XML 58 R18.htm IDEA: XBRL DOCUMENT
v3.21.1

Fair Value | 3 Months Ended
--- | ---
Mar. 27, 2021
Fair Value Disclosures [Abstract] |
Fair Value [Text Block] |
Note 10 : | Fair Value
Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
|  | Mar 27, 2021 |  | Dec 26, 2020 |  |
|  | Fair Value Measured and Recorded at Reporting Date Using |  |  |  | Fair Value Measured and Recorded at Reporting Date Using |  |  |  |
(In Millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | $ | — |  |  | $ | 297 |  |  | $ | — |  |  | $ | 297 |  |  | $ | — |  |  | $ | 50 |  |  | $ | — |  |  | $ | 50 |  |  |
Financial institution instruments¹ |  | 2,130 |  |  | 849 |  |  | — |  |  | 2,979 |  |  | 2,781 |  |  | 636 |  |  | — |  |  | 3,417 |  |  |
Government debt² |  | — |  |  | 33 |  |  | — |  |  | 33 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Reverse repurchase agreements |  | — |  |  | 1,350 |  |  | — |  |  | 1,350 |  |  | — |  |  | 1,900 |  |  | — |  |  | 1,900 |  |  |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | — |  |  | 851 |  |  | — |  |  | 851 |  |  | — |  |  | 428 |  |  | — |  |  | 428 |  |  |
Financial institution instruments¹ |  | — |  |  | 878 |  |  | — |  |  | 878 |  |  | — |  |  | 1,179 |  |  | — |  |  | 1,179 |  |  |
Government debt² |  | — |  |  | 688 |  |  | — |  |  | 688 |  |  | — |  |  | 685 |  |  | — |  |  | 685 |  |  |
Trading assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | — |  |  | 4,176 |  |  | — |  |  | 4,176 |  |  | — |  |  | 3,815 |  |  | — |  |  | 3,815 |  |  |
Financial institution instruments¹ |  | 110 |  |  | 2,851 |  |  | — |  |  | 2,961 |  |  | 131 |  |  | 2,847 |  |  | — |  |  | 2,978 |  |  |
Government debt² |  | — |  |  | 7,651 |  |  | — |  |  | 7,651 |  |  | — |  |  | 8,945 |  |  | — |  |  | 8,945 |  |  |
Other current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets |  | 33 |  |  | 410 |  |  | — |  |  | 443 |  |  | 48 |  |  | 644 |  |  | — |  |  | 692 |  |  |
Loans receivable³ |  | — |  |  | 214 |  |  | — |  |  | 214 |  |  | — |  |  | 439 |  |  | — |  |  | 439 |  |  |
Marketable equity securities |  | 139 |  |  | 1,384 |  |  | — |  |  | 1,523 |  |  | 136 |  |  | 1,694 |  |  | — |  |  | 1,830 |  |  |
Other long-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | — |  |  | 1,025 |  |  | — |  |  | 1,025 |  |  | — |  | 1,520 |  |  | — |  | 1,520 |  |  |
Financial institution instruments¹ |  | — |  |  | 230 |  |  | — |  |  | 230 |  |  | — |  | 257 |  |  | — |  | 257 |  |  |
Government debt² |  | — |  |  | 154 |  |  | — |  |  | 154 |  |  | — |  | 415 |  |  | — |  | 415 |  |  |
Other long-term assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets |  | — |  |  | 1,004 |  |  | 14 |  |  | 1,018 |  |  | — |  |  | 1,520 |  |  | 30 |  |  | 1,550 |  |  |
Loans receivable³ |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  | 157 |  |  | — |  | 157 |  |  |
Total assets measured and recorded at fair value |  | $ | 2,412 |  |  | $ | 24,045 |  |  | $ | 14 |  |  | $ | 26,471 |  |  | $ | 3,096 |  |  | $ | 27,131 |  |  | $ | 30 |  |  | $ | 30,257 |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other accrued liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | 6 |  |  | $ | 603 |  |  | $ | — |  |  | $ | 609 |  |  | $ | — |  |  | $ | 810 |  |  | $ | — |  |  | $ | 810 |  |  |
Other long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | — |  |  | 9 |  |  | — |  |  | 9 |  |  | — |  |  | 5 |  |  | — |  |  | 5 |  |  |
Total liabilities measured and recorded at fair value |  | $ | 6 |  |  | $ | 612 |  |  | $ | — |  |  | $ | 618 |  |  | $ | — |  |  | $ | 815 |  |  | $ | — |  |  | $ | 815 |  |  |
1 Level 1 investments consist of money market funds. Level 2 investments consist primarily of commercial paper, certificates of deposit, time deposits, and notes and bonds issued by financial institutions. 2 Level 2 investments consist primarily of U.S. agency notes and non-U.S. government debt. 3 The fair value of our loans receivable for which we elected the fair value option did not significantly differ from the contractual principal balance. Assets Measured and Recorded at Fair Value on a Non-Recurring Basis Our non-marketable equity securities, equity method investments, and certain non-financial assets, such as intangible assets and property, plant and equipment, are recorded at fair value only if an impairment or observable price adjustment is recognized in the current period. If an observable price adjustment or impairment is recognized on our non-marketable equity securities during the period, we classify these assets as Level 3. Financial Instruments Not Recorded at Fair Value on a Recurring Basis Financial instruments not recorded at fair value on a recurring basis include non-marketable equity securities and equity method investments that have not been remeasured or impaired in the current period, grants receivable, and issued debt. We classify the fair value of grants receivable as Level 2. The estimated fair value of these financial instruments approximates their carrying value. The aggregate carrying value of grants receivable as of March 27, 2021 was $144 million (the aggregate carrying value of grants receivable as of December 26, 2020 was $139 million). We classify the fair value of issued debt (excluding commercial paper and drafts payable) as Level 2. The fair value of these instruments was $38.5 billion as of March 27, 2021 ($40.9 billion as of December 26, 2020).

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration