XML 74 R32.htm IDEA: XBRL DOCUMENT
v3.24.3

Derivative Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 28, 2024
Derivative [Line Items] |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | Total gross notional amounts for outstanding derivatives (recorded at fair value) at the end of each period were as follows:
(In Millions) |  | Sep 28, 2024 |  | Dec 30, 2023 |  |
Foreign currency contracts |  | $ | 28,674 |  |  | $ | 30,064 |  |  |
Interest rate contracts |  | 18,105 |  |  | 18,363 |  |  |
Other |  | 2,539 |  |  | 2,103 |  |  |
Total |  | $ | 49,318 |  |  | $ | 50,530 |  |  |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Fair Value of Derivative Instruments in the Consolidated Condensed Balance Sheets
|  | Sep 28, 2024 |  | Dec 30, 2023
(In Millions) |  | Assets 1 |  | Liabilities 2 |  | Assets 1 |  | Liabilities 2
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign currency contracts 3 |  | $ | 290 |  |  | $ | 54 |  |  | $ | 255 |  |  | $ | 142 |
Interest rate contracts |  | — |  |  | 353 |  |  | — |  |  | 578 |
Total derivatives designated as hedging instruments |  | $ | 290 |  |  | $ | 407 |  |  | $ | 255 |  |  | $ | 720 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign currency contracts 3 |  | $ | 224 |  |  | $ | 252 |  |  | $ | 314 |  |  | $ | 363 |
Interest rate contracts |  | 144 |  |  | 106 |  |  | 261 |  |  | 36 |
Equity contracts |  | 261 |  |  | — |  |  | 366 |  |  | — |
Total derivatives not designated as hedging instruments |  | $ | 629 |  |  | $ | 358 |  |  | $ | 941 |  |  | $ | 399 |
Total derivatives |  | $ | 919 |  |  | $ | 765 |  |  | $ | 1,196 |  |  | $ | 1,119 |
1 Derivative assets are recorded as other assets, current and long-term. 2 Derivative liabilities are recorded as other liabilities, current and long-term. 3 A substantial majority of these instruments mature within 12 months. The amounts recorded on the Consolidated Condensed Balance Sheets related to cumulative basis adjustments for fair value hedges for each period were as follows:
Line Item in the Consolidated Condensed Balance Sheets in Which the Hedged Item is Included |  | Carrying Amount of the Hedged Item Assets/(Liabilities) |  | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount Assets/(Liabilities) |
(In Millions) |  | Sep 28, 2024 |  | Dec 30, 2023 |  | Sep 28, 2024 |  | Dec 30, 2023 |
Long-term debt |  | $ | (11,644) |  |  | $ | (11,419) |  |  | $ | 353 |  |  | $ | 578 |  |
Offsetting Assets [Table Text Block] | Agreements subject to master netting arrangements with various counterparties, and cash and non-cash collateral posted under such agreements at the end of each period were as follows:
|  | Sep 28, 2024 |  |  |  |
|  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet |  |  |  |  |  |
(In Millions) |  | Gross Amounts Recognized |  | Gross Amounts Offset in the Balance Sheet |  | Net Amounts Presented in the Balance Sheet |  | Financial Instruments |  | Cash and Non-Cash Collateral Received or Pledged |  | Net Amount |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets subject to master netting arrangements |  | $ | 767 |  |  | $ | — |  |  | $ | 767 |  |  | $ | (319) |  |  | $ | (448) |  |  | $ | — |  |  |  |  |
Reverse repurchase agreements |  | 3,295 |  |  | — |  |  | 3,295 |  |  | — |  |  | (3,295) |  |  | — |  |  |  |  |
Total assets |  | $ | 4,062 |  |  | $ | — |  |  | $ | 4,062 |  |  | $ | (319) |  |  | $ | (3,743) |  |  | $ | — |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities subject to master netting arrangements |  | $ | 737 |  |  | $ | — |  |  | $ | 737 |  |  | $ | (319) |  |  | $ | (331) |  |  | $ | 87 |  |  |  |  |
Total liabilities |  | $ | 737 |  |  | $ | — |  |  | $ | 737 |  |  | $ | (319) |  |  | $ | (331) |  |  | $ | 87 |  |  |  |  |
|  | Dec 30, 2023
|  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet |  |
(In Millions) |  | Gross Amounts Recognized |  | Gross Amounts Offset in the Balance Sheet |  | Net Amounts Presented in the Balance Sheet |  | Financial Instruments |  | Cash and Non-Cash Collateral Received or Pledged |  | Net Amount
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets subject to master netting arrangements |  | $ | 1,047 |  |  | $ | — |  |  | $ | 1,047 |  |  | $ | (617) |  |  | $ | (430) |  |  | $ | — |
Reverse repurchase agreements |  | 2,554 |  |  | — |  |  | 2,554 |  |  | — |  |  | (2,554) |  |  | — |
Total assets |  | $ | 3,601 |  |  | $ | — |  |  | $ | 3,601 |  |  | $ | (617) |  |  | $ | (2,984) |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities subject to master netting arrangements |  | $ | 1,111 |  |  | $ | — |  |  | $ | 1,111 |  |  | $ | (617) |  |  | $ | (399) |  |  | $ | 95 |
