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Financial Instruments (Tables) | 3 Months Ended
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Mar. 25, 2017
Derivative [Line Items] |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | The notional amounts of our financial instruments used to hedge the above risks as of March 25, 2017 and December 31, 2016 are as follows:
| Notional Amounts(a)
| 3/25/2017 |  |  | 12/31/2016 |
Foreign exchange | $ | 1.6 |  |  | $ | 1.6 |
Interest rate | $ | 11.2 |  |  | $ | 11.2 |
Commodity | $ | 0.9 |  |  | $ | 0.8 |
Net investment | $ | 0.8 |  |  | $ | 0.8 |
(a) | In billions.
Fair Values of Financial Assets and Liabilities | Fair Value Measurements The fair values of our financial assets and liabilities as of March 25, 2017 and December 31, 2016 are categorized as follows:
| 3/25/2017 |  | 12/31/2016
| Assets(a) |  | Liabilities(a) |  | Assets(a) |  | Liabilities(a)
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |
Equity securities (b) | $ | 93 |  |  | $ | — |  |  | $ | 82 |  |  | $ | — |
Debt securities (c) | 11,964 |  |  | — |  |  | 11,369 |  |  | — |
| $ | 12,057 |  |  | $ | — |  |  | $ | 11,451 |  |  | $ | — |
Short-term investments (d) | $ | 202 |  |  | $ | — |  |  | $ | 193 |  |  | $ | — |
Prepaid forward contracts (e) | $ | 27 |  |  | $ | — |  |  | $ | 25 |  |  | $ | — |
Deferred compensation (f) | $ | — |  |  | $ | 483 |  |  | $ | — |  |  | $ | 472 |
Derivatives designated as fair value hedging instruments: |  |  |  |  |  |  |
Interest rate (g) | $ | 54 |  |  | $ | 81 |  |  | $ | 66 |  |  | $ | 71 |
Derivatives designated as cash flow hedging instruments: |  |  |  |  |  |  |
Foreign exchange (h) | $ | 30 |  |  | $ | 16 |  |  | $ | 51 |  |  | $ | 8 |
Interest rate (h) | — |  |  | 389 |  |  | — |  |  | 408 |
Commodity (i) | 1 |  |  | 1 |  |  | 2 |  |  | 1 |
| $ | 31 |  |  | $ | 406 |  |  | $ | 53 |  |  | $ | 417 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign exchange (h) | $ | — |  |  | $ | 9 |  |  | $ | 2 |  |  | $ | 15 |
Commodity (i) | 54 |  |  | 32 |  |  | 61 |  |  | 26 |
| $ | 54 |  |  | $ | 41 |  |  | $ | 63 |  |  | $ | 41 |
Total derivatives at fair value (j) | $ | 139 |  |  | $ | 528 |  |  | $ | 182 |  |  | $ | 529 |
Total | $ | 12,425 |  |  | $ | 1,011 |  |  | $ | 11,851 |  |  | $ | 1,001 |
(a) | Unless otherwise noted, financial assets are classified on our balance sheet within prepaid expenses and other current assets and other assets. Financial liabilities are classified on our 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. The pre-tax unrealized gains on our investments in marketable equity securities were $83 million and $72 million as of March 25, 2017 and December 31, 2016, respectively.
(c) | Based on quoted broker prices or other significant inputs derived from or corroborated by observable market data. As of March 25, 2017, $5.7 billion and $6.3 billion of debt securities were classified as cash equivalents and short-term investments, respectively. As of December 31, 2016, $4.6 billion and $6.8 billion of debt securities were classified as cash equivalents and short-term investments, respectively. Unrealized gains and losses on our investments in debt securities as of March 25, 2017 and December 31, 2016 were not material. All of our 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.
(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 balance sheet. Amounts subject to enforceable master netting arrangements or similar agreements which are not offset on the balance sheet as of March 25, 2017 and December 31, 2016 were not material. Collateral received against any of our asset positions was not material.
The carrying amounts of our cash equivalents and short-term investments approximate fair value due to their short-term maturity. The fair value of our debt obligations as of March 25, 2017 and December 31, 2016 was $40 billion and $38 billion, respectively, based upon prices of similar instruments in the marketplace, which are considered Level 2 inputs.
Effective Portion Of Pre-Tax (Gains)/Losses On Derivative Instruments | Losses/(gains) on our hedging instruments are categorized as follows:
| 12 Weeks Ended
| Fair Value/Non- designated Hedges |  | Cash Flow and Net Investment 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)
| 3/25/2017 |  |  | 3/19/2016 |  |  | 3/25/2017 |  |  | 3/19/2016 |  |  | 3/25/2017 |  |  | 3/19/2016 |
Foreign exchange | $ | (5 | ) |  | $ | 33 |  |  | $ | 20 |  |  | $ | 16 |  |  | $ | (5 | ) |  | $ | (21 | )
Interest rate | 22 |  |  | (69 | ) |  | (19 | ) |  | (16 | ) |  | (30 | ) |  | (3 | )
Commodity | 3 |  |  | 4 |  |  | 2 |  |  | — |  |  | 2 |  |  | 3 |
Net investment | — |  |  | — |  |  | 18 |  |  | — |  |  | — |  |  | — |
Total | $ | 20 |  |  | $ | (32 | ) |  | $ | 21 |  |  | $ | — |  |  | $ | (33 | ) |  | $ | (21 | )
(a) | Foreign exchange derivative losses/gains are primarily included in selling, general and administrative expenses. Interest rate derivative losses/gains are primarily from fair value hedges and are included in interest expense. These losses/gains are substantially offset by decreases/increases in the value of the underlying debt, which are also included in interest expense. Commodity derivative losses/gains are included in either cost of sales or selling, general and administrative expenses, depending on the underlying commodity.
(b) | Foreign exchange derivative losses/gains are included in cost of sales. Interest rate derivative losses/gains are included in interest expense. Commodity derivative losses/gains are included in either cost of sales or selling, general and administrative expenses, depending on the underlying commodity.
Based on current market conditions, we expect to reclassify net losses of $4 million related to our cash flow hedges from accumulated other comprehensive loss into net income during the next 12 months. Tingyi-Asahi Beverages Holding Co. Ltd. During the first quarter of 2016, we concluded that the decline in estimated fair value of our 5% indirect equity interest in TAB was other than temporary based on significant negative economic trends in China and changes in assumptions associated with TAB’s future financial performance arising from the disclosure by TAB’s parent company, Tingyi, regarding the operating results of its beverage business. As a result, we recorded a pre- and after-tax impairment charge of $373 million ($0.26 per share) in the first quarter of 2016 in the AMENA segment. This charge was recorded in selling, general and administrative expenses on our income statement and reduced the value of our 5% indirect equity interest in TAB to its estimated fair value. The estimated fair value was derived using both an income and market approach, and is considered a non-recurring Level 3 measurement within the fair value hierarchy. The carrying value of the investment in TAB was $166 million as of March 25, 2017. We continue to monitor the impact of economic and other developments on the remaining value of our investment in TAB. See further unaudited information in “Items Affecting Comparability” in Management’s Discussion and Analysis of Financial Condition and Results of Operations.

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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=64837297&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=64837297&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=66048111&loc=d3e19190-110258 + Details
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