Annual report pursuant to Section 13 and 15(d)

Derivative Financial Instruments (Tables)

v2.4.0.8
Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 28, 2013
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) at the end of each period were as follows:
(In Millions)
 
Dec 28,
2013
 
Dec 29,
2012
 
Dec 31,
2011
Currency forwards
 
$
13,404

 
$
13,117

 
$
11,203

Currency interest rate swaps
 
4,377

 
2,711

 
1,650

Embedded debt derivatives
 
3,600

 
3,600

 
3,600

Interest rate swaps
 
1,377

 
1,101

 
1,837

Total return swaps
 
914

 
807

 
761

Other
 
67

 
127

 
182

Total
 
$
23,739

 
$
21,463

 
$
19,233

The gross notional amounts for currency forwards and currency interest rate swaps (presented by currency) at the end of each period were as follows:
(In Millions)
 
Dec 28,
2013
 
Dec 29,
2012
 
Dec 31,
2011
British pound sterling
 
$
549

 
$
308

 
$
459

Chinese yuan
 
1,116

 
647

 
688

Euro
 
6,874

 
5,994

 
3,904

Israeli shekel
 
2,244

 
2,256

 
2,168

Japanese yen
 
4,116

 
4,389

 
3,477

Malaysian ringgit
 
506

 
442

 
805

Swiss franc
 
1,189

 
657

 
209

Other
 
1,187

 
1,135

 
1,143

Total
 
$
17,781

 
$
15,828

 
$
12,853

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The fair value of our derivative instruments at the end of each period were as follows:
  
 
December 28, 2013
 
December 29, 2012
(In Millions)
 
Other
Current
Assets
 
Other
Long-Term
Assets
 
Other
Accrued
Liabilities
 
Other
Long-Term
Liabilities
 
Other
Current
Assets
 
Other
Long-Term
Assets
 
Other
Accrued
Liabilities
 
Other
Long-Term
Liabilities
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency forwards
 
$
114

 
$
1

 
$
118

 
$
2

 
$
91

 
$
2

 
$
127

 
$

Total derivatives designated as hedging instruments
 
$
114

 
$
1

 
$
118

 
$
2

 
$
91

 
$
2

 
$
127

 
$

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency forwards
 
$
66

 
$

 
$
63

 
$

 
$
85

 
$

 
$
58

 
$

Currency interest rate swaps
 
124

 
6

 
163

 
29

 
33

 
18

 
72

 
14

Embedded debt derivatives
 

 

 

 
19

 

 

 

 
6

Interest rate swaps
 
5

 

 
28

 

 

 

 
34

 

Total return swaps
 
48

 

 

 

 
11

 

 

 

Other
 

 
29

 

 

 
1

 
18

 
1

 

Total derivatives not designated as hedging instruments
 
$
243

 
$
35

 
$
254

 
$
48

 
$
130

 
$
36

 
$
165

 
$
20

Total derivatives
 
$
357

 
$
36

 
$
372

 
$
50

 
$
221

 
$
38

 
$
292

 
$
20

Schedule Of Derivative Instruments In Cash Flow Hedging Relationships [Table Text Block]
The before-tax gains (losses), attributed to the effective portion of cash flow hedges, recognized in other comprehensive income (loss) for each period were as follows:
  
 
Gains (Losses)
Recognized in OCI on
Derivatives (Effective Portion)
(In Millions)
 
2013
 
2012
 
2011
Currency forwards
 
$
(167
)
 
$
4

 
$
20

Other
 
1

 
9

 

Total
 
$
(166
)
 
$
13

 
$
20

Not Designated as Hedging Instrument [Member]
 
Derivative Financial Instruments (Tables) [Abstract]  
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The effects of derivative instruments not designated as hedging instruments on the consolidated statements of income for each period were as follows:
(In Millions)
 
Location of Gains (Losses)
Recognized in Income on Derivatives
 
2013
 
2012
 
2011
Currency forwards
 
Interest and other, net
 
$
44

 
$
3

 
$
58

Currency interest rate swaps
 
Interest and other, net
 
29

 
(71
)
 
(17
)
Equity options
 
Gains (losses) on equity investments, net
 
1

 
(1
)
 
(67
)
Interest rate swaps
 
Interest and other, net
 

 
31

 
(26
)
Total return swaps
 
Various
 
140

 
77

 
(13
)
Other
 
Gains (losses) on equity investments, net
 
5

 
(7
)
 
4

Other
 
Interest and other, net
 

 
3

 

Total
 
$
219

 
$
35

 
$
(61
)