Retirement Benefit Plans (Tables)
|
12 Months Ended |
Dec. 31, 2011
|
Retirement Benefit Plans (Tables) [Abstract] |
|
Schedule of Changes in Projected Benefit Obligations [Table Text Block] |
|
U.S. Pension |
|
Non-U.S. Pension |
|
U.S. Postretirement |
|
Benefits |
|
Benefits |
|
Medical Benefits |
(In Millions) |
2011 |
|
2010 |
|
2011 |
|
2010 |
|
2011 |
|
2010 |
Change in projected benefit obligation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning benefit obligation |
$ |
739 |
|
$ |
567 |
|
$ |
902 |
|
$ |
653 |
|
$ |
297 |
|
$ |
200 |
Service cost |
|
51 |
|
|
38 |
|
|
63 |
|
|
40 |
|
|
18 |
|
|
16 |
Interest cost |
|
42 |
|
|
34 |
|
|
52 |
|
|
35 |
|
|
16 |
|
|
14 |
Plan acquisitions |
|
— |
|
|
— |
|
|
68 |
|
|
— |
|
|
— |
|
|
— |
Plan participants’ contributions |
|
— |
|
|
— |
|
|
10 |
|
|
8 |
|
|
4 |
|
|
4 |
Actuarial (gain) loss |
|
688 |
|
|
123 |
|
|
98 |
|
|
187 |
|
|
45 |
|
|
7 |
Currency exchange rate changes |
|
— |
|
|
— |
|
|
(38) |
|
|
(4) |
|
|
— |
|
|
— |
Plan amendments |
|
— |
|
|
— |
|
|
— |
|
|
3 |
|
|
— |
|
|
65 |
Plan curtailments |
|
— |
|
|
— |
|
|
(6) |
|
|
— |
|
|
— |
|
|
— |
Plan settlements |
|
— |
|
|
— |
|
|
(13) |
|
|
— |
|
|
— |
|
|
— |
Benefits paid to plan participants |
|
(40) |
|
|
(23) |
|
|
(15) |
|
|
(20) |
|
|
(11) |
|
|
(9) |
Ending projected benefit obligation |
$ |
1,480 |
|
$ |
739 |
|
$ |
1,121 |
|
$ |
902 |
|
$ |
369 |
|
$ |
297 |
|
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] |
|
U.S. Pension |
|
Non-U.S. Pension |
|
U.S. Postretirement |
|
Benefits |
|
Benefits |
|
Medical Benefits |
(In Millions) |
2011 |
|
2010 |
|
2011 |
|
2010 |
|
2011 |
|
2010 |
Change in plan assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning fair value of plan assets |
$ |
569 |
|
$ |
411 |
|
$ |
642 |
|
$ |
552 |
|
$ |
59 |
|
$ |
2 |
Actual return on plan assets |
|
26 |
|
|
18 |
|
|
(26) |
|
|
53 |
|
|
1 |
|
|
(2) |
Plan acquisitions |
|
— |
|
|
— |
|
|
72 |
|
|
— |
|
|
— |
|
|
— |
Employer contributions |
|
93 |
|
|
163 |
|
|
76 |
|
|
52 |
|
|
63 |
|
|
64 |
Plan participants’ contributions |
|
— |
|
|
— |
|
|
10 |
|
|
8 |
|
|
4 |
|
|
4 |
Currency exchange rate changes |
|
— |
|
|
— |
|
|
(24) |
|
|
(3) |
|
|
— |
|
|
— |
Plan settlements |
|
— |
|
|
— |
|
|
(13) |
|
|
— |
|
|
— |
|
|
— |
Benefits paid to plan participants |
|
(40) |
|
|
(23) |
|
|
(15) |
|
|
(20) |
|
|
(11) |
|
|
(9) |
Ending fair value of plan assets |
$ |
648 |
|
$ |
569 |
|
$ |
722 |
|
$ |
642 |
|
$ |
116 |
|
$ |
59 |
|
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] |
The following table summarizes the amounts recognized on the consolidated balance sheets as of December 31, 2011 and December 25, 2010:
|
U.S. Pension |
|
Non-U.S. Pension |
|
U.S. Postretirement |
|
Benefits |
|
Benefits |
|
Medical Benefits |
(In Millions) |
2011 |
|
2010 |
|
2011 |
|
2010 |
|
2011 |
|
2010 |
Other long-term assets |
$ |
— |
|
$ |
— |
|
$ |
6 |
|
$ |
35 |
|
$ |
— |
|
$ |
— |
Accrued compensation and benefits |
|
— |
|
|
— |
|
|
(7) |
|
|
(6) |
|
|
— |
|
|
— |
Other long-term liabilities |
|
(832) |
|
|
(170) |
|
|
(398) |
|
|
(289) |
|
|
(253) |
|
|
(238) |
