Quarterly report pursuant to Section 13 or 15(d)

Borrowings (Tables)

v2.4.0.8
Borrowings (Tables)
 9 Months Ended
Sep. 27, 2014
Borrowings (Tables) [Abstract]  
Schedule of Short-term Debt [Table Text Block]
Our short-term debt at the end of each period was as follows:
(In Millions)
 
Sep 27,
2014
 
Dec 28,
2013
Drafts payable
 
$
79

 
$
257

Notes payable
 
—

 
24

Current portion of long-term debt
 
1,085

 
—

Short-term debt
 
$
1,164

 
$
281

Schedule of Long-term Debt Instruments [Table Text Block]
Our long-term debt at the end of each period was as follows:
(In Millions)
 
Sep 27,
2014
 
Dec 28,
2013
2012 Senior notes due 2017 at 1.35%
 
$
2,998

 
$
2,997

2012 Senior notes due 2022 at 2.70%
 
1,495

 
1,494

2012 Senior notes due 2032 at 4.00%
 
744

 
744

2012 Senior notes due 2042 at 4.25%
 
924

 
924

2011 Senior notes due 2016 at 1.95%
 
1,499

 
1,499

2011 Senior notes due 2021 at 3.30%
 
1,997

 
1,996

2011 Senior notes due 2041 at 4.80%
 
1,490

 
1,490

2009 Junior subordinated convertible debentures due 2039 at 3.25%
 
1,085

 
1,075

2005 Junior subordinated convertible debentures due 2035 at 2.95%
 
956

 
946

Total debt
 
$
13,188

 
$
13,165

Less: current portion of long-term debt
 
(1,085
)
 
—

Long-term debt
 
$
12,103

 
$
13,165

Convertible Debentures Interest Rates [Table Text Block]
  
 
2009
Debentures
 
2005
Debentures
Annual coupon interest rate
 
3.25
%
 
2.95
%
Annual effective interest rate
 
7.20
%
 
6.45
%
Maximum amount of contingent interest that will accrue per year
 
0.50
%
 
0.40
%
Convertible Debentures Other Details [Table Text Block]
  
 
2009 Debentures
 
2005 Debentures
(In Millions, Except Per Share Amounts)
 
Sep 27,
2014
 
Dec 28,
2013
 
Sep 27,
2014
 
Dec 28,
2013
Outstanding principal
 
$
2,000

 
$
2,000

 
$
1,600

 
$
1,600

Equity component (including temporary equity) carrying amount
 
$
613

 
$
613

 
$
466

 
$
466

Unamortized discount
 
$
915

 
$
925

 
$
644

 
$
654

Net debt carrying amount
 
$
1,085

 
$
1,075

 
$
956

 
$
946

Conversion rate (shares of common stock per $1,000 principal amount of debentures)
 
46.06

 
45.57

 
34.95

 
34.60

Effective conversion price (per share of common stock)
 
$
21.71

 
$
21.94

 
$
28.61

 
$
28.90