Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v2.4.0.8
Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 29, 2013
Derivative Financial Instruments (Tables) [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
Total gross notional amounts for outstanding derivatives (recorded at fair value) at the end of each period were as follows:
 
(In Millions)
 
Jun 29,
2013
 
Dec 29,
2012
 
Jun 30,
2012
Currency forwards
 
$
12,105

 
$
13,117

 
$
11,336

Currency interest rate swaps
 
3,632

 
2,711

 
1,877

Embedded debt derivatives
 
3,600

 
3,600

 
3,600

Interest rate swaps
 
1,257

 
1,101

 
1,431

Total return swaps
 
817

 
807

 
861

Other
 
77

 
127

 
153

Total
 
$
21,488

 
$
21,463

 
$
19,258

The gross notional amounts for currency forwards and currency interest rate swaps (presented by currency) at the end of each period were as follows:
 
(In Millions)
 
Jun 29,
2013
 
Dec 29,
2012
 
Jun 30,
2012
British pound sterling
 
$
428

 
$
308

 
$
406

Chinese yuan
 
547

 
647

 
805

Euro
 
6,291

 
5,994

 
3,731

Israeli shekel
 
1,886

 
2,256

 
2,099

Japanese yen
 
3,771

 
4,389

 
4,056

Malaysian ringgit
 
422

 
442

 
870

Swiss franc
 
1,206

 
657

 
118

Other
 
1,186

 
1,135

 
1,128

Total
 
$
15,737

 
$
15,828

 
$
13,213

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The fair values of our derivative instruments at the end of each period were as follows:
 
 
 
June 29, 2013
 
December 29, 2012
(In Millions)
 
Other
Current
Assets
 
Other
Long-Term
Assets
 
Other
Accrued
Liabilities
 
Other
Long-Term
Liabilities
 
Other
Current
Assets
 
Other
Long-Term
Assets
 
Other
Accrued
Liabilities
 
Other
Long-Term
Liabilities
Derivatives designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency forwards
 
$
101

 
$
2

 
$
202

 
$
3

 
$
91

 
$
2

 
$
127

 
$

Other
 

 

 

 

 

 

 

 

Total derivatives designated as hedging instruments
 
$
101

 
$
2

 
$
202

 
$
3

 
$
91

 
$
2

 
$
127

 
$

Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency forwards
 
$
42

 
$

 
$
85

 
$

 
$
85

 
$

 
$
58

 
$

Currency interest rate swaps
 
76

 
18

 
116

 
14

 
33

 
18

 
72

 
14

Embedded debt derivatives
 

 

 

 
25

 

 

 

 
6

Interest rate swaps
 
3

 

 
38

 

 

 

 
34

 

Total return swaps
 

 

 
5

 

 
11

 

 

 

Other
 
1

 
25

 

 

 
1

 
18

 
1

 

Total derivatives not designated as hedging instruments
 
$
122

 
$
43

 
$
244

 
$
39

 
$
130

 
$
36

 
$
165

 
$
20

Total derivatives
 
$
223

 
$
45

 
$
446

 
$
42

 
$
221

 
$
38

 
$
292

 
$
20

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]
The before-tax gains (losses), attributed to the effective portion of cash flow hedges, recognized in other comprehensive income during each period were as follows:
 
 
Three Months Ended
 
Six Months Ended
(In Millions)
 
Jun 29,
2013
 
Jun 30,
2012
 
Jun 29,
2013
 
Jun 30,
2012
Currency forwards
 
$
47

 
$
(41
)
 
$
(189
)
 
$
(115
)
Other
 

 
(1
)
 
1

 
(1
)
Total
 
$
47

 
$
(42
)
 
$
(188
)
 
$
(116
)
Not Designated as Hedging Instrument [Member]
 
Derivative Financial Instruments (Tables) [Abstract]  
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The effects of derivative instruments not designated as hedging instruments on the consolidated condensed statements of income during each period were as follows:
 
 
 
 
 
Three Months Ended
 
Six Months Ended
(In Millions)
 
Location of Gains (Losses)
Recognized in Income on Derivatives
 
Jun 29,
2013
 
Jun 30,
2012
 
Jun 29,
2013
 
Jun 30,
2012
Currency forwards
 
Interest and other, net
 
$
(6
)
 
$
(43
)
 
$
50

 
$
(28
)
Currency interest rate swaps
 
Interest and other, net
 
(44
)
 
69

 
56

 
13

Interest rate swaps
 
Interest and other, net
 
3

 
4

 
3

 
34

Total return swaps
 
Various
 
(19
)
 
(57
)
 
29

 
2

Other
 
Gains (losses) on equity investments, net
 
5

 

 
7

 
(2
)
Total
 
 
 
$
(61
)
 
$
(27
)
 
$
145

 
$
19