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Investments and Restricted Cash and Cash Equivalents and Investments
 12 Months Ended
Dec. 31, 2021
Investments, Including Equity Method And Restricted Cash And Investments [Line Items]  
Investments and Restricted Cash and Cash Equivalents and Investments Investments and Restricted Cash and Cash Equivalents and Investments
Investments and restricted cash and cash equivalents and investments consists of the following as of December 31 (in millions):
20212020
Investments:
BYD Company Limited common stock$7,693 $5,897 
Rabbi trusts492 440 
Other305 263 
Total investments8,490 6,600 
  
Equity method investments:
BHE Renewables tax equity investments4,931 5,626 
Iroquois Gas Transmission System, L.P.735 580 
Electric Transmission Texas, LLC595 594 
JAX LNG, LLC92 75 
Bridger Coal Company45 74 
Other156 118 
Total equity method investments6,554 7,067 
Restricted cash and cash equivalents and investments:  
Quad Cities Station nuclear decommissioning trust funds768 676 
Other restricted cash and cash equivalents148 155 
Total restricted cash and cash equivalents and investments916 831 
  
Total investments and restricted cash and cash equivalents and investments$15,960 $14,498 
Reflected as:
Other current assets$172 $178 
Noncurrent assets15,788 14,320 
Total investments and restricted cash and cash equivalents and investments$15,960 $14,498 

Investments

BHE's investment in BYD Company Limited common stock is accounted for as a marketable security with changes in fair value recognized in net income.

Rabbi trusts primarily hold corporate-owned life insurance on certain current and former key executives and directors. The Rabbi trusts were established to hold investments used to fund the obligations of various nonqualified executive and director compensation plans and to pay the costs of the trusts. The amount represents the cash surrender value of all of the policies included in the Rabbi trusts, net of amounts borrowed against the cash surrender value.

Gains (losses) on marketable securities, net recognized during the period consists of the following for the years ended December 31 (in millions):
202120202019
Unrealized gains (losses) recognized on marketable securities held at the reporting date$1,819 $4,791 $(290)
Net gains recognized on marketable securities sold during the period4 6 2 
Gains (losses) on marketable securities, net$1,823 $4,797 $(288)
Equity Method Investments

The Company has invested in wind projects sponsored by third parties, commonly referred to as tax equity investments. Under the terms of these tax equity investments, the Company has entered into equity capital contribution agreements with the project sponsors that require contributions. The Company has made contributions of $— million, $2,736 million and $1,619 million in 2021, 2020 and 2019, respectively, and has commitments as of December 31, 2021, subject to satisfaction of certain specified conditions, to provide equity contributions of $356 million in 2022 pursuant to these equity capital contribution agreements as the various projects achieve commercial operation. However, the Company expects to assign its rights and obligations under these equity capital contribution agreements, including any related funding commitments, to an entity affiliated through common ownership. Once a project achieves commercial operation, the Company enters into a partnership agreement with the project sponsor that directs and allocates the operating profits and tax benefits from the project.

BHE, through separate subsidiaries, owns (i) 50% of Iroquois, which owns and operates an interstate natural gas pipeline located in the states of New York and Connecticut; (ii) 50% of Electric Transmission Texas, LLC, which owns and operates electric transmission assets in the Electric Reliability Council of Texas footprint; (iii) 50% of JAX LNG, LLC, which is an LNG supplier in Florida serving the growing marine and truck LNG markets; and (iv) 66.67% of Bridger Coal Company ("Bridger Coal"), which is a coal mining joint venture that supplies coal to the Jim Bridger Nos. 1-4 generating facility. Bridger Coal is being accounted for under the equity method of accounting as the power to direct the activities that most significantly impact Bridger Coal's economic performance are shared with the joint venture partner.

Restricted Investments

MidAmerican Energy has established a trust for the investment of funds for decommissioning the Quad Cities Nuclear Station Units 1 and 2 ("Quad Cities Station"). The debt and equity securities in the trust are reported at fair value. Funds are invested in the trust in accordance with applicable federal and state investment guidelines and are restricted for use as reimbursement for costs of decommissioning the Quad Cities Station, which are currently licensed for operation until December 2032.
MEC  
Investments, Including Equity Method And Restricted Cash And Investments [Line Items]  
Investments and Restricted Cash and Cash Equivalents and Investments Investments and Restricted Investments
Investments and restricted investments consists of the following amounts as of December 31 (in millions):
20212020
Nuclear decommissioning trust$768 $676 
Rabbi trusts233 211 
Other25 24 
Total$1,026 $911 

MidAmerican Energy has established a trust for the investment of funds for decommissioning the Quad Cities Station. The debt and equity securities in the trust are reported at fair value. Funds are invested in the trust in accordance with applicable federal and state investment guidelines and are restricted for use as reimbursement for costs of decommissioning the Quad Cities Station, which is currently licensed for operation until December 2032. As of December 31, 2021 and 2020, the fair value of the trust's funds was invested as follows: 56% and 56%, respectively, in domestic common equity securities, 30% and 30%, respectively, in United States government securities, 12% and 11%, respectively, in domestic corporate debt securities and 2% and 3%, respectively, in other securities.

Rabbi trusts primarily hold corporate-owned life insurance on certain current and former key executives and directors. The Rabbi trusts were established to hold investments used to fund the obligations of various nonqualified executive and director compensation plans and to pay the costs of the trusts. The amount represents the cash surrender value of all of the policies included in the Rabbi trusts, net of amounts borrowed against the cash surrender value. Changes in the cash surrender value of the policies are reflected in other income (expense) - other, net on the Statements of Operation.
MidAmerican Funding, LLC  
Investments, Including Equity Method And Restricted Cash And Investments [Line Items]  
Investments and Restricted Cash and Cash Equivalents and Investments Investments and Restricted InvestmentsRefer to Note 6 of MidAmerican Energy's Notes to Financial Statements. In addition to MidAmerican Energy's investments and restricted investments, MHC had corporate-owned life insurance policies in a Rabbi trust owned by MHC with a total cash surrender value of $2 million as of December 31, 2021 and 2020.
EEGH  
Investments, Including Equity Method And Restricted Cash And Investments [Line Items]  
Investments and Restricted Cash and Cash Equivalents and Investments Investments and Restricted Cash and Cash Equivalents
Investments and restricted cash and cash equivalents consists of the following as of December 31 (in millions):

20212020
Investments:
Investment funds$13 $— 
Equity method investments:
Iroquois399 244 
Total investments412 244 
Restricted cash and cash equivalents:
Customer deposits17 13 
Total restricted cash and cash equivalents17 13 
Total investments and restricted cash and cash equivalents$429 $257 
Reflected as:
Current assets$17 $13 
Noncurrent assets412 244 
Total investments and restricted cash and cash equivalents$429 $257 

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. Prior to the GT&S Transaction, Eastern Energy Gas, through the Questar Pipeline Group, owned 50% of White River Hub, which owns and operates a natural gas pipeline in northwest Colorado.

As of both December 31, 2021 and 2020, 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 made contributions of $154 million in 2021. Eastern Energy Gas received distributions from its investments of $44 million, $77 million and $74 million for the years ended December 31, 2021, 2020 and 2019, respectively.