Quarterly report pursuant to Section 13 or 15(d)

Investments (Tables)

v3.19.2
Investments (Tables)
 6 Months Ended
Jun. 29, 2019
Investments and Cash [Abstract]  
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 
 
June 29, 2019
 
December 29, 2018
(In Millions)
 
Adjusted Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Adjusted Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
Corporate debt
 
$
3,160

 
$
45

 
$
(4
)
 
$
3,201

 
$
3,068

 
$
2

 
$
(28
)
 
$
3,042

Financial institution
instruments
 
3,034

 
18

 
(1
)
 
3,051

 
3,076

 
3

 
(11
)
 
3,068

Government debt
 
903

 
6

 
—

 
909

 
1,069

 
1

 
(9
)
 
1,061

Total available-for-sale debt investments
 
$
7,097

 
$
69

 
$
(5
)
 
$
7,161

 
$
7,213

 
$
6

 
$
(48
)
 
$
7,171


Investments Classified by Contractual Maturity Date [Table Text Block]
The fair value of available-for-sale debt investments, by contractual maturity, as of June 29, 2019, was as follows:
(In Millions)
 
Fair Value
Due in 1 year or less
 
$
3,174

Due in 1–2 years
 
733

Due in 2–5 years
 
2,722

Due after 5 years
 
122

Instruments not due at a single maturity date
 
410

Total
 
$
7,161


Investment [Table Text Block]
(In Millions)
 
Jun 29,
2019
 
Dec 29,
2018
Marketable equity securities
 
$
197

 
$
1,440

Non-marketable equity securities
 
3,134

 
2,978

Equity method investments
 
1,298

 
1,624

Total
 
$
4,629


$
6,042


Gain (Loss) on Securities [Table Text Block]
The components of gains (losses) on equity investments, net for each period were as follows:
 
 
Three Months Ended
 
Six Months Ended
(In Millions)
 
Jun 29,
2019
 
Jun 30,
2018
 
Jun 29,
2019
 
Jun 30,
2018
Ongoing mark-to-market adjustments on marketable equity securities
 
$
(179
)
 
$
(235
)
 
$
74

 
$
371

Observable price adjustments on non-marketable equity securities
 
8

 
24

 
16

 
148

Impairments
 
(39
)
 
(26
)
 
(62
)
 
(43
)
Sale of equity investments and other¹
 
380

 
34

 
576

 
(36
)
Total gains (losses) on equity investments, net
 
$
170

 
$
(203
)
 
$
604

 
$
440


1 Sale of equity investments and other includes realized gains (losses) on sales of non-marketable equity investments, our share of equity method investee gains (losses) and distributions, and initial fair value adjustments recorded upon a security becoming marketable.
Gains and losses for our marketable and non-marketable equity securities during the period were as follows:
 
 
Three Months Ended
 
Six Months Ended
(In Millions)
 
Jun 29,
2019
 
Jun 30,
2018
 
Jun 29,
2019
 
Jun 30,
2018
Net gains (losses) recognized during the period on equity securities
 
$
(178
)
 
$
(133
)
 
$
84

 
$
592

Less: Net (gains) losses recognized during the period on equity securities sold during the period
 
(33
)
 
(11
)
 
(258
)
 
(49
)
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date
 
$
(211
)
 
$
(144
)
 
$
(174
)
 
$
543