Quarterly report pursuant to Section 13 or 15(d)

Investments (Tables)

v3.20.1
Investments (Tables)
 3 Months Ended
Mar. 28, 2020
Investments and Cash [Abstract]  
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
 
 
March 28, 2020
 
December 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
 
$
3,656

 
$
46

 
$
(9
)
 
$
3,693

 
$
2,914

 
$
44

 
$
—

 
$
2,958

Financial institution
instruments
 
9,482

 
12

 
(2
)
 
9,492

 
3,007

 
15

 
(1
)
 
3,021

Government debt
 
748

 
11

 
(1
)
 
758

 
560

 
4

 
—

 
564

Total available-for-sale debt investments
 
$
13,886

 
$
69

 
$
(12
)
 
$
13,943

 
$
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 March 28, 2020, was as follows:
(In Millions)
 
Fair Value
Due in 1 year or less
 
$
3,443

Due in 1–2 years
 
1,589

Due in 2–5 years
 
1,354

Due after 5 years
 
—

Instruments not due at a single maturity date
 
7,557

Total
 
$
13,943


Investment [Table Text Block]
(In Millions)
 
Mar 28,
2020
 
Dec 28,
2019
Marketable equity securities
 
$
330

 
$
450

Non-marketable equity securities
 
3,522

 
3,480

Equity method investments
 
28

 
37

Total
 
$
3,880


$
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
(In Millions)
 
Mar 28,
2020
 
Mar 30,
2019
Ongoing mark-to-market adjustments on marketable equity securities
 
$
(103
)
 
$
253

Observable price adjustments on non-marketable equity securities
 
79

 
8

Impairment charges
 
(143
)
 
(23
)
Sale of equity investments and other¹
 
56

 
196

Total gains (losses) on equity investments, net
 
$
(111
)
 
$
434


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
(In Millions)
 
Mar 28,
2020
 
Mar 30,
2019
Net gains (losses) recognized during the period on equity securities
 
$
(140
)
 
$
263

Less: Net (gains) losses recognized during the period on equity securities sold during the period
 
(7
)
 
(190
)
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date
 
$
(147
)
 
$
73