Annual report pursuant to Section 13 and 15(d)

Fair Value (Tables)

v3.21.4
Fair Value (Tables)
 12 Months Ended
Dec. 25, 2021
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
December 25, 2021 December 26, 2020
Fair Value Measured and
Recorded at Reporting Date Using
Total
 Fair Value Measured and
Recorded at Reporting Date Using		 Total
(In Millions)
Level 1
Level 2
Level 3
 Level 1 Level 2 Level 3
Assets
Cash equivalents:
Corporate debt $ —  $ 65  $ —  $ 65  $ — $ 50  $ — $ 50 
Financial institution instruments1
1,216  763  —  1,979  2,781  636  — 3,417 
Reverse repurchase
    agreements		 —  1,595  —  1,595  — 1,900  — 1,900 
Short-term investments:
Corporate debt —  648  —  648  — 428  — 428 
Financial institution instruments1
—  1,243  —  1,243  — 1,179  — 1,179 
Government debt2
—  212  —  212  — 685  — 685 
Trading assets:
Corporate debt —  5,143  —  5,143  — 3,815  — 3,815 
Financial institution instruments1
154  3,729  —  3,883  131  2,847  — 2,978 
Government debt2
—  12,457  —  12,457  — 8,945  — 8,945 
Other current assets:
Derivative assets 80  576  —  656  48  644  — 692 
Loans receivable3
—  152  —  152  — 439  — 439 
Marketable equity securities 1,854  317  —  2,171  136  1,694  — 1,830 
Other long-term investments:
Corporate debt —  576  —  576  — 1,520  — 1,520 
Financial institution instruments1
—  190  —  190  — 257  — 257 
Government debt2
50  24  —  74  — 415  — 415 
Other long-term assets:
Derivative assets —  772  7  779  — 1,520  30  1,550 
Loans receivable3
—  57  —  57  — 157  — 157 
Total assets measured and recorded at fair value $ 3,354  $ 28,519  $ 7  $ 31,880  $ 3,096  $ 27,131  $ 30  $ 30,257 
Liabilities
Other accrued liabilities:
Derivative liabilities $ 4  $ 516  $ —  $ 520  $ — $ 810  $ — $ 810 
Other long-term liabilities:
Derivative liabilities —  9  —  9  — 5  — 5 
Total liabilities measured and recorded at fair value $ 4  $ 525  $ —  $ 529  $ — $ 815  $ — $ 815 
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 1 investments consist primarily of US Treasury securities. Level 2 investments in government debt consist primarily of non-US 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.