Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
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Jul 2, 2022 |
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Dec 25, 2021 |
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Fair Value Measured and Recorded at Reporting Date Using |
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Fair Value Measured and Recorded at Reporting Date Using |
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(In Millions) |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Assets |
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Cash equivalents: |
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Corporate debt |
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$ |
— |
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$ |
48 |
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$ |
— |
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$ |
48 |
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$ |
— |
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$ |
65 |
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$ |
— |
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$ |
65 |
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Financial institution instruments¹ |
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484 |
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1,262 |
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— |
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1,746 |
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1,216 |
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763 |
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— |
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1,979 |
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Reverse repurchase agreements |
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— |
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2,002 |
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— |
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2,002 |
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— |
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1,595 |
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— |
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1,595 |
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Short-term investments: |
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Corporate debt |
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— |
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7,301 |
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— |
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7,301 |
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— |
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6,367 |
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— |
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6,367 |
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Financial institution instruments¹ |
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229 |
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6,886 |
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— |
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7,115 |
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154 |
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5,162 |
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— |
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5,316 |
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Government debt² |
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48 |
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8,190 |
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— |
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8,238 |
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50 |
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12,693 |
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— |
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12,743 |
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Other current assets: |
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Derivative assets |
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— |
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1,661 |
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— |
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1,661 |
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80 |
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576 |
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— |
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656 |
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Loans receivable³ |
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— |
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— |
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— |
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— |
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— |
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152 |
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— |
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152 |
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Marketable equity securities4
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1,369 |
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87 |
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— |
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1,456 |
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1,854 |
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317 |
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— |
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2,171 |
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Other long-term assets: |
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Derivative assets |
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— |
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40 |
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— |
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40 |
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— |
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772 |
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7 |
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779 |
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Loans receivable³ |
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— |
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73 |
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— |
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73 |
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— |
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57 |
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— |
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57 |
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Total assets measured and recorded at fair value |
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$ |
2,130
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$ |
27,550
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$ |
—
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$ |
29,680
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$ |
3,354
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$ |
28,519
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$ |
7
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$ |
31,880
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Liabilities |
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Other accrued liabilities: |
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Derivative liabilities |
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$ |
119 |
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$ |
1,120 |
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$ |
— |
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$ |
1,239 |
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$ |
4 |
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$ |
516 |
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$ |
— |
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$ |
520 |
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Other long-term liabilities: |
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Derivative liabilities |
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— |
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194 |
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49 |
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243 |
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— |
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9 |
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— |
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9 |
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Total liabilities measured and recorded at fair value |
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$ |
119
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$ |
1,314
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$ |
49
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$ |
1,482
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$ |
4
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$ |
525
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$ |
—
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$ |
529
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1Level 1 investments consist of money market funds. Level 2 investments consist primarily of commercial paper, certificates of deposit, time deposits, and notes and bonds issued by financial institutions.
2Level 1 investments consist primarily of U.S. Treasury securities. Level 2 investments consist primarily of U.S. agency notes and non-U.S. government debt.
3The fair value of our loans receivable for which we elected the fair value option did not significantly differ from the contractual principal balance.
4Level 2 investments consist of marketable equity securities subject to security-specific restrictions.
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