Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v2.4.0.6
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 30, 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)
 
Mar 30,
2013
 
Dec 29,
2012
 
Mar 31,
2012
Currency forwards
 
$
13,141

 
$
13,117

 
$
11,116

Currency interest rate swaps
 
3,464

 
2,711

 
1,812

Embedded debt derivatives
 
3,600

 
3,600

 
3,600

Interest rate swaps
 
1,041

 
1,101

 
1,689

Total return swaps
 
859

 
807

 
821

Other
 
82

 
127

 
151

Total
 
$
22,187

 
$
21,463

 
$
19,189

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)
 
Mar 30,
2013
 
Dec 29,
2012
 
Mar 31,
2012
British pound sterling
 
$
422

 
$
308

 
$
523

Chinese yuan
 
572

 
647

 
803

Euro
 
6,800

 
5,994

 
3,553

Israeli shekel
 
1,974

 
2,256

 
1,823

Japanese yen
 
3,854

 
4,389

 
4,040

Malaysian ringgit
 
520

 
442

 
914

Swiss franc
 
1,312

 
657

 
237

Other
 
1,151

 
1,135

 
1,035

Total
 
$
16,605

 
$
15,828

 
$
12,928

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The fair values of our derivative instruments at the end of each period were as follows:
 
 
 
March 30, 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
 
$
62

 
$
1

 
$
261

 
$
12

 
$
91

 
$
2

 
$
127

 
$
—

Other
 
1

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total derivatives designated as hedging instruments
 
$
63

 
$
1

 
$
261

 
$
12

 
$
91

 
$
2

 
$
127

 
$
—

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency forwards
 
$
96

 
$
—

 
$
70

 
$
—

 
$
85

 
$
—

 
$
58

 
$
—

Currency interest rate swaps
 
92

 
25

 
74

 
9

 
33

 
18

 
72

 
14

Embedded debt derivatives
 
—

 
—

 
—

 
12

 
—

 
—

 
—

 
6

Interest rate swaps
 
—

 
—

 
37

 
—

 
—

 
—

 
34

 
—

Total return swaps
 
—

 
—

 
—

 
—

 
11

 
—

 
—

 
—

Other
 
1

 
21

 
—

 
—

 
1

 
18

 
1

 
—

Total derivatives not designated as hedging instruments
 
$
189

 
$
46

 
$
181

 
$
21

 
$
130

 
$
36

 
$
165

 
$
20

Total derivatives
 
$
252

 
$
47

 
$
442

 
$
33

 
$
221

 
$
38

 
$
292

 
$
20

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]
The before-tax gains (losses), attributed to the effective portion of cash flow hedges, recognized in other comprehensive income during each period were as follows:
 
 
Three Months Ended
(In Millions)
 
Mar 30,
2013
 
Mar 31,
2012
Currency forwards
 
$
(236
)
 
$
(74
)
Other
 
1

 
—

Total
 
$
(235
)
 
$
(74
)
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 condensed statements of income during each period were as follows:
 
 
 
 
 
Three Months Ended
(In Millions)
 
Location of Gains (Losses)
Recognized in Income on Derivatives
 
Mar 30,
2013
 
Mar 31,
2012
Currency forwards
 
Interest and other, net
 
$
56

 
$
15

Currency interest rate swaps
 
Interest and other, net
 
100

 
(56
)
Interest rate swaps
 
Interest and other, net
 
—

 
30

Total return swaps
 
Various
 
48

 
59

Other
 
Gains (losses) on equity investments, net
 
2

 
(2
)
Total
 
 
 
$
206

 
$
46