Quarterly report pursuant to Section 13 or 15(d)

Investments (Tables)

v3.19.3
Investments (Tables)
9 Months Ended
Sep. 28, 2019
Investments and Cash [Abstract]  
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 
 
September 28, 2019
 
December 29, 2018
(In Millions)
 
Adjusted Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Adjusted Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
Corporate debt
 
$
3,012

 
$
46

 
$
(1
)
 
$
3,057

 
$
3,068

 
$
2

 
$
(28
)
 
$
3,042

Financial institution
instruments
 
$
3,347

 
$
16

 
$
(1
)
 
$
3,362

 
$
3,076

 
$
3

 
$
(11
)
 
$
3,068

Government debt
 
$
743

 
$
5

 
$

 
$
748

 
$
1,069

 
$
1

 
$
(9
)
 
$
1,061

Total available-for-sale debt investments
 
$
7,102

 
$
67

 
$
(2
)
 
$
7,167

 
$
7,213

 
$
6

 
$
(48
)
 
$
7,171


Investments Classified by Contractual Maturity Date [Table Text Block]
The fair value of available-for-sale debt investments, by contractual maturity, as of September 28, 2019, was as follows:
(In Millions)
 
Fair Value
Due in 1 year or less
 
$
2,638

Due in 1–2 years
 
794

Due in 2–5 years
 
2,509

Due after 5 years
 
125

Instruments not due at a single maturity date
 
1,101

Total
 
$
7,167


Investment [Table Text Block]
(In Millions)
 
Sep 28,
2019
 
Dec 29,
2018
Marketable equity securities
 
$
352

 
$
1,440

Non-marketable equity securities
 
3,287

 
2,978

Equity method investments
 
1,180

 
1,624

Total
 
$
4,819


$
6,042


Gain (Loss) on Securities [Table Text Block]
Gains and losses for our marketable and non-marketable equity securities during the period were as follows:
 
 
Three Months Ended
 
Nine Months Ended
(In Millions)
 
Sep 28,
2019
 
Sep 29,
2018
 
Sep 28,
2019
 
Sep 29,
2018
Net gains (losses) recognized during the period on equity securities
 
$
281

 
$
215

 
$
366

 
$
808

Less: Net (gains) losses recognized during the period on equity securities sold during the period
 
(54
)
 
(225
)
 
(321
)
 
(463
)
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date
 
$
227

 
$
(10
)
 
$
45

 
$
345


The components of gains (losses) on equity investments, net for each period were as follows:
 
 
Three Months Ended
 
Nine Months Ended
(In Millions)
 
Sep 28,
2019
 
Sep 29,
2018
 
Sep 28,
2019
 
Sep 29,
2018
Ongoing mark-to-market adjustments on marketable equity securities
 
$
114

 
$
8

 
$
188

 
$
379

Observable price adjustments on non-marketable equity securities
 
84

 
43

 
100

 
191

Impairments
 
(17
)
 
(328
)
 
(79
)
 
(372
)
Sale of equity investments and other¹
 
137

 
202

 
713

 
167

Total gains (losses) on equity investments, net
 
$
318

 
$
(75
)
 
$
922

 
$
365


1 Sale of equity investments and other includes realized gains (losses) on sales of non-marketable equity investments, our share of equity method investee gains (losses) and distributions, and initial fair value adjustments recorded upon a security becoming marketable.