Quarterly report pursuant to Section 13 or 15(d)

Investments (Tables)

v3.10.0.1
Investments (Tables)
9 Months Ended
Sep. 29, 2018
Investments and Cash [Abstract]  
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 
 
September 29, 2018
 
December 30, 2017
(In Millions)
 
Adjusted Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Adjusted Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
Corporate debt
 
$
2,647

 
$
2

 
$
(29
)
 
$
2,620

 
$
2,294

 
$
4

 
$
(13
)
 
$
2,285

Financial institution instruments
 
3,647

 
3

 
(18
)
 
3,632

 
3,387

 
3

 
(9
)
 
3,381

Government debt
 
940

 

 
(14
)
 
926

 
961

 

 
(6
)
 
955

Total available-for-sale debt investments
 
$
7,234

 
$
5

 
$
(61
)
 
$
7,178

 
$
6,642

 
$
7

 
$
(28
)
 
$
6,621

Investments Classified by Contractual Maturity Date [Table Text Block]
The fair value of available-for-sale debt investments, by contractual maturity, as of September 29, 2018, was as follows:
(In Millions)
 
Fair Value
Due in 1 year or less
 
$
3,138

Due in 1–2 years
 
782

Due in 2–5 years
 
2,662

Due after 5 years
 
118

Instruments not due at a single maturity date
 
478

Total
 
$
7,178

Investment [Table Text Block]
(In Millions)
 
Sep 29,
2018
 
Dec 30,
2017
Marketable equity securities
 
$
3,039

 
$
4,192

Non-marketable equity securities
 
2,878

 
2,613

Equity method investments
 
1,634

 
1,774

Total
 
$
7,551


$
8,579

Gain (Loss) on Securities [Table Text Block]
 
 
Three Months Ended
 
Nine Months Ended
(In Millions)
 
Sep 29,
2018
 
Sep 29,
2018
Net gains (losses) recognized during the period on equity securities
 
$
(75
)
 
$
518

Less: Net (gains) losses recognized during the period on equity securities sold during the period
 
(225
)
 
(463
)
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date
 
$
(300
)
 
$
55

The components of gains (losses) on equity investments, net for each period were as follows:
 
 
Three Months Ended
 
Nine Months Ended
(In Millions)
 
Sep 29,
2018
 
Sep 30,
2017
 
Sep 29,
2018
 
Sep 30,
2017
Initial mark to market adjustments on marketable equity securities1 2
 
$

 
$

 
$
46

 
$

Ongoing mark to market adjustments on marketable equity securities1 2
 
8

 

 
379

 

Gains (losses) on sales2
 
57

 
944

 
68

 
2,020

Observable price adjustments on non-marketable equity securities2
 
43

 

 
191

 

Impairments
 
(328
)
 
(10
)
 
(372
)
 
(613
)
Share of equity method investee gains (losses)
 

 
(110
)
 
(152
)
 
(129
)
Dividends
 
1

 

 
39

 
68

Other
 
144

 
22

 
166

 
94

Total gains (losses) on equity investments, net
 
$
(75
)
 
$
846

 
$
365

 
$
1,440


1 
Initial mark to market adjustments refers to the fair value adjustment recorded upon a security becoming marketable, generally as a result of an initial public offering (IPO), whereas ongoing mark to market adjustments refers to all post-IPO mark to market adjustments.
2 Both initial and ongoing mark to market adjustments and observable price adjustments relate to the new financial instruments standard adopted in the first quarter of 2018, and are not applicable in prior periods. Gains (losses) on sales includes realized gains (losses) on sales of non-marketable equity securities and equity method investments, and in 2017 also includes realized gains (losses) on sales of available-for-sale equity securities which are now reflected in ongoing mark to market adjustments on marketable equity securities.