Accumulated other comprehensive loss (income), before tax |
|
1,039 |
|
|
373 |
|
|
330 |
|
|
185 |
|
|
66 |
|
|
27 |
Net amount recognized |
$ |
207 |
|
$ |
203 |
|
$ |
(69) |
|
$ |
(75) |
|
$ |
(187) |
|
$ |
(211) |
|
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] |
The following table summarizes the amounts recorded in accumulated other comprehensive income (loss) before taxes, as of December 31, 2011 and December 25, 2010:
|
U.S. Pension |
|
Non-U.S. Pension |
|
U.S. Postretirement |
|
Benefits |
|
Benefits |
|
Medical Benefits |
(In Millions) |
2011 |
|
2010 |
|
2011 |
|
2010 |
|
2011 |
|
2010 |
Net prior service credit (cost) |
$ |
— |
|
$ |
— |
|
$ |
14 |
|
$ |
15 |
|
$ |
(63) |
|
$ |
(71) |
Net actuarial gain (loss) |
|
(1,039) |
|
|
(373) |
|
|
(344) |
|
|
(200) |
|
|
(3) |
|
|
44 |
Defined benefit plans, net |
$ |
(1,039) |
|
$ |
(373) |
|
$ |
(330) |
|
$ |
(185) |
|
$ |
(66) |
|
$ |
(27) |
|
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] |
As of December 31, 2011, the accumulated benefit obligation was $426 million for the U.S. Intel Minimum Pension Plan ($284 million as of December 25, 2010) and $836 million for the non-U.S. defined-benefit pension plans ($632 million as of December 25, 2010). Included in the aggregate data in the following tables are the amounts applicable to our pension plans, with accumulated benefit obligations in excess of plan assets, as well as plans with projected benefit obligations in excess of plan assets. Amounts related to such plans were as follows:
|
U.S. Pension |
|
Non-U.S. Pension |
|
Benefits |
|
Benefits |
(In Millions) |
2011 |
|
2010 |
|
2011 |
|
2010 |
Plans with accumulated benefit obligations in excess of plan assets: |
|
|
|
|
|
|
|
|
|
|
|
Accumulated benefit obligations |
$ |
— |
|
$ |
— |
|
$ |
563 |
|
$ |
241 |
Plan assets |
$ |
— |
|
$ |
— |
|
$ |
363 |
|
$ |
73 |
Plans with projected benefit obligations in excess of plan assets: |
|
|
|
|
|
|
|
|
|
|
|
Projected benefit obligations |
$ |
1,480 |
|
$ |
739 |
|
$ |
1,064 |
|
$ |
665 |
Plan assets |
$ |
648 |
|
$ |
569 |
|
$ |
658 |
|
$ |
369 |
|
Schedule of Assumptions Used [Table Text Block] |
Weighted average actuarial assumptions used to determine benefit obligations for the plans as of December 31, 2011 and December 25, 2010 were as follows:
|
U.S. Pension |
|
|
Non-U.S. Pension |
|
|
U.S. Postretirement |
|
|
Benefits |
|
|
Benefits |
|
|
Medical Benefits |
|
|
2011 |
|
|
2010 |
|
|
2011 |
|
|
2010 |
|
|
2011 |
|
|
2010 |
|
Discount rate |
4.7 |
% |
|
5.8 |
% |
|
4.9 |
% |
|
5.1 |
% |
|
4.6 |
% |
|
5.6 |
% |
Rate of compensation increase |
4.5 |
% |
|
4.7 |
% |
|
4.2 |
% |
|
4.5 |
% |
|
n/a |
|
|
n/a |
|
Weighted average actuarial assumptions used to determine costs for the plans were as follows:
|
U.S. Pension |
|
|
Non-U.S. Pension |
|
|
U.S. Postretirement |
|
|
Benefits |
|
|
Benefits |
|
|
Medical Benefits |
|
|
2011 |
|
|
2010 |
|
|
2009 |
|
|
2011 |
|
|
2010 |
|
|
2009 |
|
|
2011 |
|
|
2010 |
|
|
2009 |
|
Discount rate |
5.8 |
% |
|
6.1 |
% |
|
6.7 |
% |
|
5.3 |
% |
|
5.6 |
% |
|
5.5 |
% |
|
5.6 |
% |
|
6.3 |
% |
|
6.8 |
% |
Expected long-term rate of return on plan assets |
5.5 |
% |
|
