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
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December 26, 2020 |
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December 28, 2019 |
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Fair Value Measured and
Recorded at Reporting Date Using
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Total |
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Fair Value Measured and
Recorded at Reporting Date Using
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Total |
(In Millions) |
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Level 1 |
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Level 2 |
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Level 3 |
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Level 1 |
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Level 2 |
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Level 3 |
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Assets |
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Cash equivalents: |
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Corporate debt |
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— |
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$ |
50 |
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$ |
— |
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$ |
50 |
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— |
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$ |
713 |
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— |
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$ |
713 |
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Financial institution instruments1
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2,781 |
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636 |
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— |
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3,417 |
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1,064 |
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408 |
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— |
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1,472 |
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Reverse repurchase agreements |
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— |
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1,900 |
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— |
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1,900 |
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— |
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1,500 |
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— |
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1,500 |
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Short-term investments: |
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Corporate debt |
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— |
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428 |
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— |
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428 |
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— |
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347 |
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— |
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347 |
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Financial institution instruments1
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— |
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1,179 |
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— |
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1,179 |
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— |
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724 |
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— |
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724 |
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Government debt2
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— |
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685 |
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— |
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685 |
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— |
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11 |
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— |
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11 |
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Trading assets: |
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Corporate debt |
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— |
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3,815 |
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— |
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3,815 |
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— |
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2,848 |
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— |
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2,848 |
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Financial institution instruments1
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131 |
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2,847 |
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— |
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2,978 |
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87 |
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1,578 |
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— |
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1,665 |
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Government debt2
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— |
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8,945 |
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— |
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8,945 |
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— |
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3,334 |
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— |
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3,334 |
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Other current assets: |
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Derivative assets |
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48 |
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644 |
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— |
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692 |
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50 |
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230 |
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— |
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280 |
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Loans receivable3
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— |
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439 |
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— |
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439 |
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— |
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— |
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— |
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— |
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Marketable equity securities |
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136 |
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1,694 |
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— |
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1,830 |
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450 |
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— |
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— |
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450 |
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Other long-term investments: |
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Corporate debt |
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— |
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1,520 |
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— |
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1,520 |
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— |
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1,898 |
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— |
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1,898 |
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Financial institution instruments1
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— |
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257 |
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— |
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257 |
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— |
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825 |
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— |
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825 |
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Government debt2
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— |
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415 |
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— |
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415 |
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— |
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553 |
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— |
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553 |
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Other long-term assets: |
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Derivative assets |
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— |
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1,520 |
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30 |
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1,550 |
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— |
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690 |
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16 |
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706 |
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Loans receivable3
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— |
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157 |
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— |
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157 |
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— |
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554 |
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— |
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554 |
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Total assets measured and recorded at fair value |
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$ |
3,096
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$ |
27,131
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$ |
30
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$ |
30,257
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$ |
1,651
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$ |
16,213
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$ |
16
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$ |
17,880
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Liabilities |
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Other accrued liabilities: |
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Derivative liabilities |
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$ |
— |
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$ |
810 |
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$ |
— |
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$ |
810 |
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$ |
3 |
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$ |
287 |
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$ |
— |
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$ |
290 |
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Other long-term liabilities: |
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Derivative liabilities |
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— |
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5 |
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— |
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5 |
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— |
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13 |
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— |
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13 |
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Total liabilities measured and recorded at fair value |
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$ |
—
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$ |
815
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$ |
—
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$ |
815
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$ |
3
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$ |
300
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$ |
—
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$ |
303
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1Level 1 investments in financial institution instruments 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 2 investments in government debt consist primarily of U.S. agency notes and non-U.S. government debt, as well as marketable equity securities subject to security-specific restrictions.
3 The fair value of our loans receivable for which we elected the fair value option did not significantly differ from the contractual principal balance based on the contractual currency.
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