Annual report pursuant to Section 13 and 15(d)

Investments (Tables)

v3.23.4
Investments (Tables)
 12 Months Ended
Dec. 30, 2023
Debt Securities, Available-for-sale [Line Items]  
Investments Classified by Contractual Maturity Date [Table Text Block]
The fair value of marketable debt investments, by contractual maturity, as of December 30, 2023, was as follows:
(In Millions) Fair Value
Due in 1 year or less $ 9,575 
Due in 1–2 years 2,375 
Due in 2–5 years 7,134 
Due after 5 years 442 
Instruments not due at a single maturity date 2,274 
Total $ 21,800 
Investment [Table Text Block] Equity Investments
(In Millions)
 Dec 30, 2023 Dec 31, 2022
Marketable equity securities1
$ 1,194  $ 1,341 
Non-marketable equity securities
 4,630  4,561 
Equity method investments
 5  10 
Total $ 5,829  $ 5,912 
1    Over 90% of our marketable equity securities are subject to trading-volume or market-based restrictions, which limit the number of shares we may sell in a specified period of time, impacting our ability to liquidate these investments. The trading volume restrictions generally apply for as long as we own more than 1% of the outstanding shares. Market-based restrictions result from the rules of the respective exchange.
Gain (Loss) on Securities [Table Text Block]
The components of gains (losses) on equity investments, net for each period were as follows:
Years Ended (In Millions) Dec 30, 2023 Dec 31, 2022 Dec 25, 2021
Ongoing mark-to-market adjustments on marketable equity securities
 $ (36) $ (787) $ (130)
Observable price adjustments on non-marketable equity securities 17  299  750 
Impairment charges (214) (190) (154)
Sale of equity investments and other 1
273  4,946  2,263 
Total gains (losses) on equity investments, net $ 40  $ 4,268  $ 2,729 
1    Sale of equity investments and other includes initial fair value adjustments recorded upon a security becoming marketable, realized gains (losses) on sales of non-marketable equity investments and equity method investments, and our share of equity method investee gains (losses) and distributions.
Net unrealized gains and losses for our marketable and non-marketable equity securities during each period still held at the reporting date were as follows:
(In Millions) Dec 30, 2023 Dec 31, 2022 Dec 25, 2021
Net gains (losses) recognized during the period on equity securities
 $ 19  $ (314) $ 1,210 
Less: Net (gains) losses recognized during the period on equity securities sold during the period (5) 1  (259)
Net unrealized gains (losses) recognized during the period on equity securities still held at the reporting date $ 14  $ (313) $ 951