4.5 |
% |
|
4.5 |
% |
|
6.3 |
% |
|
6.2 |
% |
|
6.7 |
% |
|
3.0 |
% |
|
n/a |
|
|
n/a |
|
Rate of compensation increase |
4.7 |
% |
|
5.1 |
% |
|
5.0 |
% |
|
4.3 |
% |
|
3.6 |
% |
|
3.4 |
% |
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
Schedule of Net Benefit Costs [Table Text Block] |
The net periodic benefit cost for the plans included the following components:
|
U.S. Pension |
|
Non-U.S. Pension |
|
U.S. Postretirement |
|
Benefits |
|
Benefits |
|
Medical Benefits |
(In Millions) |
2011 |
|
2010 |
|
2009 |
|
2011 |
|
2010 |
|
2009 |
|
2011 |
|
2010 |
|
2009 |
Service cost |
$ |
51 |
|
$ |
38 |
|
$ |
12 |
|
$ |
63 |
|
$ |
40 |
|
$ |
47 |
|
$ |
18 |
|
$ |
16 |
|
$ |
12 |
Interest cost |
|
42 |
|
|
34 |
|
|
35 |
|
|
52 |
|
|
35 |
|
|
37 |
|
|
16 |
|
|
14 |
|
|
11 |
Expected return on plan assets |
|
(31) |
|
|
(18) |
|
|
(13) |
|
|
(47) |
|
|
(34) |
|
|
(31) |
|
|
(2) |
|
|
— |
|
|
— |
Amortization of prior service cost |
|
— |
|
|
— |
|
|
— |
|
|
(1) |
|
|
1 |
|
|
(4) |
|
|
8 |
|
|
6 |
|
|
4 |
Recognized net actuarial loss (gain) |
|
26 |
|
|
18 |
|
|
22 |
|
|
11 |
|
|
5 |
|
|
9 |
|
|
(1) |
|
|
(1) |
|
|
(4) |
Recognized curtailment gains |
|
— |
|
|
— |
|
|
— |
|
|
(4) |
|
|
— |
|
|
(6) |
|
|
— |
|
|
— |
|
|
— |
Recognized settlement losses |
|
— |
|
|
— |
|
|
— |
|
|
6 |
|
|
— |
|
|
6 |
|
|
— |
|
|
— |
|
|
— |
Net periodic benefit cost |
$ |
88 |
|
$ |
72 |
|
$ |
56 |
|
$ |
80 |
|
$ |
47 |
|
$ |
58 |
|
$ |
39 |
|
$ |
35 |
|
$ |
23 |
|
Schedule of Expected Benefit Payments [Table Text Block] |
Estimated benefit payments over the next 10 fiscal years are as follows (in millions):
|
U.S. Pension |
|
Non-U.S. Pension |
|
U.S. Postretirement |
Year Payable |
Benefits |
|
Benefits |
|
Medical Benefits |
2012 |
$ |
32 |
|
$ |
32 |
|
$ |
13 |
2013 |
$ |
45 |
|
$ |
31 |
|
$ |
14 |
2014 |
$ |
54 |
|
$ |
35 |
|
$ |
18 |
2015 |
$ |
69 |
|
$ |
41 |
|
$ |
18 |
2016 |
$ |
86 |
|
$ |
44 |
|
$ |
20 |
2017–2021 |
$ |
761 |
|
$ |
297 |
|
$ |
128 |
|
U.S. Pension Benefits [Member]
|
|
Retirement Benefit Plans (Tables) [Abstract] |
|
Schedule of Allocation of Plan Assets [Table Text Block] |
U.S. Intel Minimum Pension Plan assets measured at fair value on a recurring basis consisted of the following investment categories as of December 31, 2011 and December 25, 2010:
|
|
December 31, 2011 |
|
|
Fair Value Measured at |
|
|
|
|
|
Reporting Date Using |
|
|
|
(In Millions) |
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
Equity securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Hedge fund pool |
$ |
— |
|
$ |
97 |
|
$ |
— |
|
$ |
97 |
Fixed income: |
|
|
|
|
|
|
|
|
|
|
|
|
Global Bond Fund—common collective trusts |
|
— |
|
|
51 |
|
|
— |
|
|
51 |
|
Global Bond Fund—government bonds |
|
94 |
|
|
166 |
|
|
— |
|
|
260 |
|
Global Bond Fund—asset-backed securities |
|
— |
|
|
— |
|
|
78 |
|
|
78 |
|
Global Bond Fund—corporate bonds |
|
— |
|
|
147 |
|
|
— |
|
|
147 |
|
Global Bond Fund—other |
|
— |
|
|
6 |
|
|
— |
|
|
6 |
Total assets measured at fair value |
$ |
94 |
|
$ |
467 |
|
$ |
78 |
|
$ |
639 |
Cash |
|
|
|
|
|
|
|
|
|
|
9 |
Total U.S. pension plan assets at fair value |
|
|
|
|
|
|
|
|
|
