Derivative Financial Instruments (Tables)
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12 Months Ended |
Dec. 30, 2017 |
Derivative [Line Items] |
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Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] |
Total gross notional amounts for outstanding derivatives (recorded at fair value) at the end of each period were as follows:
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(In Millions) |
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Dec 30, 2017 |
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Dec 31, 2016 |
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Dec 26, 2015 |
Foreign currency contracts |
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$ |
19,958 |
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$ |
17,960 |
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$ |
16,721 |
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Interest rate contracts |
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16,823 |
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14,228 |
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8,812 |
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Other |
|
1,636 |
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|
1,340 |
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|
1,122 |
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Total |
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$ |
38,417 |
|
|
$ |
33,528 |
|
|
$ |
26,655 |
|
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Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
FAIR VALUE OF DERIVATIVE INSTRUMENTS IN THE CONSOLIDATED BALANCE SHEETS
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December 30, 2017 |
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December 31, 2016 |
(In Millions) |
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Assets1
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Liabilities2
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Assets1
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Liabilities2
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Derivatives designated as hedging instruments |
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Foreign currency contracts3
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$ |
283 |
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$ |
32 |
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$ |
21 |
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$ |
252 |
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Interest rate contracts |
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1 |
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254 |
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3 |
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187 |
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Total derivatives designated as hedging instruments |
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284 |
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|
286 |
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|
24 |
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|
439 |
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Derivatives not designated as hedging instruments |
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Foreign currency contracts3
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52 |
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|
447 |
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374 |
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114 |
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Interest rate contracts |
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18 |
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24 |
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15 |
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30 |
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Other |
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9 |
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— |
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9 |
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— |
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Total derivatives not designated as hedging instruments |
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79 |
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471 |
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|
398 |
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|
144 |
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Total derivatives |
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$ |
363 |
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$ |
757 |
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$ |
422 |
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$ |
583 |
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The amounts recorded on the consolidated balance sheet related to cumulative basis adjustments for fair value hedges for each period were as follows:
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Line Item in the Consolidated Balance Sheet in Which the Hedged Item Is Included |
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Carrying Amount of the Hedged Item Asset/(Liabilities) |
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Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount Assets/(Liabilities) |
Years Ended (In Millions) |
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Dec 30, 2017 |
|
Dec 31, 2016 |
|
Dec 30, 2017 |
|
Dec 31, 2016 |
Long-Term Debt |
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$ |
(12,653 |
) |
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$ |
(8,879 |
) |
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$ |
252 |
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$ |
184 |
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Offsetting Assets [Table Text Block] |
The gross amounts of our derivative instruments and reverse repurchase agreements subject to master netting arrangements with various counterparties, and cash and non-cash collateral posted under such agreements at the end of each period were as follows:
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December 30, 2017 |
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Gross Amounts Not Offset in the Balance Sheet |
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(In Millions) |
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Gross Amounts Recognized |
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Gross Amounts Offset in the Balance Sheet |
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Net Amounts Presented in the Balance Sheet |
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Financial Instruments |
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Cash and Non-Cash Collateral Received or Pledged |
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Net Amount |
Assets: |
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Derivative assets subject to master netting arrangements |
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$ |
350 |
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$ |
— |
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$ |
350 |
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$ |
(206 |
) |
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$ |
(130 |
) |
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$ |
14 |
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Reverse repurchase agreements |
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1,649 |
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— |
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1,649 |
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— |
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(1,649 |
) |
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— |
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Total assets |
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1,999 |
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— |
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1,999 |
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(206 |
) |
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(1,779 |
) |
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14 |
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Liabilities: |
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Derivative liabilities subject to master netting arrangements |
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745 |
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— |
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745 |
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(206 |
) |
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(504 |
) |
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35 |
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Total liabilities |
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$ |
745 |
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$ |
— |
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$ |
745 |
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$ |
(206 |
) |
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$ |
(504 |
) |
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$ |
35 |
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December 31, 2016 |
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Gross Amounts Not Offset in the Balance Sheet |
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(In Millions) |
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Gross Amounts Recognized |
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Gross Amounts Offset in the Balance Sheet |
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Net Amounts Presented in the Balance Sheet |
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Financial Instruments |
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Cash and Non-Cash Collateral Received or Pledged |
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Net Amount |
Assets: |
