Annual report pursuant to Section 13 and 15(d)

Trading Assets

Trading Assets
12 Months Ended
Dec. 31, 2011
Trading Assets [Abstract]  
Trading Assets [Text Block]

Note 6: Trading Assets


Trading assets outstanding as of December 31, 2011 and December 25, 2010 were as follows:

(In Millions) 2011   2010
Marketable debt instruments $ 4,591   $ 4,705
Marketable equity securities       388
Total trading assets $ 4,591   $ 5,093

Net losses on marketable debt instruments classified as trading assets still held at the reporting date were $71 million in 2011 (net losses of $50 million in 2010 and net gains of $91 million in 2009). Net gains on the related derivatives and intercompany loans were $58 million in 2011 (net gains of $43 million and $18 million in 2010 and 2009, respectively).


Net losses on marketable equity securities classified as trading assets still held at the reporting date, excluding the impacts of the related derivatives, were $14 million in 2010.


In 2010, we sold our ownership in Numonyx B.V. to Micron Technology, Inc. The Micron common stock that 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.