$ |
648 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 25, 2010 |
|
|
Fair Value Measured at |
|
|
|
|
|
Reporting Date Using |
|
|
|
(In Millions) |
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
Equity securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Large Cap Stock Fund |
$ |
— |
|
$ |
36 |
|
$ |
— |
|
$ |
36 |
|
U.S. Small Cap Stock Fund |
|
— |
|
|
9 |
|
|
— |
|
|
9 |
|
International Stock Fund |
|
11 |
|
|
30 |
|
|
— |
|
|
41 |
Fixed income: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. treasuries |
|
— |
|
|
261 |
|
|
— |
|
|
261 |
|
U.S. corporate bonds |
|
— |
|
|
79 |
|
|
— |
|
|
79 |
|
Global Bond Fund—common collective trusts |
|
— |
|
|
62 |
|
|
— |
|
|
62 |
|
Global Bond Fund—government bonds |
|
18 |
|
|
22 |
|
|
— |
|
|
40 |
|
Global Bond Fund—asset-backed securities |
|
— |
|
|
— |
|
|
17 |
|
|
17 |
|
Global Bond Fund—corporate bonds |
|
— |
|
|
19 |
|
|
— |
|
|
19 |
|
Global Bond Fund—other |
|
3 |
|
|
2 |
|
|
— |
|
|
5 |
Total U.S. pension plan assets at fair value |
$ |
32 |
|
$ |
520 |
|
$ |
17 |
|
$ |
569 |
|
Non-U.S. Pension Benefits [Member]
|
|
Retirement Benefit Plans (Tables) [Abstract] |
|
Schedule of Allocation of Plan Assets [Table Text Block] |
Non-U.S. plan assets measured at fair value on a recurring basis consisted of the following investment categories as of December 31, 2011 and December 25, 2010:
|
|
December 31, 2011 |
|
|
Fair Value Measured at |
|
|
|
|
|
Reporting Date Using |
|
|
|
(In Millions) |
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
Equity securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Global equities |
$ |
153 |
|
$ |
70 |
|
$ |
— |
|
$ |
223 |
|
Real estate |
|
— |
|
|
— |
|
|
10 |
|
|
10 |
|
Non-U.S. venture capital |
|
— |
|
|
— |
|
|
3 |
|
|
3 |
Fixed income: |
|
|
|
|
|
|
|
|
|
|
|
|
Non-U.S. government bonds |
|
— |
|
|
138 |
|
|
— |
|
|
138 |
|
Money market funds |
|
57 |
|
|
— |
|
|
— |
|
|
57 |
|
Investments held by insurance companies |
|
— |
|
|
207 |
|
|
— |
|
|
207 |
|
Insurance contracts |
|
— |
|
|
— |
|
|
29 |
|
|
29 |
|
Other |
|
5 |
|
|
37 |
|
|
— |
|
|
42 |
Total assets measured at fair value |
$ |
215 |
|
$ |
452 |
|
$ |
42 |
|
$ |
709 |
Cash |
|
|
|
|
|
|
|
|
|
|
13 |
Total non-U.S. plan assets at fair value |
|
|
|
|
|
|
|
|
|
$ |
722 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 25, 2010 |
|
|
Fair Value Measured at |
|
|
|
|
|
Reporting Date Using |
|
|
|
(In Millions) |
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
Equity securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Global equities |
$ |
165 |
|
$ |
75 |
|
$ |
— |
|
$ |
240 |
|
Real estate |
|
— |
|
|
— |
|
|
10 |
|
|
10 |
|
Non-U.S. venture capital |
|
— |
|
|
— |
|
|
2 |
|
|
2 |
Fixed income: |
|
|
|
|
|
|
|
|
|
|
|
|
Non-U.S. government bonds |
|
— |
|
|
150 |
|
|
— |
|
|
150 |
|
Investments held by insurance companies |
|
— |
|
|
202 |
|
|
— |
|
|
202 |
|
Insurance contracts |
|
— |
|
|
— |
|
|
28 |
|
|
28 |
Total assets measured at fair value |
$ |
165 |
|
$ |
427 |
|
$ |
40 |
|
$ |
632 |
Cash |
|
|
|
|
|
|
|
|
|
|
10 |
Total non-U.S. plan assets at fair value |
|
|
|
|
|
|
|
|
|
$ |
642 |
|