10. MARKETABLE SECURITIES Most marketable securities are classified as available-for-sale. Realized gains or losses are based on specific identification. The amortized cost and fair value of marketable securities at the end of 2024 and 2023 follow: | | | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | | Amortized | | Unrealized | | Unrealized | | Fair | | | | Cost | | Gains | | Losses | | Value | | 2024 | | | | | | | | | | | | | | Corporate debt securities | | $ | 445 | | $ | 1 | | $ | 23 | | $ | 423 | | International debt securities | | | 169 | | | | | | 26 | | | 143 | | Mortgage-backed securities* | | | 193 | | | | | | 28 | | | 165 | | Municipal debt securities | | | 78 | | | 1 | | | 5 | | | 74 | | U.S. government debt securities | | | 377 | | | | | | 28 | | | 349 | | Total debt securities | | $ | 1,262 | | $ | 2 | | $ | 110 | | | 1,154 | | Marketable securities | | | | | | | | | | | $ | 1,154 | | | | | | | | | | | | | | | | 2023 | | | | | | | | | | | | | | International equity securities | | | | | | | | | | | $ | 3 | | International mutual funds securities | | | | | | | | | | | | 101 | | U.S. equity fund | | | | | | | | | | | | 86 | | U.S. fixed income fund | | | | | | | | | | | | 32 | | Total equity securities | | | | | | | | | | | | 222 | | Corporate debt securities | | $ | 285 | | | | | $ | 41 | | | 244 | | International debt securities | | | 5 | | | | | | 4 | | | 1 | | Mortgage-backed securities* | | | 225 | | | | | | 40 | | | 185 | | Municipal debt securities | | | 87 | | | | | | 12 | | | 75 | | U.S. government debt securities | | | 260 | | | | | | 41 | | | 219 | | Total debt securities | | $ | 862 | | | | | $ | 138 | | | 724 | | Marketable securities | | | | | | | | | | | $ | 946 | |
* Primarily issued by U.S. government-sponsored enterprises. The purchases, maturities, and sale proceeds for marketable securities during 2024, 2023, and 2022 follow: | | | | | | | | | | | | | 2024 | | 2023 | | 2022 | | Purchases | | $ | 1,055 | | $ | 491 | | $ | 250 | | Maturities and sale proceeds | | | 832 | | | 186 | | | 79 | |
Equity Securities Unrealized gain (loss) on equity securities during 2024 and 2023 follow: | | | | | | | | | | 2024 | | 2023 | | Net gain recognized on equity securities | | $ | 88 | | | | | Less: Net gain (loss) on equity securities sold | | | 88 | | $ | (1) | | Unrealized gain on equity securities | | $ | | | $ | 1 | |
Debt Securities The contractual maturities of available-for-sale debt securities at October 27, 2024 follow: | | | | | | | | | | Amortized | | Fair | | | | Cost | | Value | | Due in one year or less | | $ | 28 | | $ | 27 | | Due after one through five years | | | 386 | | | 356 | | Due after five through 10 years | | | 456 | | | 435 | | Due after 10 years | | | 199 | | | 171 | | Mortgage-backed securities | | | 193 | | | 165 | | Debt securities | | $ | 1,262 | | $ | 1,154 | |
Actual maturities may differ from contractual maturities because some securities may be called or prepaid. Mortgage-backed securities contain prepayment provisions and are not categorized by contractual maturity. Proceeds of available-for-sale debt securities sold or matured during 2024, 2023, and 2022 were $619, $37, and $74, respectively. Realized gains and losses on debt securities were not material in 2024, 2023, and 2022.
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