Intel Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

Derivative Financial Instruments (Tables)

3 Months Ended

Apr. 02, 2016

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)	Apr 2, 2016		Dec 26, 2015		Mar 28, 2015
Currency forwards	$	10,744	$	11,212	$	16,192
Currency interest rate swaps	6,776		5,509		5,094
Embedded debt derivatives	3,600		3,600		3,600
Interest rate swaps	6,440		5,212		1,128
Total return swaps	1,129		1,061		1,106
Treasury rate lock agreements	1,500		—		—
Other	81		61		72
Total	$	30,270	$	26,655	$	27,192

The gross notional amounts for currency forwards and currency interest rate swaps (presented by currency) at the end of each period were as follows:



(In Millions)	Apr 2, 2016		Dec 26, 2015		Mar 28, 2015
Chinese yuan	$	2,231	$	2,231	$	4,079
Euro	5,496		6,084		7,332
Israeli shekel	1,852		1,674		2,010
Japanese yen	3,314		2,663		4,206
Other	4,627		4,069		3,659
Total	$	17,520	$	16,721	$	21,286

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The fair value of our derivative instruments at the end of each period were as follows:



	April 2, 2016								December 26, 2015
(In Millions)	Other Current Assets		Other Long-Term Assets		Other Accrued Liabilities		Other Long-Term Liabilities		Other Current Assets		Other Long-Term Assets		Other Accrued Liabilities		Other Long-Term Liabilities
Derivatives designated as hedging instruments:
Currency forwards	$	181	$	4	$	10	$	—	$	20	$	3	$	83	$	2
Interest rate swaps	—		149		—		—		—		1		—		14
Currency interest rate swaps	—		34		—		—		—		7		—		—
Other	—		—		13		—		—		—		—		—
Total derivatives designated as hedging instruments	181		187		23		—		20		11		83		16
Derivatives not designated as hedging instruments:
Currency forwards	29		1		68		—		20		—		63		—
Currency interest rate swaps	194		10		215		2		370		18		52		—
Embedded debt derivatives	—		—		—		13		—		—		—		17
Interest rate swaps	2		—		18		—		2		—		12		—
Total return swaps	—		—		—		—		32		—		2		—
Other	1		11		—		—		1		11		—		—
Total derivatives not designated as hedging instruments	226		22		301		15		425		29		129		17
Total derivatives	$	407	$	209	$	324	$	15	$	445	$	40	$	212	$	33

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:



	April 2, 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	$	595	$	—	$	595	$	(267	)	$	(232	)	$	96
Reverse repurchase agreements	768		—		768		—			(768		)	—
Total assets	1,363		—		1,363		(267		)	(1,000		)	96
Liabilities:
Derivative liabilities subject to master netting arrangements	338		—		338		(267		)	(71		)	—
Total liabilities	$	338	$	—	$	338	$	(267	)	$	(71	)	$	—



	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

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The before-tax gains (losses), attributed to the effective portion of cash flow hedges, recognized in other comprehensive income (loss) for each period were as follows:



	Three Months Ended
(In Millions)	Apr 2, 2016		Mar 28, 2015
Currency forwards	$	229	$	(229	)
Currency interest rate swaps and other	14		—
Total	$	243	$	(229	)

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 condensed statements of income for each period were as follows:



		Three Months Ended
(In Millions)	Location of Gains (Losses) Recognized in Income on Derivatives	Apr 2, 2016			Mar 28, 2015
Currency forwards	Interest and other, net	$	(45	)	$	(18	)
Currency interest rate swaps	Interest and other, net	(193		)	253
Interest rate swaps	Interest and other, net	(7		)	(6		)
Total return swaps	Various	8			31
Other	Gains (losses) on equity investments, net	(1		)	(9		)
Other	Interest and other, net	4			—
Total		$	(234	)	$	251

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:



	Three Months Ended
(In Millions)	Apr 2, 2016			Mar 28, 2015
Interest rate swap	$	162		$	—
Hedged item	(162		)	—
Total	$	—		$	—