Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v2.3.0.15
Fair Value (Tables)
9 Months Ended
Oct. 01, 2011
Fair Value (Tables) [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments as of October 1, 2011 and December 25, 2010:

      October 1, 2011   December 25, 2010
      Fair Value Measured and         Fair Value Measured and      
    Recorded at Reporting Date Using       Recorded at Reporting Date Using      
(In Millions) Level 1   Level 2   Level 3   Total   Level 1   Level 2   Level 3   Total
Assets                                              
Cash equivalents:                                              
  Commercial paper $ —   $ 3,457   $ —   $ 3,457   $ —   $ 2,600   $ —   $ 2,600
  Government bonds   1,650     —     —     1,650     1,279     505     —     1,784
  Bank deposits   —     499     —     499     —     560     —     560
  Money market fund deposits   463     —     —     463     34     —     —     34
Short-term investments:                                              
  Commercial paper   —     2,403     —     2,403     —     2,712     —     2,712
  Corporate bonds   144     525     7     676     121     1,378     1     1,500
  Government bonds   82     373     —     455     4,890     1,320     —     6,210
  Bank deposits   —     342     —     342     —     858     —     858
  Asset-backed securities   —     —     —     —     —     —     14     14
Trading assets:                                              
  Government bonds   883     1,683     —     2,566     311     2,115     —     2,426
  Corporate bonds   201     540     —     741     199     916     —     1,115
  Commercial paper   —     404     —     404     —     488     —     488
  Municipal bonds   —     288     —     288     —     375     —     375
  Asset-backed securities   —     —     130     130     —     —     190     190
  Bank deposits   —     89     —     89     —     108     —     108
  Money market fund deposits   41     —     —     41     3     —     —     3
  Marketable equity securities   6     —     —     6     388     —     —     388
Other current assets:                                              
  Marketable equity securities                                              
  Derivative assets   —     224     —     224     —     330     —     330
  Loans receivable   —     34     —     34     —     —     —     —
Marketable equity securities   448     68     —     516     785     223     —     1,008
Other long-term investments:                                              
  Corporate bonds   34     340     59     433     104     601     50     755
  Government bonds   —     300     —     300     83     2,002     —     2,085
  Bank deposits   —     75     —     75     —     133     —     133
  Asset-backed securities   —     —     50     50     —     —     53     53
Other long-term assets:                                              
  Loans receivable   —     745     —     745     —     642     —     642
  Derivative assets   —     20     30     50     —     19     31     50
Total assets measured and                                              
  recorded at fair value $ 3,952   $ 12,409   $ 276   $ 16,637   $ 8,197   $ 17,885   $ 339   $ 26,421
                                                   
Liabilities                                              
Other accrued liabilities:                                              
  Derivative liabilities $ —   $ 279   $ 11   $ 290   $ —   $ 201   $ 7   $ 208
Long-term debt   —     —     129     129     —     —     128     128
Other long-term liabilities:                                              
  Derivative liabilities   —     32     —     32     —     47     —     47
Total liabilities measured and                                              
  recorded at fair value $ —   $ 311   $ 140   $ 451   $ —   $ 248   $ 135   $ 383
Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Significant Unobservable Inputs [Level 3]) [Table Text Block]

The tables below present reconciliations for all assets and liabilities measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended October 1, 2011 and for the twelve months ended December 25, 2010:

    Fair Value Measured and Recorded Using      
    Significant Unobservable Inputs (Level 3)    
    Corporate   Asset-Backed   Derivative   Derivative   Long-term   Total Gains
(In Millions) Bonds Securities Assets Liabilities Debt (Losses)
Balance as of December 25, 2010 $ 51   $ 257   $ 31   $ (7)   $ (128)      
Total gains or losses (realized and unrealized):                                  
  Included in earnings   (2)     (2)     (1)     (4)     (1)     (10)
  Included in other comprehensive income (loss)   8     (3)     —     —     —     5
Purchases   13     12     3     —     —      
Settlements and maturities   (4)     (84)     —     —     —      
Transfers out of Level 3   —     —     (3)     —     —      
Balance as of October 1, 2011 $ 66   $ 180   $ 30   $ (11)   $ (129)      
                                     
Changes in unrealized gains or losses included in                                  
  earnings related to assets and liabilities still held                                  
  as of October 1, 2011 $ (2)   $ (2)   $ (1)   $ (4)   $ (1)   $ (10)
                                     
