Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

 v2.3.0.11
Fair Value (Tables)
6 Months Ended
Jul. 02, 2011
Fair Value (Tables) [Abstract]  
Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Types of Instruments) [Text Block]

Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments as of July 2, 2011 and December 25, 2010:

      July 2, 2011   December 25, 2010
      Fair Value Measured and         Fair Value Measured and      
    Recorded at Reporting Date Using       Recorded at Reporting Date Using      
(In Millions) Level 1   Level 2   Level 3   Total   Level 1   Level 2   Level 3   Total
Assets                                              
Cash equivalents:                                              
  Commercial paper $   $ 2,272   $   $ 2,272   $   $ 2,600   $   $ 2,600
  Bank deposits       889         889         560         560
  Money market fund deposits   550             550     34             34
  Government bonds   465             465     1,279     505         1,784
Short-term investments:                                              
  Commercial paper       1,505         1,505         2,712         2,712
  Corporate bonds   107     693     8     808     121     1,378     1     1,500
  Government bonds   125     451         576     4,890     1,320         6,210
  Bank deposits       210         210         858         858
  Asset-backed securities           7     7             14     14
Trading assets:                                              
  Government bonds   230     1,722         1,952     311     2,115         2,426
  Corporate bonds   204     738         942     199     916         1,115
  Municipal bonds       350         350         375         375
  Commercial paper       305         305         488         488
  Asset-backed securities           146     146             190     190
  Bank deposits       69         69         108         108
  Money market fund deposits   32             32     3             3
  Marketable equity securities   10             10     388             388
Other current assets:                                              
  Marketable equity securities                                              
  Derivative assets       209         209         330         330
  Loans receivable       36         36                
Marketable equity securities   841     51         892     785     223         1,008
Other long-term investments:                                              
  Corporate bonds   73     404     57     534     104     601     50     755
  Government bonds       351         351     83     2,002         2,085
  Bank deposits       55         55         133         133
  Asset-backed securities           52     52             53     53
Other long-term assets:                                              
  Loans receivable       651         651         642         642
  Derivative assets       2     29     31         19     31     50
Total assets measured and                                              
  recorded at fair value $ 2,637   $ 10,963   $ 299   $ 13,899   $ 8,197   $ 17,885   $ 339   $ 26,421
                                                   
Liabilities                                              
Other accrued liabilities:                                              
  Derivative liabilities $   $ 166   $ 6   $ 172   $   $ 201   $ 7   $ 208
Long-term debt           128     128             128     128
Other long-term liabilities:                                              
  Derivative liabilities       85         85         47         47
Total liabilities measured and                                              
  recorded at fair value $   $ 251   $ 134   $ 385   $   $ 248   $ 135   $ 383
Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Significant Unobservable Inputs [Level 3]) [Text Block]

The tables below present reconciliations for all assets and liabilities measured and recorded at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended July 2, 2011 and for the twelve months ended December 25, 2010:

    Fair Value Measured and Recorded Using      
    Significant Unobservable Inputs (Level 3)    
    Corporate   Asset-Backed   Derivative   Derivative   Long-term   Total Gains
(In Millions) Bonds Securities Assets Liabilities Debt (Losses)
Balance as of December 25, 2010 $ 51   $ 257   $ 31   $ (7)   $ (128)      
Total gains or losses (realized and unrealized):                                  
  Included in earnings       (1)     (2)     1         (2)
  Included in other comprehensive income (loss)   7     (1)                 6
Purchases   12     13     3              
Settlements and maturities   (5)     (63)                  
Transfers out of Level 3           (3)              
Balance as of July 2, 2011 $ 65   $ 205   $ 29   $ (6)   $ (128)      
                                     
Changes in unrealized gains or losses included in                                  
  earnings related to assets and liabilities still held                                  
  as of July 2, 2011 $   $ (1)   $ (2)   $ 1   $   $ (2)
                                     