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Derivative assets subject to master netting arrangements |
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$ |
433 |
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$ |
— |
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$ |
433 |
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$ |
(368 |
) |
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$ |
(42 |
) |
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$ |
23 |
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Reverse repurchase agreements |
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1,018 |
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— |
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1,018 |
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— |
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(1,018 |
) |
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— |
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Total assets |
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1,451 |
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— |
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1,451 |
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(368 |
) |
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(1,060 |
) |
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23 |
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Liabilities: |
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Derivative liabilities subject to master netting arrangements |
|
588 |
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— |
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|
588 |
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(368 |
) |
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(201 |
) |
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19 |
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Total liabilities |
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$ |
588 |
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$ |
— |
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$ |
588 |
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$ |
(368 |
) |
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$ |
(201 |
) |
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$ |
19 |
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Offsetting Liabilities [Table Text Block] |
The gross amounts of our derivative instruments and reverse repurchase agreements subject to master netting arrangements with various counterparties, and cash and non-cash collateral posted under such agreements at the end of each period were as follows:
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December 30, 2017 |
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Gross Amounts Not Offset in the Balance Sheet |
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(In Millions) |
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Gross Amounts Recognized |
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Gross Amounts Offset in the Balance Sheet |
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Net Amounts Presented in the Balance Sheet |
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Financial Instruments |
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Cash and Non-Cash Collateral Received or Pledged |
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Net Amount |
Assets: |
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Derivative assets subject to master netting arrangements |
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$ |
350 |
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$ |
— |
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$ |
350 |
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$ |
(206 |
) |
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$ |
(130 |
) |
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$ |
14 |
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Reverse repurchase agreements |
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1,649 |
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— |
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1,649 |
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— |
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(1,649 |
) |
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— |
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Total assets |
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1,999 |
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— |
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1,999 |
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(206 |
) |
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(1,779 |
) |
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14 |
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Liabilities: |
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Derivative liabilities subject to master netting arrangements |
|
745 |
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— |
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|
745 |
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(206 |
) |
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(504 |
) |
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35 |
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Total liabilities |
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$ |
745 |
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$ |
— |
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$ |
745 |
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$ |
(206 |
) |
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$ |
(504 |
) |
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$ |
35 |
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December 31, 2016 |
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Gross Amounts Not Offset in the Balance Sheet |
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(In Millions) |
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Gross Amounts Recognized |
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Gross Amounts Offset in the Balance Sheet |
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Net Amounts Presented in the Balance Sheet |
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Financial Instruments |
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Cash and Non-Cash Collateral Received or Pledged |
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Net Amount |
Assets: |
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Derivative assets subject to master netting arrangements |
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$ |
433 |
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|
$ |
— |
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$ |
433 |
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|
$ |
(368 |
) |
|
$ |
(42 |
) |
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$ |
23 |
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Reverse repurchase agreements |
|
1,018 |
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— |
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1,018 |
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— |
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(1,018 |
) |
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— |
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Total assets |
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1,451 |
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— |
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1,451 |
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(368 |
) |
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(1,060 |
) |
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23 |
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Liabilities: |
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Derivative liabilities subject to master netting arrangements |
|
588 |
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|
— |
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|
588 |
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(368 |
) |
|
(201 |
) |
|
19 |
|
Total liabilities |
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$ |
588 |
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|
$ |
— |
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$ |
588 |
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|
$ |
(368 |
) |
|
$ |
(201 |
) |
|
$ |
19 |
|
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Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
The effects of derivative instruments designated as fair value hedges, recognized in interest and other, net for each period were as follows:
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Gains (Losses)
Recognized in Statement of Income on
Derivatives
|
Years Ended (In Millions) |
|
Dec 30, 2017 |
|
Dec 31, 2016 |
|
Dec 26, 2015 |
Interest rate contracts |
|
$ |
(68 |
) |
|
$ |
(171 |
) |
|
$ |
(13 |
) |
Hedged items |
|
68 |
|
|
171 |
|
|
13 |
|
Total |
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$ |
— |
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|
$ |
— |
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|
$ |
— |
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Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
The effects of derivative instruments not designated as hedging instruments on the consolidated statements of income for each period were as follows:
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Years Ended (In Millions) |
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Location of Gains (Losses)
Recognized in Income on Derivatives
|
|
Dec 30, 2017 |
|
Dec 31, 2016 |
|
Dec 26, 2015 |
Foreign currency contracts |
|
Interest and other, net |
|
$ |
(547 |
) |
|
$ |
388 |
|
|
$ |
296 |
|
Interest rate contracts |
|
Interest and other, net |
|
9 |
|
|
8 |
|
|
(8 |
) |
Other |
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Various |
|
203 |
|
|
113 |
|
|
(38 |
) |
Total |
|
$ |
(335 |
) |
|
$ |
509 |
|
|
$ |
250 |
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