Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

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Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2012
Derivative Financial Instruments (Tables) [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

Total gross notional amounts for outstanding derivatives (recorded at fair value) were as follows:

  March 31,   Dec. 31,   April 2,
(In Millions) 2012   2011   2011
Currency forwards $ 11,116   $ 11,203   $ 8,123
Embedded debt derivatives   3,600     3,600     3,600
Currency interest rate swaps   1,812     1,650     1,690
Interest rate swaps   1,689     1,837     2,159
Total return swaps   821     761     649
Equity options   50     54     496
Other   101     128     128
Total $ 19,189   $ 19,233   $ 16,845

The gross notional amounts for currency forwards and currency interest rate swaps (presented by currency) were as follows:

  March 31,   Dec. 31,   April 2,
(In Millions) 2012   2011   2011
Japanese yen $ 4,040   $ 3,477   $ 3,047
Euro   3,553     3,904     4,035
Israeli shekel   1,823     2,168     1,199
Malaysian ringgit   914     805     336
Chinese yuan   803     688     341
British pound sterling   523     459     317
Other   1,272     1,352     538
Total $ 12,928   $ 12,853   $ 9,813
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The fair values of our derivative instruments as of March 31, 2012 and December 31, 2011 were as follows:

    March 31, 2012   December 31, 2011
    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 $ 26   $ 1   $ 183   $ 17   $ 61   $ —   $ 170   $ 7
Other   —     —     1     —     —     —     1     —
Total derivatives designated as                                              
  hedging instruments $ 26   $ 1   $ 184   $ 17   $ 61   $ —   $ 171   $ 7
Derivatives not designated as                                              
  hedging instruments                                              
Currency forwards $ 55   $ —   $ 29   $ —   $ 54   $ —   $ 34   $ —
Interest rate swaps   —     —     54     —     3     —     63     —
Currency interest rate swaps   27     23     8     13     41     33     11     10
Embedded debt derivatives   —     —     —     10     —     —     —     10
Total return swaps   5     —     —     —     7     —     —     —
Equity options   —     6     9     —     —     6     9     —
Other   —     22     —     —     —     24     —     —
Total derivatives not designated                                              
  as hedging instruments $ 87   $ 51   $ 100   $ 23   $ 105   $ 63   $ 117   $ 20
                                               
Total derivatives $ 113   $ 52   $ 284   $ 40   $ 166   $ 63   $ 288   $ 27
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 months ended March 31, 2012 and April 2, 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) Q1 2012   Q1 2011   Location   Q1 2012   Q1 2011
Currency forwards $ (74)   $ 201   Cost of sales   $ 15   $ 34
              Research and development     (21)     8
              Marketing, general and administrative     (5)     5
Other   —     3   Cost of sales     (1)     1
Total $ (74)   $ 204       $ (12)   $ 48
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 condensed statements of income were as follows:

      Three Months Ended
  Location of Gains (Losses)   March 31,   April 2,
(In Millions) Recognized in Income on Derivatives   2012   2011
Currency forwards Interest and other, net   $ 15   $ 14
Interest rate swaps Interest and other, net     30     (1)
Currency interest rate swaps Interest and other, net     (56)     (110)
Total return swaps Various     59     23
Equity options Gains (losses) on equity investments, net     —     (117)
Other Gains (losses) on equity investments, net     (2)     2
Total     $ 46   $ (189)