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Fair Value | 9 Months Ended
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Sep. 28, 2024
Fair Value Disclosures [Abstract] |
Fair Value |
Note 12 : | Fair Value
Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
|  | Sep 28, 2024 |  | Dec 30, 2023 |  |
|  | 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 |  | $ | — |  |  | $ | 213 |  |  | $ | — |  |  | $ | 213 |  |  | $ | — |  |  | $ | 769 |  |  | $ | — |  |  | $ | 769 |  |  |
Financial institution instruments¹ |  | 3,415 |  |  | 1,197 |  |  | — |  |  | 4,612 |  |  | 2,241 |  |  | 835 |  |  | — |  |  | 3,076 |  |  |
Reverse repurchase agreements |  | — |  |  | 3,295 |  |  | — |  |  | 3,295 |  |  | — |  |  | 2,554 |  |  | — |  |  | 2,554 |  |  |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | — |  |  | 5,777 |  |  | — |  |  | 5,777 |  |  | — |  |  | 6,951 |  |  | — |  |  | 6,951 |  |  |
Financial institution instruments¹ |  | 129 |  |  | 3,301 |  |  | — |  |  | 3,430 |  |  | 33 |  |  | 4,215 |  |  | — |  |  | 4,248 |  |  |
Government debt² |  | 20 |  |  | 6,074 |  |  | — |  |  | 6,094 |  |  | — |  |  | 6,756 |  |  | — |  |  | 6,756 |  |  |
Other current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets |  | 261 |  |  | 653 |  |  | — |  |  | 914 |  |  | 366 |  |  | 809 |  |  | — |  |  | 1,175 |  |  |
Marketable equity securities |  | 980 |  |  | — |  |  | — |  |  | 980 |  |  | 1,194 |  |  | — |  |  | — |  |  | 1,194 |  |  |
Other long-term assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets |  | — |  |  | 5 |  |  | — |  |  | 5 |  |  | — |  |  | 21 |  |  | — |  |  | 21 |  |  |
Total assets measured and recorded at fair value |  | $ | 4,805 |  |  | $ | 20,515 |  |  | $ | — |  |  | $ | 25,320 |  |  | $ | 3,834 |  |  | $ | 22,910 |  |  | $ | — |  |  | $ | 26,744 |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other accrued liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | — |  |  | $ | 457 |  |  | $ | 96 |  |  | $ | 553 |  |  | $ | — |  |  | $ | 541 |  |  | $ | 99 |  |  | $ | 640 |  |  |
Other long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | — |  |  | 212 |  |  | — |  |  | 212 |  |  | — |  |  | 479 |  |  | — |  |  | 479 |  |  |
Total liabilities measured and recorded at fair value |  | $ | — |  |  | $ | 669 |  |  | $ | 96 |  |  | $ | 765 |  |  | $ | — |  |  | $ | 1,020 |  |  | $ | 99 |  |  | $ | 1,119 |  |  |
1 Level 1 investments consist of money market funds. Level 2 investments consist primarily of certificates of deposit, time deposits, commercial paper, notes, and bonds issued by financial institutions. 2 Level 1 investments consist of US Treasury securities. Level 2 investments consist primarily of non-US government debt. 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, goodwill, 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. Similarly, impairments recognized on our goodwill, intangible assets, and property, plant, and equipment are categorized as Level 3 within the fair value hierarchy as we utilize unobservable inputs such as prospective financial information, market segment growth rates, and discount rates in the fair value measurement process. 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, certain other receivables, 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 September 28, 2024 was $1.1 billion (the aggregate carrying value as of December 30, 2023 was $559 million). We classify the fair value of issued debt (excluding any commercial paper) as Level 2. The fair value of our issued debt was $46.0 billion as of September 28, 2024 ($47.6 billion as of December 30, 2023).

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- 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/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
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