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)

6 Months Ended

Jul. 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)	Jul 2, 2016		Dec 26, 2015		Jun 27, 2015
Currency forwards	$	11,707	$	11,212	$	12,051
Currency interest rate swaps	6,975		5,509		4,789
Embedded debt derivatives	3,600		3,600		3,600
Interest rate swaps	6,439		5,212		1,006
Total return swaps	1,228		1,061		1,107
Other	79		61		72
Total	$	30,028	$	26,655	$	22,625

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)	Jul 2, 2016		Dec 26, 2015		Jun 27, 2015
Chinese yuan	$	1,852	$	2,231	$	3,380
Euro	6,572		6,084		6,193
Israeli shekel	2,069		1,674		1,632
Japanese yen	3,184		2,663		2,846
Other	5,005		4,069		2,789
Total	$	18,682	$	16,721	$	16,840

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:



	July 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	$	192	$	6	$	28	$	6	$	20	$	3	$	83	$	2
Interest rate swaps	—		209		—		—		—		1		—		14
Currency interest rate swaps	—		21		—		—		—		7		—		—
Other	—		—		—		—		—		—		—		—
Total derivatives designated as hedging instruments	192		236		28		6		20		11		83		16
Derivatives not designated as hedging instruments:
Currency forwards	50		1		42		—		20		—		63		—
Currency interest rate swaps	162		16		247		—		370		18		52		—
Embedded debt derivatives	—		—		—		13		—		—		—		17
Interest rate swaps	1		—		28		—		2		—		12		—
Total return swaps	—		—		—		—		32		—		2		—
Other	4		9		—		—		1		11		—		—
Total derivatives not designated as hedging instruments	217		26		317		13		425		29		129		17
Total derivatives	$	409	$	262	$	345	$	19	$	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:



	July 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	$	665	$	—	$	665	$	(252	)	$	(285	)	$	128
Reverse repurchase agreements	1,318		—		1,318		—			(1,318		)	—
Total assets	1,983		—		1,983		(252		)	(1,603		)	128
Liabilities:
Derivative liabilities subject to master netting arrangements	364		—		364		(252		)	(112		)	—
Total liabilities	$	364	$	—	$	364	$	(252	)	$	(112	)	$	—



	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					Six Months Ended
(In Millions)	Jul 2, 2016			Jun 27, 2015		Jul 2, 2016			Jun 27, 2015
Currency forwards	$	62		$	29	$	291		$	(200	)
Currency interest rate swaps and other	(23		)	—		(9		)	—
Total	$	39		$	29	$	282		$	(200	)

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						Six Months Ended
(In Millions)	Location of Gains (Losses) Recognized in Income on Derivatives	Jul 2, 2016			Jun 27, 2015			Jul 2, 2016			Jun 27, 2015
Currency forwards	Interest and other, net	$	41		$	4		$	(4	)	$	(14	)
Currency interest rate swaps	Interest and other, net	23			(50		)	(170		)	203
Interest rate swaps	Interest and other, net	(8		)	1			(15		)	(5		)
Total return swaps	Various	5			11			14			42
Other	Gains (losses) on equity investments, net	(2		)	—			(3		)	(6		)
Other	Interest and other, net	3			(5		)	7			(8		)
Total		$	62		$	(39	)	$	(171	)	$	212

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					Six Months Ended
(In Millions)	Jul 2, 2016			Jun 27, 2015		Jul 2, 2016			Jun 27, 2015
Interest rate swap	$	60		$	—	$	222		$	—
Hedged item	(60		)	—		(222		)	—
Total	$	—		$	—	$	—		$	—