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Financial Instruments (Tables) | 3 Months Ended
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Apr. 01, 2023
Investments, Debt and Equity Securities [Abstract] |
Fair Value, Assets Measured on Recurring Basis | Financial Instruments Recorded at Fair Value on a Recurring Basis
| April 1, 2023 |  | December 31, 2022
(In millions) | Level 1 |  | Level 2 |  | Total |  | Level 1 |  | Level 2 |  | Total
Cash equivalents |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 2,624 |  |  | $ | — |  |  | $ | 2,624 |  |  | $ | 3,017 |  |  | $ | — |  |  | $ | 3,017 |
Commercial paper | — |  |  | 149 |  |  | 149 |  |  | — |  |  | 224 |  |  | 224 |
U.S. Treasury and agency securities | 248 |  |  | — |  |  | 248 |  |  | — |  |  | — |  |  | — |
Time deposits and certificate of deposits | — |  |  | 65 |  |  | 65 |  |  | — |  |  | 159 |  |  | 159 |
Short-term investments |  |  |  |  |  |  |  |  |  |  |
Commercial paper | — |  |  | 814 |  |  | 814 |  |  | — |  |  | 441 |  |  | 441 |
Asset-backed and mortgage-backed securities | — |  |  | 38 |  |  | 38 |  |  | — |  |  | 39 |  |  | 39 |
U.S. Treasury and agency securities | 868 |  |  | — |  |  | 868 |  |  | 466 |  |  | — |  |  | 466 |
Foreign government securities | — |  |  | 394 |  |  | 394 |  |  | — |  |  | 74 |  |  | 74 |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |
Time deposits and certificates of deposits | — |  |  | 10 |  |  | 10 |  |  | — |  |  | 9 |  |  | 9 |
Equity investments | 8 |  |  | — |  |  | 8 |  |  | 8 |  |  | — |  |  | 8 |
Deferred compensation plan investments | 98 |  |  | — |  |  | 98 |  |  | 90 |  |  | — |  |  | 90 |
Total assets measured at fair value | $ | 3,846 |  |  | $ | 1,470 |  |  | $ | 5,316 |  |  | $ | 3,581 |  |  | $ | 946 |  |  | $ | 4,527 |
Summary of Investment Holdings, Schedule of Investments | The following is a summary of cash equivalents and short-term investments:
| April 1, 2023 |  | December 31, 2022
| Cost/ Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Cost/ Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (in millions) |  | (in millions)
Asset-backed and mortgage-backed securities | $ | 41 |  |  | $ | — |  |  | $ | (3) |  |  | $ | 38 |  |  | $ | 42 |  |  | $ | — |  |  | $ | (3) |  |  | $ | 39 |
Commercial paper | 967 |  |  | — |  |  | (4) |  |  | 963 |  |  | 669 |  |  | — |  |  | (4) |  |  | 665 |
Money market funds | 2,624 |  |  | — |  |  | — |  |  | 2,624 |  |  | 3,017 |  |  | — |  |  | — |  |  | 3,017 |
Time deposits and certificates of deposits | 65 |  |  | — |  |  | — |  |  | 65 |  |  | 159 |  |  | — |  |  | — |  |  | 159 |
U.S. Treasury and agency securities | 1,122 |  |  | — |  |  | (6) |  |  | 1,116 |  |  | 471 |  |  | — |  |  | (5) |  |  | 466 |
Foreign government securities | 395 |  |  | — |  |  | (1) |  |  | 394 |  |  | 74 |  |  | — |  |  | — |  |  | 74 |
| $ | 5,214 |  |  | $ | — |  |  | $ | (14) |  |  | $ | 5,200 |  |  | $ | 4,432 |  |  | $ | — |  |  | $ | (12) |  |  | $ | 4,420 |
Investments Classified by Contractual Maturity Date | The contractual maturities of investments classified as available-for-sale are as follows:
| April 1, 2023 |  | December 31, 2022
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
| (In millions) |  | (In millions)
Due within 1 year | $ | 2,474 |  |  | $ | 2,464 |  |  | $ | 1,224 |  |  | $ | 1,218 |
Due in 1 year through 5 years | 87 |  |  | 85 |  |  | 159 |  |  | 156 |
Due in 5 years and later | 39 |  |  | 37 |  |  | 41 |  |  | 38 |
| $ | 2,600 |  |  | $ | 2,586 |  |  | $ | 1,424 |  |  | $ | 1,412 |
Financial Instruments Not Recorded at Fair Value | The Company carries its financial instruments at fair value except for its debt. The carrying amounts and estimated fair values of the Company’s debt are as follows:
| April 1, 2023 |  | December 31, 2022
| Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
| (In millions) |  | (In millions)
Long-term debt | $ | 2,467 |  |  | $ | 2,345 |  |  | $ | 2,467 |  |  | $ | 2,281 |

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- Definition This schedule represents the amounts as included on the statement of financial position for the financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) for which related fair value disclosure is being provided. The amounts as included in the statement of financial position may also be referred to as the carrying amount or reported amount. Net carrying amount is not an indication of an asset's fair value, but in certain circumstances the carrying value and fair value may be identical, such as in the case of trade receivables and payables where carrying amount may approximate fair value. Likewise, this schedule applies to items which contain a sub-component that may be measured at fair value for financial statement reporting purposes or which is in its entirety carried at fair value. + References No definition available. + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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