Derivative Financial Instruments (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
|---|
| Derivative [Line Items] |
|
| 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 31,
2016 |
|
Dec 26,
2015 |
|
Dec 27,
2014 |
Foreign currency contracts |
|
$ |
17,960 |
|
|
$ |
16,721 |
|
|
$ |
21,024 |
|
Interest rate contracts |
|
14,228 |
|
|
8,812 |
|
|
4,947 |
|
Other |
|
1,340 |
|
|
1,122 |
|
|
1,105 |
|
Total |
|
$ |
33,528 |
|
|
$ |
26,655 |
|
|
$ |
27,076 |
|
|
| Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016 |
|
December 26, 2015 |
(In Millions) |
|
Assets1
|
|
Liabilities2
|
|
Assets1
|
|
Liabilities2
|
Derivatives designated as hedging instruments |
|
|
|
|
|
|
|
|
Foreign currency contracts3
|
|
$ |
21 |
|
|
$ |
252 |
|
|
$ |
30 |
|
|
$ |
85 |
|
Interest rate contracts |
|
3 |
|
|
187 |
|
|
1 |
|
|
14 |
|
Total derivatives designated as hedging instruments |
|
24 |
|
|
439 |
|
|
31 |
|
|
99 |
|
Derivatives not designated as hedging instruments |
|
|
|
|
|
|
|
|
Foreign currency contracts4
|
|
374 |
|
|
114 |
|
|
408 |
|
|
115 |
|
Interest rate contracts |
|
15 |
|
|
30 |
|
|
2 |
|
|
29 |
|
Other |
|
9 |
|
|
— |
|
|
44 |
|
|
2 |
|
Total derivatives not designated as hedging instruments |
|
398 |
|
|
144 |
|
|
454 |
|
|
146 |
|
Total derivatives |
|
$ |
422 |
|
|
$ |
583 |
|
|
$ |
485 |
|
|
$ |
245 |
|
|
| Offsetting Assets And Liabilities [Table Text Block] |
The gross amounts of our derivative instruments and reverse repurchase agreements subject to master netting arrangements with various counterparties, and cash and non-cash collateral posted under such agreements at the end of each period were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016 |
|
|
|
|
|
|
|
|
Gross Amounts Not Offset in the Balance Sheet |
|
|
(In Millions) |
|
Gross Amounts Recognized |
|
Gross Amounts Offset in the Balance Sheet |
|
Net Amounts Presented in the Balance Sheet |
|
Financial Instruments |
|
Cash and Non-Cash Collateral Received or Pledged |
|
Net Amount |
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Derivative assets subject to master netting arrangements |
|
$ |
433 |
|
|
$ |
— |
|
|
$ |
433 |
|
|
$ |
(368 |
) |
|
$ |
(42 |
) |
|
$ |
23 |
|
Reverse repurchase agreements |
|
1,018 |
|
|
— |
|
|
1,018 |
|
|
— |
|
|
(1,018 |
) |
|
— |
|
Total assets |
|
1,451 |
|
|
— |
|
|
1,451 |
|
|
(368 |
) |
|
(1,060 |
) |
|
23 |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Derivative liabilities subject to master netting arrangements |
|
588 |
|
|
— |
|
|
588 |
|
|
(368 |
) |
|
(201 |
) |
|
19 |
|
Total liabilities |
|
$ |
588 |
|
|
$ |
— |
|
|
$ |
588 |
|
|
$ |
(368 |
) |
|
$ |
(201 |
) |
|
$ |
19 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 26, 2015 |
|
|
|
|
|
|
|
|
Gross Amounts Not Offset in the Balance Sheet |
|
|
(In Millions) |
|
Gross Amounts Recognized |
|
Gross Amounts Offset in the Balance Sheet |
|
Net Amounts Presented in the Balance Sheet |
|
Financial Instruments |
|
Cash and Non-Cash Collateral Received or Pledged |
|
Net Amount |
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Derivative assets subject to master netting arrangements |
|
$ |
482 |
|
|
$ |
— |
|
|
$ |
482 |
|
|
$ |
(201 |
) |
|
$ |
(188 |
) |
|
$ |
93 |
|
Reverse repurchase agreements |
|
3,368 |
|
|
— |
|
|
3,368 |
|
|
— |
|
|
(3,368 |
) |
|
— |
|
Total assets |
|
3,850 |
|
|
— |
|
|
3,850 |
|
|
(201 |
) |
|
(3,556 |
) |
|
93 |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Derivative liabilities subject to master netting arrangements |
|
242 |
|
|
— |
|
|
242 |
|
|
(201 |
) |
|
(27 |
) |
|
14 |
|
Total liabilities |
|
$ |
242 |
|
|
$ |
— |
|
|
$ |
242 |
|
|
$ |
(201 |
) |
|
$ |
(27 |
) |
|
$ |
14 |
|
|
| Not Designated as Hedging Instrument [Member] |
|
| Derivative [Line Items] |
|
| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended
(In Millions) |
|
Location of Gains (Losses)
Recognized in Income on Derivatives
|
|
Dec 31,
2016 |
|
Dec 26,
2015 |
|
Dec 27,
2014 |
Foreign currency contracts |
|
Interest and other, net |
|
$ |
388 |
|
|
$ |
296 |
|
|
$ |
600 |
|
Interest rate contracts |
|
Interest and other, net |
|
8 |
|
|
(8 |
) |
|
(3 |
) |
Other |
|
Various |
|
113 |
|
|
(38 |
) |
|
62 |
|
Total |
|
$ |
509 |
|
|
$ |
250 |
|
|
$ |
659 |
|
|
| Interest and other, net [Member] | Fair Value Hedging [Member] |
|
| Derivative [Line Items] |
|
| Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] |
The effects of derivative instruments designated as fair value hedges, recognized in interest and other, net for each period were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gains (Losses)
Recognized in Statement of Income on
Derivatives
|
Years Ended
(In Millions) |
|
Dec 31,
2016 |
|
Dec 26,
2015 |
|
Dec 27,
2014 |
Interest rate contracts |
|
$ |
(171 |
) |
|
$ |
(13 |
) |
|
$ |
— |
|
Hedged items |
|
171 |
|
|
13 |
|
|
— |
|
Total |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|