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Financial Instruments (Tables) | 9 Months Ended
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Jul. 01, 2017
Investments, Debt and Equity Securities [Abstract] |
Cash and Available-for-Sale Securities by Significant Investment Category | The following tables show the Company’s cash and available-for-sale securities by significant investment category as of July 1, 2017 and September 24, 2016 (in millions):
| July 1, 2017
| Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Short-Term Marketable Securities |  | Long-Term Marketable Securities
Cash | $ | 8,529 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,529 |  |  | $ | 8,529 |  |  | $ | — |  |  | $ | — |
Level 1 (1): |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 3,088 |  |  | — |  |  | — |  |  | 3,088 |  |  | 3,088 |  |  | — |  |  | — |
Mutual funds | 1,004 |  |  | — |  |  | (118 | ) |  | 886 |  |  | — |  |  | 886 |  |  | — |
Subtotal | 4,092 |  |  | — |  |  | (118 | ) |  | 3,974 |  |  | 3,088 |  |  | 886 |  |  | — |
Level 2 (2): |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | 52,616 |  |  | 77 |  |  | (230 | ) |  | 52,463 |  |  | 1,013 |  |  | 20,104 |  |  | 31,346 |
U.S. agency securities | 5,328 |  |  | 3 |  |  | (9 | ) |  | 5,322 |  |  | 2,255 |  |  | 1,774 |  |  | 1,293 |
Non-U.S. government securities | 6,987 |  |  | 156 |  |  | (50 | ) |  | 7,093 |  |  | — |  |  | 64 |  |  | 7,029 |
Certificates of deposit and time deposits | 6,731 |  |  | — |  |  | — |  |  | 6,731 |  |  | 894 |  |  | 5,191 |  |  | 646 |
Commercial paper | 5,187 |  |  | — |  |  | — |  |  | 5,187 |  |  | 2,683 |  |  | 2,504 |  |  | — |
Corporate securities | 150,089 |  |  | 882 |  |  | (312 | ) |  | 150,659 |  |  | 109 |  |  | 27,522 |  |  | 123,028 |
Municipal securities | 938 |  |  | 3 |  |  | (2 | ) |  | 939 |  |  | — |  |  | 127 |  |  | 812 |
Mortgage- and asset-backed securities | 20,762 |  |  | 34 |  |  | (177 | ) |  | 20,619 |  |  | — |  |  | 16 |  |  | 20,603 |
Subtotal | 248,638 |  |  | 1,155 |  |  | (780 | ) |  | 249,013 |  |  | 6,954 |  |  | 57,302 |  |  | 184,757 |
Total | $ | 261,259 |  |  | $ | 1,155 |  |  | $ | (898 | ) |  | $ | 261,516 |  |  | $ | 18,571 |  |  | $ | 58,188 |  |  | $ | 184,757 |
| September 24, 2016
| Adjusted Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Short-Term Marketable Securities |  | Long-Term Marketable Securities
Cash | $ | 8,601 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,601 |  |  | $ | 8,601 |  |  | $ | — |  |  | $ | — |
Level 1 (1): |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 3,666 |  |  | — |  |  | — |  |  | 3,666 |  |  | 3,666 |  |  | — |  |  | — |
Mutual funds | 1,407 |  |  | — |  |  | (146 | ) |  | 1,261 |  |  | — |  |  | 1,261 |  |  | — |
Subtotal | 5,073 |  |  | — |  |  | (146 | ) |  | 4,927 |  |  | 3,666 |  |  | 1,261 |  |  | — |
Level 2 (2): |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | 41,697 |  |  | 319 |  |  | (4 | ) |  | 42,012 |  |  | 1,527 |  |  | 13,492 |  |  | 26,993 |
U.S. agency securities | 7,543 |  |  | 16 |  |  | — |  |  | 7,559 |  |  | 2,762 |  |  | 2,441 |  |  | 2,356 |
Non-U.S. government securities | 7,609 |  |  | 259 |  |  | (27 | ) |  | 7,841 |  |  | 110 |  |  | 818 |  |  | 6,913 |
Certificates of deposit and time deposits | 6,598 |  |  | — |  |  | — |  |  | 6,598 |  |  | 1,108 |  |  | 3,897 |  |  | 1,593 |
Commercial paper | 7,433 |  |  | — |  |  | — |  |  | 7,433 |  |  | 2,468 |  |  | 4,965 |  |  | — |
Corporate securities | 131,166 |  |  | 1,409 |  |  | (206 | ) |  | 132,369 |  |  | 242 |  |  | 19,599 |  |  | 112,528 |
Municipal securities | 956 |  |  | 5 |  |  | — |  |  | 961 |  |  | — |  |  | 167 |  |  | 794 |
Mortgage- and asset-backed securities | 19,134 |  |  | 178 |  |  | (28 | ) |  | 19,284 |  |  | — |  |  | 31 |  |  | 19,253 |
Subtotal | 222,136 |  |  | 2,186 |  |  | (265 | ) |  | 224,057 |  |  | 8,217 |  |  | 45,410 |  |  | 170,430 |
Total | $ | 235,810 |  |  | $ | 2,186 |  |  | $ | (411 | ) |  | $ | 237,585 |  |  | $ | 20,484 |  |  | $ | 46,671 |  |  | $ | 170,430 |
(1) | Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.