    Fair Value Measured and Recorded Using      
    Significant Unobservable Inputs (Level 3)    
    Corporate   Asset-Backed   Derivative   Derivative   Long-term   Total Gains
(In Millions) Bonds Securities Assets Liabilities Debt (Losses)
Balance as of December 26, 2009 $ 369   $ 754   $ 31   $ (65)   $ (123)      
Total gains or losses (realized and unrealized):                                  
  Included in earnings   (2)     6     (3)     (2)     (5)     (6)
  Included in other comprehensive income (loss)   4     9     —     —     —     13
Purchases   6     —     7     —     —      
Sales   (44)     (28)     (4)     —     —      
Settlements and maturities   (75)     (484)     —     —     —      
Transfers out of Level 3   (207)     —     —     60     —      
Balance as of December 25, 2010 $ 51   $ 257   $ 31   $ (7)   $ (128)      
                                     
Changes in unrealized gains or losses included in                                  
  earnings related to assets and liabilities still held                                  
  as of December 25, 2010 $ —   $ 6   $ (4)   $ (1)   $ (5)   $ (4)
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

Our non-marketable equity investments and non-financial assets, such as intangible assets and property, plant and equipment, are recorded at fair value only if an impairment charge is recognized. The following table presents the financial instruments and non-financial assets that were measured and recorded at fair value on a non-recurring basis during the nine months ended October 1, 2011, and the gains (losses) recorded during the three and nine months ended October 1, 2011 on those assets:

                          Total Gains   Total Gains
                          (Losses) for   (Losses) for
    Net Carrying                     Three Months   Nine Months Ended
    Value as of   Fair Value Measured and Recorded Using   Ended    
(In Millions) Oct. 1, 2011   Level 1   Level 2   Level 3   Oct. 1, 2011   Oct. 1, 2011
Non-marketable equity investments $ 53   $ —   $ —   $ 53   $ (12)   $ (33)
Property, plant and equipment $ —   $ —   $ —   $ —   $ —   $ (10)
Total gains (losses) for assets held                                  
  as of October 1, 2011                         $ (12)   $ (43)
                                     
Gains (losses) for non-marketable equity                                  
  investments no longer held                         $ —   $ (1)
Gains (losses) for property, plant and equipment                                  
  no longer held                         $ (23)   $ (68)
Total gains (losses) for recorded non-recurring                                  
  measurement                         $ (35)   $ (112)

The following table presents the financial instruments and non-financial assets that were measured and recorded at fair value on a non-recurring basis during the nine months ended September 25, 2010, and the gains (losses) recorded during the three and nine months ended September 25, 2010 on those assets:

                          Total Gains   Total Gains
                          (Losses) for   (Losses) for
    Net Carrying                     Three Months   Nine Months Ended
    Value as of   Fair Value Measured and Recorded Using   Ended    
(In Millions) Sept. 25, 2010   Level 1   Level 2   Level 3   Sept. 25, 2010   Sept. 25, 2010
Non-marketable equity investments $ 123   $ —   $ —   $ 125   $ (32)   $ (94)
Total gains (losses) for assets held                                  
  as of September 25, 2010                         $ (32)   $ (94)
                                     
Gains (losses) for non-marketable equity                                  
  investments no longer held                         $ —   $ (1)
Gains (losses) for property, plant and equipment                                  
  no longer held                         $ (9)   $ (49)
Total gains (losses) for recorded non-recurring                                  
  measurement                         $ (41)   $ (144)
Financial Instruments Not Recorded At Fair Value On Recurring Basis [Table Text Block]

We measure the fair value of our non-marketable equity investments, marketable equity method investment, debt carried at amortized cost, and cost method loans receivable quarterly for disclosure purposes; however, they are recorded at fair value only when an impairment charge is recognized. The carrying amounts and fair values of financial instruments not recorded at fair value on a recurring basis as of October 1, 2011 and December 25, 2010 were as follows:

  October 1, 2011   December 25, 2010
  Carrying   Fair   Carrying   Fair
(In Millions) Amount   Value   Amount   Value
Non-marketable equity investments $ 2,795   $ 5,588   $ 2,633   $ 5,144
Marketable equity method investment $ 37   $ 73   $ 31   $ 167
Loans receivable $ 258   $ 258   $ 208   $ 208
Long-term debt $ 6,947   $ 7,533   $ 1,949   $ 2,283