Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] |
Total gross notional amounts for outstanding derivatives (recorded at fair value) as of December 31, 2011, December 25, 2010, and December 26, 2009 were as follows:
(In Millions) |
2011 |
|
2010 |
|
2009 |
Currency forwards |
$ |
11,203 |
|
$ |
8,502 |
|
$ |
5,732 |
Embedded debt derivatives |
|
3,600 |
|
|
3,600 |
|
|
3,600 |
Interest rate swaps |
|
1,837 |
|
|
2,166 |
|
|
1,698 |
Currency interest rate swaps |
|
1,650 |
|
|
2,259 |
|
|
1,577 |
Total return swaps |
|
761 |
|
|
627 |
|
|
530 |
Equity options |
|
54 |
|
|
496 |
|
|
50 |
Currency options |
|
2 |
|
|
94 |
|
|
375 |
Other |
|
126 |
|
|
66 |
|
|
80 |
Total |
$ |
19,233 |
|
$ |
17,810 |
|
$ |
13,642 |
The gross notional amounts for currency forwards, currency interest rate swaps, and currency options (presented by currency) as of December 31, 2011, December 25, 2010, and December 26, 2009 were as follows:
(In Millions) |
2011 |
|
2010 |
|
2009 |
Euro |
$ |
3,904 |
|
$ |
4,445 |
|
$ |
3,330 |
Japanese yen |
|
3,477 |
|
|
3,440 |
|
|
1,764 |
Israeli shekel |
|
2,168 |
|
|
1,191 |
|
|
707 |
Malaysian ringgit |
|
805 |
|
|
382 |
|
|
310 |
Chinese yuan |
|
688 |
|
|
347 |
|
|
434 |
British pound sterling |
|
459 |
|
|
424 |
|
|
563 |
Other |
|
1,354 |
|
|
626 |
|
|
576 |
Total |
$ |
12,855 |
|
$ |
10,855 |
|
$ |
7,684 |
|
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
The fair values of our derivative instruments as of December 31, 2011 and December 25, 2010 were as follows:
|
|
2011 |
|
2010 |
|
|
Other |
|
Other |
|
Other |
|
Other |
|
Other |
|
Other |
|
Other |
|
Other |
|
|
Current |
|
Long-Term |
|
Accrued |
|
Long-Term |
|
Current |
|
Long-Term |
|
Accrued |
|
Long-Term |
(In Millions) |
Assets |
|
Assets |
|
Liabilities |
|
Liabilities |
|
Assets |
|
Assets |
|
Liabilities |
|
Liabilities |
Derivatives designated as |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Currency forwards |
$ |
61 |
|
$ |
— |
|
$ |
170 |
|
$ |
7 |
|
$ |
120 |
|
$ |
3 |
|
$ |
43 |
|
$ |
3 |
Other |
|
— |
|
|
— |
|
|
1 |
|
|
— |
|
|
2 |
|
|
— |
|
|
— |
|
|
— |
Total derivatives designated as |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
hedging instruments |
$ |
61 |
|
$ |
— |
|
$ |
171 |
|
$ |
7 |
|
$ |
122 |
|
$ |
3 |
|
$ |
43 |
|
$ |
3 |
Derivatives not designated as |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Currency forwards |
$ |
54 |
|
$ |
— |
|
$ |
34 |
|
$ |
— |
|
$ |
35 |
|
$ |
— |
|
$ |
14 |
|
$ |
— |
Interest rate swaps |
|
3 |
|
|
— |
|
|
63 |
|
|
— |
|
|
2 |
|
|
— |
|
|
96 |
|
|
— |
Currency interest rate swaps |
|
41 |
|
|
33 |
|
|
11 |
|
|
10 |
|
|
64 |
|
|
17 |
|
|
47 |
|
|
13 |
Embedded debt derivatives |
|
— |
|
|
— |
|
|
— |
|
|
10 |
|
|
— |
|
|
— |
|
|
— |
|
|
31 |
Total return swaps |
|
7 |
|
|
— |
|
|
— |
|
|
— |
|
|
41 |
|
|
6 |
|
|
— |
|
|
— |
Equity options |
|
— |
|
|
6 |
|
|
9 |
|
|
— |
|
|
65 |
|
|
5 |
|
|
7 |
|
|
— |
Other |
|
— |
|
|
24 |
|
|
— |
|
|
— |
|
|
1 |
|
|
19 |
|
|
1 |
|
|
— |
Total derivatives not designated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
as hedging instruments |
$ |
105 |
|
$ |
63 |
|
$ |
117 |
|
$ |
20 |
|
$ |
208 |
|
$ |
47 |
|
$ |
165 |
|
$ |
44 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total derivatives |
$ |
166 |
|
$ |
63 |
|
$ |
288 |
|
$ |
27 |
|
$ |
330 |
|
$ |
50 |
|
$ |
208 |
|
$ |
47 |
|
Schedule Of Derivative Instruments In Cash Flow Hedging Relationships [Table Text Block] |
The before-tax effects of derivative instruments in cash flow hedging relationships for the three years ended December 31, 2011 were as follows:
|
Gains (Losses) Recognized |
|
|
|
in OCI on Derivatives |
|
Gains (Losses) Reclassified from Accumulated OCI into |
|
(Effective Portion) |
|
Income by Derivative Instrument Type (Effective Portion) |
(In Millions) |
2011 |
|
2010 |
|
2009 |
|
Location |
|
2011 |
|
2010 |
|
2009 |
Currency forwards |
$ |
20 |
|
$ |
66 |
|
$ |
43 |
|
Cost of sales |
|
$ |
118 |
|
$ |
49 |
|
$ |
(12) |
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
20 |
|
|
27 |
|
|
(30) |
|
|
|
|
|
|
|
|
|
|
Marketing, general and administrative |
|
|
19 |
|
|
4 |
|
|
(12) |
Other |
|
— |
|
|
4 |
|
|
(12) |
|
Cost of sales |
|
|
4 |
|
|
(2) |
|
|
(13) |
Total |
$ |
20 |
|
$ |
70 |
|
$ |
31 |
|
|
|
$ |
161 |
|
$ |
78 |
|
$ |
(67) |
|
Schedule Of Derivative Instruments Not Designated As Hedging Instruments [Table Text Block] |
The effects of derivative instruments not designated as hedging instruments on the consolidated statements of income for the three years ended December 31, 2011 were as follows:
|
Location of Gains (Losses) |
|
|
|
|
|
|
(In Millions) |
Recognized in Income on Derivatives |
|
2011 |
|
2010 |
|
2009 |
Currency forwards |
Interest and other, net |
|
$ |
58 |
|
$ |
72 |
|
$ |
37 |
Interest rate swaps |
Interest and other, net |
|
|
(26) |
|
|
(59) |
|
|
15 |
Currency interest rate swaps |
Interest and other, net |
|
|
(17) |
|
|
74 |
|
|
(7) |
Total return swaps |
Various |
|
|
(13) |
|
|
70 |
|
|
51 |
Other |
Interest and other, net |
|
|
— |
|
|
(1) |
|
|
2 |
Equity options |
Gains (losses) on equity investments, net |
|
|
(67) |
|
|
59 |
|
|
5 |
Other |
Gains (losses) on equity investments, net |
|
|
4 |
|
|
(2) |
|
|
12 |
Total |
|
|
$ |
(61) |
|
$ |
213 |
|
$ |
115 |
|