Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v2.4.0.8
Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 28, 2013
Derivative Financial Instruments (Tables) [Abstract]  
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:
 
(In Millions)
 
Sep 28,
2013
 
Dec 29,
2012
 
Sep 29,
2012
Currency forwards
 
$
12,458

 
$
13,117

 
$
10,158

Currency interest rate swaps
 
3,665

 
2,711

 
2,574

Currency options
 

 

 
1,751

Embedded debt derivatives
 
3,600

 
3,600

 
3,600

Interest rate swaps
 
1,269

 
1,101

 
1,132

Total return swaps
 
873

 
807

 
920

Other
 
72

 
127

 
156

Total
 
$
21,937

 
$
21,463

 
$
20,291

The gross notional amounts for currency forwards, currency interest rate swaps, and currency options (presented by currency) at the end of each period were as follows:
 
(In Millions)
 
Sep 28,
2013
 
Dec 29,
2012
 
Sep 29,
2012
British pound sterling
 
$
403

 
$
308

 
$
312

Chinese yuan
 
648

 
647

 
634

Euro
 
5,952

 
5,994

 
6,276

Israeli shekel
 
2,006

 
2,256

 
1,991

Japanese yen
 
3,864

 
4,389

 
3,831

Malaysian ringgit
 
444

 
442

 
340

Swiss franc
 
1,416

 
657

 
174

Other
 
1,390

 
1,135

 
925

Total
 
$
16,123

 
$
15,828

 
$
14,483

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The fair value of our derivative instruments at the end of each period were as follows:
 
 
 
September 28, 2013
 
December 29, 2012
(In Millions)
 
Other
Current
Assets
 
Other
Long-Term
Assets
 
Other
Accrued
Liabilities
 
Other
Long-Term
Liabilities
 
Other
Current
Assets
 
Other
Long-Term
Assets
 
Other
Accrued
Liabilities
 
Other
Long-Term
Liabilities
Derivatives designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency forwards
 
$
152

 
$
4

 
$
113

 
$

 
$
91

 
$
2

 
$
127

 
$

Other
 

 

 

 

 

 

 

 

Total derivatives designated as hedging instruments
 
$
152

 
$
4

 
$
113

 
$

 
$
91

 
$
2

 
$
127

 
$

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency forwards
 
$
29

 
$

 
$
119

 
$

 
$
85

 
$

 
$
58

 
$

Currency interest rate swaps
 
72

 
9

 
141

 
24

 
33

 
18

 
72

 
14

Embedded debt derivatives
 

 

 

 
21

 

 

 

 
6

Interest rate swaps
 
2

 

 
32

 

 

 

 
34

 

Total return swaps
 

 

 

 

 
11

 

 

 

Other
 
1

 
23

 

 

 
1

 
18

 
1

 

Total derivatives not designated as hedging instruments
 
$
104

 
$
32

 
$
292

 
$
45

 
$
130

 
$
36

 
$
165

 
$
20

Total derivatives
 
$
256

 
$
36

 
$
405

 
$
45

 
$
221

 
$
38

 
$
292

 
$
20

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]
The before-tax gains (losses), attributed to the effective portion of cash flow hedges, recognized in other comprehensive income during each period were as follows:
 
 
Three Months Ended
 
Nine Months Ended
(In Millions)
 
Sep 28,
2013
 
Sep 29,
2012
 
Sep 28,
2013
 
Sep 29,
2012
Currency forwards
 
$
84

 
$
190

 
$
(105
)
 
$
75

Other
 
(1
)
 
1

 

 

Total
 
$
83

 
$
191

 
$
(105
)
 
$
75

Not Designated as Hedging Instrument [Member]
 
Derivative Financial Instruments (Tables) [Abstract]  
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The effects of derivative instruments not designated as hedging instruments on the consolidated condensed statements of income during each period were as follows:
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
(In Millions)
 
Location of Gains (Losses)
Recognized in Income on Derivatives
 
Sep 28,
2013
 
Sep 29,
2012
 
Sep 28,
2013
 
Sep 29,
2012
Currency forwards
 
Interest and other, net
 
$
(27
)
 
$
19

 
$
23

 
$
(9
)
Currency interest rate swaps
 
Interest and other, net
 
(56
)
 
(53
)
 

 
(40
)
Currency options
 
Interest and other, net
 

 
3

 

 
3

Interest rate swaps
 
Interest and other, net
 
(5
)
 
(3
)
 
(2
)
 
31

Total return swaps
 
Various
 
70

 
69

 
99

 
71

Other
 
Gains (losses) on equity investments, net
 
(6
)
 
(1
)
 
1

 
(3
)
Total
 
 
 
$
(24
)
 
$
34

 
$
121

 
$
53