Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v3.22.1
Fair Value (Tables)
 3 Months Ended
Apr. 02, 2022
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
Apr 2, 2022 Dec 25, 2021
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 $ —  $ 1,671  $ —  $ 1,671  $ —  $ 65  $ —  $ 65 
Financial institution instruments¹ 745  1,436  —  2,181  1,216  763  —  1,979 
Government debt² 200  —  —  200  —  —  —  — 
Reverse repurchase agreements —  1,695  —  1,695  —  1,595  —  1,595 
Short-term investments:
Corporate debt —  7,878  —  7,878  —  6,367  —  6,367 
Financial institution instruments¹ 114  7,003  —  7,117  154  5,162  —  5,316 
Government debt² 648  16,838  —  17,486  50  12,693  —  12,743 
Other current assets:
Derivative assets 88  892  —  980  80  576  —  656 
Loans receivable³ —  —  —  —  —  152  —  152 
Marketable equity securities4
1,694  70  —  1,764  1,854  317  —  2,171 
Other long-term assets:
Derivative assets —  194  —  194  — 772  7  779 
Loans receivable³ —  73  —  73  — 57  — 57 
Total assets measured and recorded at fair value $ 3,489  $ 37,750  $ —  $ 41,239  $ 3,354  $ 28,519  $ 7  $ 31,880 
Liabilities
Other accrued liabilities:
Derivative liabilities $ 17  $ 608  $ —  $ 625  $ 4  $ 516  $ —  $ 520 
Other long-term liabilities:
Derivative liabilities —  104  22  126  —  9  —  9 
Total liabilities measured and recorded at fair value $ 17  $ 712  $ 22  $ 751  $ 4  $ 525  $ —  $ 529 
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.
4    Level 2 investments consist of marketable equity securities subject to security-specific restrictions.