Quarterly report pursuant to Section 13 or 15(d)

Trading Assets

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Trading Assets
6 Months Ended
Jul. 02, 2011
Trading Assets [Abstract]  
Trading Assets

Note 6: Trading Assets

 

Trading assets as of July 2, 2011 and December 25, 2010 were as follows:

        July 2,   Dec. 25,
(In Millions) 2011   2010
Marketable debt instruments $ 3,796   $ 4,705
Marketable equity securities   10     388
Total trading assets $ 3,806   $ 5,093

Net gains on marketable debt instruments classified as trading assets still held at the reporting date were $16 million in the second quarter of 2011 and $66 million in the first half of 2011 (net losses of $173 million in the second quarter of 2010 and $234 million in the first half of 2010). Net losses on the related derivatives were $13 million in the second quarter of 2011 and $53 million in the first half of 2011 (net gains of $143 million in the second quarter of 2010 and $191 million in the first half of 2010).

 

Net losses on marketable equity securities classified as trading assets still held at the reporting date, excluding the impacts of the related derivatives, were insignificant in the second quarter of 2011 and in the first half of 2011 (net gains of $38 million in the second quarter of 2010 and first half of 2010).

 

In 2010, we sold our ownership in Numonyx B.V. to Micron Technology, Inc. The Micron common stock we received in the transaction was classified as marketable equity securities within trading assets. During the second quarter of 2011, we sold our remaining shares in Micron.