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Financial Instruments (Tables) | 8 Months Ended
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Sep. 05, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Values of Financial Assets and Liabilities | Fair Value Measurements The fair values of our financial assets and liabilities as of September 5, 2015 and December 27, 2014 are categorized as follows:
| 9/5/15 |  | 12/27/14
| Assets (a) |  | Liabilities (a) |  | Assets (a) |  | Liabilities (a)
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Equity securities (b) | $ | 122 |  |  | $ | — |  |  | $ | 124 |  |  | $ | — |
Debt securities (c) | 5,927 |  |  | — |  |  | 3,167 |  |  | — |
| $ | 6,049 |  |  | $ | — |  |  | $ | 3,291 |  |  | $ | — |
Short-term investments (d) | $ | 188 |  |  | $ | — |  |  | $ | 197 |  |  | $ | — |
Prepaid forward contracts (e) | $ | 24 |  |  | $ | — |  |  | $ | 26 |  |  | $ | — |
Deferred compensation (f) | $ | — |  |  | $ | 466 |  |  | $ | — |  |  | $ | 504 |
Derivatives designated as fair value hedging instruments: |  |  |  |  |  |  |
Interest rate (g) | $ | 165 |  |  | $ | — |  |  | $ | 140 |  |  | $ | — |
Derivatives designated as cash flow hedging instruments: |  |  |  |  |  |  |
Foreign exchange (h) | $ | 85 |  |  | $ | 15 |  |  | $ | 76 |  |  | $ | 12 |
Interest rate (g) | — |  |  | 280 |  |  | 1 |  |  | 117 |
Commodity (i) | — |  |  | 7 |  |  | 3 |  |  | 10 |
| $ | 85 |  |  | $ | 302 |  |  | $ | 80 |  |  | $ | 139 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign exchange (h) | $ | 8 |  |  | $ | 1 |  |  | $ | 12 |  |  | $ | 13 |
Interest rate (g) | 55 |  |  | 68 |  |  | 57 |  |  | 75 |
Commodity (i) | 12 |  |  | 143 |  |  | 18 |  |  | 166 |
| $ | 75 |  |  | $ | 212 |  |  | $ | 87 |  |  | $ | 254 |
Total derivatives at fair value (j) | $ | 325 |  |  | $ | 514 |  |  | $ | 307 |  |  | $ | 393 |
Total | $ | 6,586 |  |  | $ | 980 |  |  | $ | 3,821 |  |  | $ | 897 |
(a) | Unless otherwise noted, financial assets are classified on our Condensed Consolidated Balance Sheet within prepaid expenses and other current assets and other assets. Financial liabilities are classified on our Condensed Consolidated Balance Sheet within accounts payable and other current liabilities and other liabilities. Unless specifically indicated, all financial assets and liabilities are categorized as Level 2 assets or liabilities.
(b) | Based on the price of common stock. Categorized as a Level 1 asset. These equity securities are classified as investments in noncontrolled affiliates.
(c) | Based on quoted broker prices or other significant inputs derived from or corroborated by observable market data. As of September 5, 2015, $4.1 billion and $1.8 billion of debt securities were classified as cash equivalents and short-term investments, respectively. As of December 27, 2014, $0.8 billion and $2.4 billion of debt securities were classified as cash equivalents and short-term investments, respectively. All of the Company’s available-for-sale debt securities have maturities of one year or less.
(d) | Based on the price of index funds. Categorized as a Level 1 asset. These investments are classified as short-term investments and are used to manage a portion of market risk arising from our deferred compensation liability.
(e) | Based primarily on the price of our common stock.
(f) | Based on the fair value of investments corresponding to employees’ investment elections.
(g) | Based on LIBOR forward rates. As of September 5, 2015 and December 27, 2014, amounts related to non-designated instruments are presented as a net liability on our Condensed Consolidated Balance Sheet.
(h) | Based on recently reported market transactions of spot and forward rates.
(i) | Based on recently reported market transactions, primarily swap arrangements.
(j) | Unless otherwise noted, derivative assets and liabilities are presented on a gross basis on our Condensed Consolidated Balance Sheet. Amounts subject to enforceable master netting arrangements or similar agreements which are not offset on the Condensed Consolidated Balance Sheet as of September 5, 2015 and December 27, 2014 were immaterial. Collateral received against any of our asset positions was immaterial.
The carrying amounts of our cash and cash equivalents and short-term investments approximate fair value due to their short-term maturity. The fair value of our debt obligations as of September 5, 2015 and December 27, 2014 was $33 billion and $31 billion, respectively, based upon prices of similar instruments in the marketplace.
Effective Portion Of Pre-Tax (Gains)/Losses On Derivative Instruments | Pre-tax losses/(gains) on our derivative instruments are categorized as follows:
| 12 Weeks Ended
| Fair Value/Non- designated Hedges |  | Cash Flow Hedges
| Losses/(Gains) Recognized in Income Statement (a) |  | Losses/(Gains) Recognized in Accumulated Other Comprehensive Loss |  | Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement (b)
| 9/5/2015 |  |  | 9/6/2014 |  |  | 9/5/2015 |  |  | 9/6/2014 |  |  | 9/5/2015 |  |  | 9/6/2014 |
Foreign exchange | $ | (28 | ) |  | $ | 2 |  |  | $ | (52 | ) |  | $ | (6 | ) |  | $ | (17 | ) |  | $ | 5 |
Interest rate | (37 | ) |  | 10 |  |  | 35 |  |  | 39 |  |  | 21 |  |  | 98 |
Commodity | 87 |  |  | 45 |  |  | 4 |  |  | 9 |  |  | 2 |  |  | 6 |
Total | $ | 22 |  |  | $ | 57 |  |  | $ | (13 | ) |  | $ | 42 |  |  | $ | 6 |  |  | $ | 109 |
| 36 Weeks Ended
| Fair Value/Non- designated Hedges |  | Cash Flow Hedges
| Losses/(Gains) Recognized in Income Statement (a) |  | Losses/(Gains) Recognized in Accumulated Other Comprehensive Loss |  | Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement (b)
| 9/5/2015 |  |  | 9/6/2014 |  |  | 9/5/2015 |  |  | 9/6/2014 |  |  | 9/5/2015 |  |  | 9/6/2014 |
Foreign exchange | $ | (12 | ) |  | $ | 1 |  |  | $ | (78 | ) |  | $ | 6 |  |  | $ | (61 | ) |  | $ | (6 | )
Interest rate | (30 | ) |  | 6 |  |  | 164 |  |  | 44 |  |  | 133 |  |  | 112 |
Commodity | 154 |  |  | 34 |  |  | 8 |  |  | 17 |  |  | 16 |  |  | 24 |
Total | $ | 112 |  |  | $ | 41 |  |  | $ | 94 |  |  | $ | 67 |  |  | $ | 88 |  |  | $ | 130 |
(a) | Foreign exchange derivative gains/losses are primarily included in selling, general and administrative expenses. Interest rate derivative gains/losses are primarily from fair value hedges and are included in interest expense. These gains/losses are substantially offset by increases/decreases in the value of the underlying debt, which are also included in interest expense. Commodity derivative gains/losses are included in either cost of sales or selling, general and administrative expenses, depending on the underlying commodity.
(b) | Foreign exchange derivative gains/losses are primarily included in cost of sales. Interest rate derivative gains/losses are included in interest expense. Commodity derivative gains/losses are included in either cost of sales or selling, general and administrative expenses, depending on the underlying commodity.
During the next 12 months, we expect to reclassify net gains of $38 million related to our cash flow hedges from accumulated other comprehensive loss into net income.

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
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