(2) | Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Derivative Instruments at Gross Fair Value | The following tables show the Company’s derivative instruments at gross fair value as of July 1, 2017 and September 24, 2016 (in millions):
| July 1, 2017
| Fair Value of Derivatives Designated as Hedge Instruments |  | Fair Value of Derivatives Not Designated as Hedge Instruments |  | Total Fair Value
Derivative assets (1): |  |  |  |  |
Foreign exchange contracts | $ | 485 |  |  | $ | 242 |  |  | $ | 727 |
Interest rate contracts | $ | 253 |  |  | $ | — |  |  | $ | 253 |
Derivative liabilities (2): |  |  |  |  |
Foreign exchange contracts | $ | 842 |  |  | $ | 362 |  |  | $ | 1,204 |
Interest rate contracts | $ | 264 |  |  | $ | — |  |  | $ | 264 |
| September 24, 2016
| Fair Value of Derivatives Designated as Hedge Instruments |  | Fair Value of Derivatives Not Designated as Hedge Instruments |  | Total Fair Value
Derivative assets (1): |  |  |  |  |
Foreign exchange contracts | $ | 518 |  |  | $ | 153 |  |  | $ | 671 |
Interest rate contracts | $ | 728 |  |  | $ | — |  |  | $ | 728 |
Derivative liabilities (2): |  |  |  |  |
Foreign exchange contracts | $ | 935 |  |  | $ | 134 |  |  | $ | 1,069 |
Interest rate contracts | $ | 7 |  |  | $ | — |  |  | $ | 7 |
(1) | The fair value of derivative assets is measured using Level 2 fair value inputs and is recorded as other current assets in the Condensed Consolidated Balance Sheets.
(2) | The fair value of derivative liabilities is measured using Level 2 fair value inputs and is recorded as accrued expenses in the Condensed Consolidated Balance Sheets.
Pre-Tax Gains and Losses of Derivative and Non-Derivative Instruments Designated as Cash Flow, Net Investment and Fair Value Hedges | The following table shows the pre-tax gains and losses of the Company’s derivative and non-derivative instruments designated as cash flow, net investment and fair value hedges in OCI and the Condensed Consolidated Statements of Operations for the three- and nine-month periods ended July 1, 2017 and June 25, 2016 (in millions):
| Three Months Ended |  | Nine Months Ended
| July 1, 2017 |  | June 25, 2016 |  | July 1, 2017 |  | June 25, 2016
Gains/(Losses) recognized in OCI – effective portion: |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |
Foreign exchange contracts | $ | (143 | ) |  | $ | (170 | ) |  | $ | 1,267 |  |  | $ | 18 |
Interest rate contracts | (2 | ) |  | (11 | ) |  | 7 |  |  | (53 | )
Total | $ | (145 | ) |  | $ | (181 | ) |  | $ | 1,274 |  |  | $ | (35 | )
Net investment hedges: |  |  |  |  |  |  |
Foreign currency debt | $ | 16 |  |  | $ | (128 | ) |  | $ | 53 |  |  | $ | (205 | )
Gains/(Losses) reclassified from AOCI into net income – effective portion: |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |
Foreign exchange contracts | $ | 585 |  |  | $ | 142 |  |  | $ | 1,418 |  |  | $ | 1,325 |
Interest rate contracts | — |  |  | (3 | ) |  | (3 | ) |  | (10 | )
Total | $ | 585 |  |  | $ | 139 |  |  | $ | 1,415 |  |  | $ | 1,315 |
Gains/(Losses) on derivative instruments: |  |  |  |  |  |  |
Fair value hedges: |  |  |  |  |  |  |
Interest rate contracts | $ | 185 |  |  | $ | 345 |  |  | $ | (737 | ) |  | $ | 484 |
Gains/(Losses) related to hedged items: |  |  |  |  |  |  |
Fair value hedges: |  |  |  |  |  |  |
Fixed-rate debt | $ | (185 | ) |  | $ | (345 | ) |  | $ | 737 |  |  | $ | (484 | )
Notional Amounts of Outstanding Derivative Instruments and Credit Risk Amounts Associated with Outstanding or Unsettled Derivative Instruments | The following table shows the notional amounts of the Company’s outstanding derivative instruments and credit risk amounts associated with outstanding or unsettled derivative instruments as of July 1, 2017 and September 24, 2016 (in millions):
| July 1, 2017 |  | September 24, 2016
| Notional Amount |  | Credit Risk Amount |  | Notional Amount |  | Credit Risk Amount
Instruments designated as accounting hedges: |  |  |  |  |  |  |
Foreign exchange contracts | $ | 43,700 |  |  | $ | 485 |  |  | $ | 44,678 |  |  | $ | 518 |
Interest rate contracts | $ | 31,500 |  |  | $ | 253 |  |  | $ | 24,500 |  |  | $ | 728 |
Instruments not designated as accounting hedges: |  |  |  |  |  |  |
Foreign exchange contracts | $ | 48,774 |  |  | $ | 242 |  |  | $ | 54,305 |  |  | $ | 153 |

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