2021

Investments

Investments

Note 2 − Investments

The following is a summary of the estimated fair value of short-term investments classified as trading securities:

		December 31,
(Millions of dollars)	2021		2020
Domestic debt securities	$	542	$	496
Domestic equity securities		472		702
Foreign equity securities		193		133
Foreign debt securities		133		68
Money market funds held in trading accounts		59		47
Other trading securities		17		19
Total trading short-term investments	$	1,416	$	1,465

The change in unrealized gains (losses) related to trading securities still held at the end of the respective reporting period was $12 million, $74 million and $176 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Seaboard had $46 million and $29 million of short-term investments denominated in foreign currencies, primarily euros, as of December 31, 2021 and 2020, respectively.

Seaboard had long-term investments of $156 million and $87 million as of December 31, 2021 and 2020, respectively, primarily in a business development company (“BDC”), real estate and renewable energy facilities. The BDC investment is included in the fair value hierarchy table in Note 10 and the other investments are primarily accounted for under the equity method of accounting. Long-term investments are classified in other non-current assets on the consolidated balance sheets.