Cash, cash equivalents and current marketable securities

12 Months Ended

Dec. 29, 2024

Cash and Cash Equivalents [Abstract]

Cash, cash equivalents and current marketable securities

At the end of the fiscal year 2024 and 2023, cash, cash equivalents and current marketable securities comprised:


(Dollars in Millions)	2024
	Carrying Amount	Unrecognized Gain	Estimated Fair Value	Cash & Cash Equivalents		Current Marketable Securities
Cash	$2,918	—	2,918		2,918	—

Non-U.S. Sovereign Securities(1)	120	—	120		—	120
U.S. Reverse repurchase agreements	7,100	—	7,100		7,100	—


Money market funds	6,123	—	6,123		6,123	—
Time deposits(1)	1,045	—	1,045		1,045	—
Subtotal	$17,306	—	17,306		17,186	120

U.S. Gov't Securities	$6,815	1	6,816		6,796	20

Other Sovereign Securities	176	—	176		83	93
Corporate and other debt securities	224	—	224		40	184

Subtotal available for sale(2)	$7,215	1	7,216		6,919	297

Total cash, cash equivalents and current marketable securities					$24,105	417


(Dollars in Millions)	2023
	Carrying Amount	Unrecognized Loss	Estimated Fair Value	Cash & Cash Equivalents		Current Marketable Securities
Cash	$3,340	—	3,340		3,340	—

Non-U.S. Sovereign Securities(1)	522	—	522		174	348
U.S. Reverse repurchase agreements	4,377	—	4,377		4,377	—

Corporate debt securities(1)	338	—	338		189	149
Money market funds	4,814	—	4,814		4,814	—
Time deposits(1)	662	—	662		662	—
Subtotal	14,053	—	14,053		13,556	497

U.S. Gov't Securities	$8,562	—	8,562		8,259	303
U.S. Gov't Agencies	71	(1)	70		—	70
Other Sovereign Securities	5	—	5		1	4
Corporate and other debt securities	237		237		43	194

Subtotal available for sale(2)	$8,875	(1)	8,874		8,303	571

Total cash, cash equivalents and current marketable securities					$21,859	1,068

(1)Held to maturity investments are reported at amortized cost and realized gains or losses are reported in earnings.

(2)Available for sale debt securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income.

Fair value of government securities and obligations and corporate debt securities were estimated using quoted broker prices and significant other observable inputs.

The contractual maturities of the available for sale debt securities at December 29, 2024 are as follows:


(Dollars in Millions)	Cost Basis	Fair Value
Due within one year	$7,204	7,205
Due after one year through five years	11	11
Due after five years through ten years	—	—
Total debt securities	$7,215	7,216

The Company invests its excess cash in both deposits with major banks throughout the world and other high-quality money market instruments. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating.