Funding commitments

  
The following table summarizes the maturities of our available-for-sale debt investments as of July 30, 2022 (in millions): 

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | Amortized Cost |  | Fair Value |
| Within 1 year | $ | 3,273  |  |  | $ | 3,219  |  |
| After 1 year through 5 years | 6,946  |  |  | 6,646  |  |
| After 5 years through 10 years | 111  |  |  | 103  |  |
| After 10 years | 3  |  |  | 3  |  |
| Mortgage-backed securities with no single maturity | 2,134  |  |  | 1,976  |  |
| Total | $ | 12,467  |  |  | $ | 11,947  |  |

Actual maturities may differ from the contractual maturities because borrowers may have the right to call or prepay certain obligations. (b)Summary of Equity InvestmentsWe held marketable equity securities of $241 million and $137 million as of July 30, 2022 and July 31, 2021, respectively. We recognized a net unrealized loss of $38 million during fiscal 2022 and a net unrealized gain of $8 million during fiscal 2021 on our marketable securities still held as of the reporting date. Our net adjustments to non-marketable equity securities measured using the measurement alternative still held was a net gain of $32 million and $39 million for fiscal 2022 and 2021, respectively. We held equity interests in certain private equity funds of $1.1 billion and $0.9 billion as of July 30, 2022 and July 31, 2021, respectively, which are accounted for under the NAV practical expedient.In the ordinary course of business, we have investments in privately held companies and provide financing to certain customers. These privately held companies and customers are evaluated for consolidation under the variable interest or voting interest entity models. We evaluate on an ongoing basis our investments in these privately held companies and our customer financings, and have determined that as of July 30, 2022, there were no significant variable interest or voting interest entities required to be consolidated in our Consolidated Financial Statements.As of July 30, 2022, the carrying value of our investments in privately held companies was $1.9 billion. Of the total carrying value of our investments in privately held companies as of July 30, 2022, $1.1 billion of such investments are considered to be in variable interest entities which are unconsolidated. We have total funding commitments of $0.4 billion related to privately held investments, some of which may be based on the achievement of certain agreed-upon milestones or are required to be funded on demand. The carrying value of these investments and the additional funding commitments, collectively, represent our maximum exposure related to privately held investments.   
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