Quarterly report pursuant to Section 13 or 15(d)

Investments (Tables)

v3.20.2
Investments (Tables)
6 Months Ended
Jun. 27, 2020
Investments and Cash [Abstract]  
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
Jun 27, 2020 Dec 28, 2019
(In Millions)
Adjusted Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Adjusted Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Corporate debt $ 3,911    $ 94    $ —    $ 4,005    $ 2,914    $ 44    $ —    $ 2,958   
Financial institution
instruments
7,985    24    —    8,009    3,007    15    (1)   3,021   
Government debt 2,491    12    —    2,503    560      —    564   
Total available-for-sale debt investments $ 14,387    $ 130    $ —    $ 14,517    $ 6,481    $ 63    $ (1)   $ 6,543   
Investments Classified by Contractual Maturity Date [Table Text Block]
The fair value of available-for-sale debt investments, by contractual maturity, as of June 27, 2020, was as follows:
(In Millions)
Fair Value
Due in 1 year or less
$ 7,763   
Due in 1–2 years
1,525   
Due in 2–5 years
1,359   
Due after 5 years
—   
Instruments not due at a single maturity date
3,870   
Total
$ 14,517   
Investment [Table Text Block]
(In Millions)
Jun 27, 2020 Dec 28, 2019
Marketable equity securities
$ 464    $ 450   
Non-marketable equity securities
3,419    3,480   
Equity method investments
18    37   
Total
$ 3,901   

$ 3,967   
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 27, 2020 Jun 29, 2019 Jun 27, 2020 Jun 29, 2019
Ongoing mark-to-market adjustments on marketable equity securities $ 165    $ (179)   $ 62    $ 74   
Observable price adjustments on non-marketable equity securities
58      137    16   
Impairment charges
(51)   (39)   (193)   (62)  
Sale of equity investments and other¹ 95    380    150    576   
Total gains (losses) on equity investments, net
$ 267    $ 170    $ 156    $ 604   
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 27, 2020 Jun 29, 2019 Jun 27, 2020 Jun 29, 2019
Net gains (losses) recognized during the period on equity securities
$ 223    $ (178)   $ 83    $ 84   
Less: Net (gains) losses recognized during the period on equity securities sold during the period (55)   (33)   (58)   (258)  
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date $ 168    $ (211)   $ 25    $ (174)