Quarterly report pursuant to Section 13 or 15(d)

Trading Assets

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Trading Assets
9 Months Ended
Oct. 01, 2011
Trading Assets [Abstract]  
Trading Assets [Text Block]

Note 6: Trading Assets

 

Trading assets as of October 1, 2011 and December 25, 2010 were as follows:

        Oct. 1,   Dec. 25,
(In Millions) 2011   2010
Marketable debt instruments $ 4,259   $ 4,705
Marketable equity securities   6     388
Total trading assets $ 4,265   $ 5,093

Net losses on marketable debt instruments classified as trading assets still held at the reporting date were $89 million in the third quarter of 2011 and $37 million in the first nine months of 2011 (net gains of $154 million in the third quarter of 2010 and net losses of $11 million in the first nine months of 2010). Net gains on the related derivatives were $81 million in the third quarter of 2011 and $42 million in the first nine months of 2011 (net losses of $130 million in the third quarter of 2010 and net gains of $4 million in the first nine months 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 third quarter of 2011 and in the first nine months of 2011 (net losses of $129 million in the third quarter of 2010 and $91 million in the first nine months of 2010).

 

In 2010, we sold our ownership interest 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.