Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v3.23.1
Fair Value (Tables)
 3 Months Ended
Apr. 01, 2023
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
Apr 1, 2023 Dec 31, 2022
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 $ —  $ 1,395  $ —  $ 1,395  $ —  $ 856  $ —  $ 856 
Financial institution instruments¹ 1,806  2,177  —  3,983  6,899  1,474  —  8,373 
Government debt² 233  297  —  530  —  —  —  — 
Reverse repurchase agreements —  1,700  —  1,700  —  1,301  —  1,301 
Short-term investments:
Corporate debt —  5,441  —  5,441  —  5,381  —  5,381 
Financial institution instruments¹ 141  5,019  —  5,160  196  4,729  —  4,925 
Government debt² 49  8,652  —  8,701  48  6,840  —  6,888 
Other current assets:
Derivative assets 78  959  —  1,037  —  1,264  —  1,264 
Loans receivable³ —  54  —  54  —  53  —  53 
Marketable equity securities 1,421  —  —  1,421  1,341  —  —  1,341 
Other long-term assets:
Derivative assets —  5  —  5  —  10  —  10 
Total assets measured and recorded at fair value $ 3,728  $ 25,699  $ —  $ 29,427  $ 8,484  $ 21,908  $ —  $ 30,392 
Liabilities
Other accrued liabilities:
Derivative liabilities $ 8  $ 350  $ 81  $ 439  $ 111  $ 485  $ 89  $ 685 
Other long-term liabilities:
Derivative liabilities —  515  —  515  —  699  —  699 
Total liabilities measured and recorded at fair value $ 8  $ 865  $ 81  $ 954  $ 111  $ 1,184  $ 89  $ 1,384 
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 1 investments consist primarily of US Treasury securities. Level 2 investments consist primarily of non-US 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.