    Fair Value Measured and Recorded Using      
    Significant Unobservable Inputs (Level 3)    
    Corporate   Asset-Backed   Derivative   Derivative   Long-term   Total Gains
(In Millions) Bonds Securities Assets Liabilities Debt (Losses)
Balance as of December 26, 2009 $ 369   $ 754   $ 31   $ (65)   $ (123)      
Total gains or losses (realized and unrealized):                                  
  Included in earnings   (2)     6     (3)     (2)     (5)     (6)
  Included in other comprehensive income (loss)   4     9                 13
Purchases   6         7              
Sales   (44)     (28)     (4)              
Settlements and maturities   (75)     (484)                  
Transfers out of Level 3   (207)             60          
Balance as of December 25, 2010 $ 51   $ 257   $ 31   $ (7)   $ (128)      
                                     
Changes in unrealized gains or losses included in                                  
  earnings related to assets and liabilities still held                                  
  as of December 25, 2010 $   $ 6   $ (4)   $ (1)   $ (5)   $ (4)
Assets Measured and Recorded at Fair Value on a Non-Recurring Basis [Text Block]

Our non-marketable equity investments and non-financial assets, such as intangible assets and property, plant and equipment, are recorded at fair value only if an impairment charge is recognized. The following table presents the financial instruments and non-financial assets that were measured and recorded at fair value on a non-recurring basis during the six months ended July 2, 2011, and the gains (losses) recorded during the three and six months ended July 2, 2011 on those assets:

                          Total Gains   Total Gains
                          (Losses) for   (Losses) for
    Net Carrying                     Three Months   Six Months
    Value as of   Fair Value Measured and Recorded Using   Ended   Ended
(In Millions) July 2, 2011   Level 1   Level 2   Level 3   July 2, 2011   July 2, 2011
Non-marketable equity investments $ 37   $   $   $ 37   $ (8)   $ (22)
Property, plant and equipment $   $   $   $   $   $ (10)
Total gains (losses) for assets held                                  
  as of July 2, 2011                         $ (8)   $ (32)
                                     
Gains (losses) for non-marketable equity                                  
Gains (losses) for property, plant and equipment                                  
  no longer held                         $ (19)   $ (45)
Total gains (losses) for recorded non-recurring                                  
  measurement                         $ (27)   $ (77)

The following table presents the financial instruments and non-financial assets that were measured and recorded at fair value on a non-recurring basis during the six months ended June 26, 2010, and the gains (losses) recorded during the three and six months ended June 26, 2010 on those assets:

                          Total Gains   Total Gains
                          (Losses) for   (Losses) for
    Net Carrying                     Three Months   Six Months
    Value as of   Fair Value Measured and Recorded Using   Ended   Ended
(In Millions) June 26, 2010   Level 1   Level 2   Level 3   June 26, 2010   June 26, 2010
Non-marketable equity investments $ 126   $   $   $ 130   $ (17)   $ (63)
Total gains (losses) for assets held                                  
  as of June 26, 2010                         $ (17)   $ (63)
                                     
Gains (losses) for property, plant and equipment                                  
  no longer held                         $ (7)   $ (40)
Gains (losses) for non-marketable equity                                  
Total gains (losses) for recorded non-recurring                                  
  measurement                         $ (24)   $ (103)
Financial Instruments Not Recorded at Fair Value on a Recurring Basis [Text Block]

We measure the fair value of our non-marketable equity investments, marketable equity method investment, debt carried at amortized cost, and cost method loans receivable quarterly for disclosure purposes; however, they are recorded at fair value only when an impairment charge is recognized. The carrying amounts and fair values of financial instruments not recorded at fair value on a recurring basis as of July 2, 2011 and December 25, 2010 were as follows:

  July 2, 2011   December 25, 2010
  Carrying   Fair   Carrying   Fair
(In Millions) Amount   Value   Amount   Value
Non-marketable equity investments $ 2,713   $ 5,725   $ 2,633   $ 5,144
Marketable equity method investment $ 34   $ 103   $ 31   $ 167
Loans receivable $ 230   $ 230   $ 208   $ 208
Long-term debt $ 1,962   $ 2,204   $ 1,949   $ 2,283