Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v3.21.2
Fair Value (Tables)
 9 Months Ended
Sep. 25, 2021
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
Sep 25, 2021 Dec 26, 2020
Fair Value Measured and Recorded at Reporting Date Using
 
 Fair Value Measured and Recorded at Reporting Date Using  
(In Millions)
Level 1
Level 2
Level 3
 Total Level 1 Level 2 Level 3 Total
Assets
Cash equivalents:
Corporate debt $ —  $ 736  $ —  $ 736  $ —  $ 50  $ —  $ 50 
Financial institution instruments¹ 2,035  718  —  2,753  2,781  636  —  3,417 
Government debt² 2,200  164  —  2,364  —  —  —  — 
Reverse repurchase agreements —  1,350  —  1,350  —  1,900  —  1,900 
Short-term investments:
Corporate debt —  870  —  870  —  428  —  428 
Financial institution instruments¹ —  2,066  —  2,066  —  1,179  —  1,179 
Government debt² —  1,068  —  1,068  —  685  —  685 
Trading assets:
Corporate debt —  5,121  —  5,121  —  3,815  —  3,815 
Financial institution instruments¹ 67  4,014  —  4,081  131  2,847  —  2,978 
Government debt² —  13,559  —  13,559  —  8,945  —  8,945 
Other current assets:
Derivative assets 4  323  —  327  48  644  —  692 
Loans receivable³ —  211  —  211  —  439  —  439 
Marketable equity securities 272  1,792  —  2,064  136  1,694  —  1,830 
Other long-term investments:
Corporate debt —  684  —  684   — 1,520   — 1,520 
Financial institution instruments¹ —  203  —  203   — 257   — 257 
Government debt² —  66  —  66   — 415   — 415 
Other long-term assets:
Derivative assets —  961  13  974  — 1,520  30  1,550 
Loans receivable³ —  —  —  —  — 157  — 157 
Total assets measured and recorded at fair value $ 4,578  $ 33,906  $ 13  $ 38,497  $ 3,096  $ 27,131  $ 30  $ 30,257 
Liabilities
Other accrued liabilities:
Derivative liabilities $ 29  $ 527  $ —  $ 556  $ —  $ 810  $ —  $ 810 
Other long-term liabilities:
Derivative liabilities —  9  —  9  —  5  —  5 
Total liabilities measured and recorded at fair value $ 29  $ 536  $ —  $ 565  $ —  $ 815  $ —  $ 815 
1Level 1 investments consist of money market funds. Level 2 investments consist primarily of commercial paper, certificates of deposit, time deposits, and notes and bonds issued by financial institutions.
2Level 1 investments consist primarily of U.S. Treasury securities. Level 2 investments consist primarily of U.S. agency notes and non-U.S. government debt.
3The fair value of our loans receivable for which we elected the fair value option did not significantly differ from the contractual principal balance.