Investments (Tables)
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9 Months Ended |
Sep. 29, 2018 |
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| Investments and Cash [Abstract] |
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| Schedule of Available-for-sale Securities Reconciliation [Table Text Block] |
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September 29, 2018 |
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December 30, 2017 |
(In Millions) |
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Adjusted Cost |
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Gross Unrealized Gains |
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Gross Unrealized Losses |
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Fair Value |
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Adjusted Cost |
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Gross Unrealized Gains |
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Gross Unrealized Losses |
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Fair Value |
Corporate debt |
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$ |
2,647 |
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$ |
2 |
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$ |
(29 |
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$ |
2,620 |
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$ |
2,294 |
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$ |
4 |
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$ |
(13 |
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$ |
2,285 |
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Financial institution instruments |
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3,647 |
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3 |
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(18 |
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3,632 |
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3,387 |
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3 |
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(9 |
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3,381 |
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Government debt |
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940 |
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— |
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(14 |
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926 |
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961 |
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— |
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(6 |
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955 |
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Total available-for-sale debt investments |
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$ |
7,234 |
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$ |
5 |
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$ |
(61 |
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$ |
7,178 |
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$ |
6,642 |
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$ |
7 |
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$ |
(28 |
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$ |
6,621 |
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| Investments Classified by Contractual Maturity Date [Table Text Block] |
The fair value of available-for-sale debt investments, by contractual maturity, as of September 29, 2018, was as follows:
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(In Millions) |
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Fair Value |
Due in 1 year or less |
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$ |
3,138 |
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Due in 1–2 years |
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782 |
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Due in 2–5 years |
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2,662 |
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Due after 5 years |
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118 |
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Instruments not due at a single maturity date |
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478 |
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Total |
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$ |
7,178 |
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| Investment [Table Text Block] |
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(In Millions) |
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Sep 29,
2018 |
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Dec 30,
2017 |
Marketable equity securities |
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$ |
3,039 |
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$ |
4,192 |
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Non-marketable equity securities |
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2,878 |
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2,613 |
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Equity method investments |
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1,634 |
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1,774 |
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Total |
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$ |
7,551 |
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$ |
8,579 |
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| Gain (Loss) on Securities [Table Text Block] |
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Three Months Ended |
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Nine Months Ended |
(In Millions) |
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Sep 29,
2018 |
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Sep 29,
2018 |
Net gains (losses) recognized during the period on equity securities |
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$ |
(75 |
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$ |
518 |
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Less: Net (gains) losses recognized during the period on equity securities sold during the period |
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(225 |
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(463 |
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Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date |
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$ |
(300 |
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$ |
55 |
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The components of gains (losses) on equity investments, net for each period were as follows:
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Three Months Ended |
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Nine Months Ended |
(In Millions) |
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Sep 29,
2018 |
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Sep 30,
2017 |
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Sep 29,
2018 |
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Sep 30,
2017 |
Initial mark to market adjustments on marketable equity securities1 2
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$ |
— |
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$ |
— |
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$ |
46 |
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$ |
— |
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Ongoing mark to market adjustments on marketable equity securities1 2
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8 |
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— |
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379 |
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— |
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Gains (losses) on sales2
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57 |
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944 |
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68 |
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2,020 |
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Observable price adjustments on non-marketable equity securities2
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43 |
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— |
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191 |
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— |
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Impairments |
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(328 |
) |
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(10 |
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(372 |
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(613 |
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Share of equity method investee gains (losses) |
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— |
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(110 |
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(152 |
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(129 |
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Dividends |
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1 |
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— |
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39 |
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68 |
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Other |
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144 |
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22 |
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166 |
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94 |
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Total gains (losses) on equity investments, net |
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$ |
(75 |
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$ |
846 |
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$ |
365 |
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$ |
1,440 |
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1 |
Initial mark to market adjustments refers to the fair value adjustment recorded upon a security becoming marketable, generally as a result of an initial public offering (IPO), whereas ongoing mark to market adjustments refers to all post-IPO mark to market adjustments. |
2 Both initial and ongoing mark to market adjustments and observable price adjustments relate to the new financial instruments standard adopted in the first quarter of 2018, and are not applicable in prior periods. Gains (losses) on sales includes realized gains (losses) on sales of non-marketable equity securities and equity method investments, and in 2017 also includes realized gains (losses) on sales of available-for-sale equity securities which are now reflected in ongoing mark to market adjustments on marketable equity securities.
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