Annual report pursuant to Section 13 and 15(d)

Borrowings (Tables)

v2.4.0.6
Borrowings (Tables)
 12 Months Ended
Dec. 31, 2011
Borrowings (Tables) [Abstract]  
Schedule of Long-term Debt Instruments [Table Text Block]

Our long-term debt as of December 31, 2011 and December 25, 2010 was as follows:

(In Millions)     2011   2010
Senior notes due 2016 at 1.95% $ 1,498   $ —
Senior notes due 2021 at 3.30%   1,995     —
Senior notes due 2041 at 4.80%   1,489     —
2009 junior subordinated convertible debentures due 2039 at 3.25%   1,052     1,041
2005 junior subordinated convertible debentures due 2035 at 2.95%   919     908
2007 Arizona bonds due 2037 at 5.30%   131     128
Total long-term debt $ 7,084   $ 2,077
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
  Dec. 31,   Dec. 25,   Dec. 31,   Dec. 25,
(In Millions, Except Per Share Amounts) 2011   2010   2011   2010
Outstanding principal $ 2,000   $ 2,000   $ 1,600   $ 1,600
Equity component carrying amount $ 613   $ 613   $ 466   $ 466
Unamortized discount $ 933   $ 943   $ 669   $ 680
Net debt carrying amount $ 1,052   $ 1,041   $ 919   $ 908
Conversion rate (shares of common stock per $1,000 principal amount of debentures)   44.55     44.09     32.94     32.52
Effective conversion price (per share of common stock) $ 22.45   $ 22.68   $ 30.36   $ 30.75
Aggregate Debt Maturities [Table Text Block]

As of December 31, 2011, our aggregate debt maturities based on outstanding principal were as follows (in millions):

Year Payable  
2012 $ —
2013   —
2014   —
2015   —
2016   1,500
2017 and thereafter   7,225
Total $ 8,725