Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v3.21.2
Fair Value (Tables)
 6 Months Ended
Jun. 26, 2021
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
Jun 26, 2021 Dec 26, 2020
Fair Value Measured and Recorded at Reporting Date Using
 
 Fair Value Measured and Recorded at Reporting Date Using  
(In Millions)
Level 1
Level 2
Level 3
 Total Level 1 Level 2 Level 3 Total
Assets
Cash equivalents:
Corporate debt $ —  $ 648  $ —  $ 648  $ —  $ 50  $ —  $ 50 
Financial institution instruments¹ 829  1,064  —  1,893  2,781  636  —  3,417 
Government debt² —  100  —  100  —  —  —  — 
Reverse repurchase agreements —  1,350  —  1,350  —  1,900  —  1,900 
Short-term investments:
Corporate debt —  960  —  960  —  428  —  428 
Financial institution instruments¹ —  1,484  —  1,484  —  1,179  —  1,179 
Government debt² —  570  —  570  —  685  —  685 
Trading assets:
Corporate debt —  4,537  —  4,537  —  3,815  —  3,815 
Financial institution instruments¹ 218  3,568  —  3,786  131  2,847  —  2,978 
Government debt² —  8,774  —  8,774  —  8,945  —  8,945 
Other current assets:
Derivative assets 39  300  —  339  48  644  —  692 
Loans receivable³ —  213  —  213  —  439  —  439 
Marketable equity securities 90  1,525  —  1,615  136  1,694  —  1,830 
Other long-term investments:
Corporate debt —  892  —  892   — 1,520   — 1,520 
Financial institution instruments¹ —  216  —  216   — 257   — 257 
Government debt² —  154  —  154   — 415   — 415 
Other long-term assets:
Derivative assets —  1,029  16  1,045  —  1,520  30  1,550 
Loans receivable³ —  —  —  —  — 157  — 157 
Total assets measured and recorded at fair value $ 1,176  $ 27,384  $ 16  $ 28,576  $ 3,096  $ 27,131  $ 30  $ 30,257 
Liabilities
Other accrued liabilities:
Derivative liabilities $ 5  $ 613  $ —  $ 618  $ —  $ 810  $ —  $ 810 
Other long-term liabilities:
Derivative liabilities —  4  —  4  —  5  —  5 
Total liabilities measured and recorded at fair value $ 5  $ 617  $ —  $ 622  $ —  $ 815  $ —  $ 815 
1Level 1 investments consist of money market funds. Level 2 investments consist primarily of commercial paper, certificates of deposit, time deposits, and notes and bonds issued by financial institutions.
2Level 2 investments consist primarily of U.S. agency notes and non-U.S. government debt.
3The fair value of our loans receivable for which we elected the fair value option did not significantly differ from the contractual principal balance.