Total liabilities |  | $ | 1,111 |  |  | $ | — |  |  | $ | 1,111 |  |  | $ | (617) |  |  | $ | (399) |  |  | $ | 95 |
Offsetting Liabilities [Table Text Block] | Agreements subject to master netting arrangements with various counterparties, and cash and non-cash collateral posted under such agreements at the end of each period were as follows:
|  | Sep 28, 2024 |  |  |  |
|  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet |  |  |  |  |  |
(In Millions) |  | Gross Amounts Recognized |  | Gross Amounts Offset in the Balance Sheet |  | Net Amounts Presented in the Balance Sheet |  | Financial Instruments |  | Cash and Non-Cash Collateral Received or Pledged |  | Net Amount |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets subject to master netting arrangements |  | $ | 767 |  |  | $ | — |  |  | $ | 767 |  |  | $ | (319) |  |  | $ | (448) |  |  | $ | — |  |  |  |  |
Reverse repurchase agreements |  | 3,295 |  |  | — |  |  | 3,295 |  |  | — |  |  | (3,295) |  |  | — |  |  |  |  |
Total assets |  | $ | 4,062 |  |  | $ | — |  |  | $ | 4,062 |  |  | $ | (319) |  |  | $ | (3,743) |  |  | $ | — |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities subject to master netting arrangements |  | $ | 737 |  |  | $ | — |  |  | $ | 737 |  |  | $ | (319) |  |  | $ | (331) |  |  | $ | 87 |  |  |  |  |
Total liabilities |  | $ | 737 |  |  | $ | — |  |  | $ | 737 |  |  | $ | (319) |  |  | $ | (331) |  |  | $ | 87 |  |  |  |  |
|  | Dec 30, 2023
|  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet |  |
(In Millions) |  | Gross Amounts Recognized |  | Gross Amounts Offset in the Balance Sheet |  | Net Amounts Presented in the Balance Sheet |  | Financial Instruments |  | Cash and Non-Cash Collateral Received or Pledged |  | Net Amount
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets subject to master netting arrangements |  | $ | 1,047 |  |  | $ | — |  |  | $ | 1,047 |  |  | $ | (617) |  |  | $ | (430) |  |  | $ | — |
Reverse repurchase agreements |  | 2,554 |  |  | — |  |  | 2,554 |  |  | — |  |  | (2,554) |  |  | — |
Total assets |  | $ | 3,601 |  |  | $ | — |  |  | $ | 3,601 |  |  | $ | (617) |  |  | $ | (2,984) |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities subject to master netting arrangements |  | $ | 1,111 |  |  | $ | — |  |  | $ | 1,111 |  |  | $ | (617) |  |  | $ | (399) |  |  | $ | 95 |
Total liabilities |  | $ | 1,111 |  |  | $ | — |  |  | $ | 1,111 |  |  | $ | (617) |  |  | $ | (399) |  |  | $ | 95 |
Not Designated as Hedging Instrument |
Derivative [Line Items] |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The effects of derivative instruments not designated as hedging instruments on the Consolidated Condensed Statements of Income for each period were as follows:
|  |  |  | Three Months Ended |  | Nine Months Ended
(In Millions) |  | Location of Gains (Losses) Recognized in Income on Derivatives |  | Sep 28, 2024 |  | Sep 30, 2023 |  | Sep 28, 2024 |  | Sep 30, 2023
Foreign currency contracts |  | Interest and other, net |  | $ | (344) |  |  | $ | 255 |  |  | $ | 192 |  |  | $ | 467 |
Interest rate contracts |  | Interest and other, net |  | (127) |  |  | 85 |  |  | 24 |  |  | 175 |
Other |  | Various |  | 97 |  |  | (112) |  |  | 290 |  |  | 103 |
Total |  |  |  | $ | (374) |  |  | $ | 228 |  |  | $ | 506 |  |  | $ | 745 |
Interest and other, net [Member] | Fair Value Hedging |
Derivative [Line Items] |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The effects of derivative instruments designated as fair value hedges, recognized in interest and other, net for each period were as follows:
|  | Gains (Losses) on Derivatives Recognized in Consolidated Condensed Statements of Income
|  | Three Months Ended |  | Nine Months Ended
(In Millions) |  | Sep 28, 2024 |  | Sep 30, 2023 |  | Sep 28, 2024 |  | Sep 30, 2023
Interest rate contracts |  | $ | 345 |  |  | $ | (168) |  |  | $ | 225 |  |  | $ | (189) |
Hedged items |  | (345) |  |  | 168 |  |  | (225) |  |  | 189 |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5 + Details
Name: | us-gaap_DerivativeLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-4 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-3 + Details
Name: | us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-4 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-3 + Details
Name: | us-gaap_OffsettingLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementLocationAxis=us-gaap_OtherNonoperatingIncomeExpenseMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_FairValueHedgingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |