Investments (Tables)
|
3 Months Ended |
Mar. 30, 2018 |
Mar. 31, 2017 |
| Investments [Abstracts] |
|
|
| Unrealized Gain (Loss) on Investments |
The calculation of net unrealized gains and losses for the period that relate to equity securities still held at March 30, 2018 is as follows (in millions):
|
|
|
|
|
|
Three Months Ended |
|
March 30, 2018 |
Net gains (losses) recognized during the period related to equity securities |
$ |
(79 |
) |
Less: Net gains (losses) recognized during the period related to equity securities sold during the period |
3 |
|
Unrealized gains (losses) recognized during the period related to equity securities still held at the
end of the period |
$ |
(82 |
) |
|
|
| Carrying value of equity securities by balance sheet location [Table Text Block] |
As of March 30, 2018, the carrying values of our equity securities were included in the following line items in our condensed consolidated balance sheet (in millions):
|
|
|
|
|
|
|
|
|
Fair Value with Changes Recognized in Income |
|
Measurement Alternative — No Readily Determinable Fair Value
|
|
Marketable securities |
$ |
335 |
|
$ |
— |
|
Other investments |
935 |
|
104 |
|
Other assets |
1,019 |
|
— |
|
Total equity securities |
$ |
2,289 |
|
$ |
104 |
|
|
|
| Equity securities by security type [Table Text Block] |
|
As of December 31, 2017, equity securities consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Unrealized |
|
Estimated |
|
|
Cost |
|
Gains |
|
Losses |
|
|
Fair Value |
|
Trading securities |
$ |
324 |
|
$ |
75 |
|
$ |
(4 |
) |
|
$ |
395 |
|
Available-for-sale securities |
1,276 |
|
685 |
|
(66 |
) |
|
1,895 |
|
Total equity securities |
$ |
1,600 |
|
$ |
760 |
|
$ |
(70 |
) |
|
$ |
2,290 |
|
|
| Fair value of equity securities by balance sheet location [Table Text Block] |
|
As of December 31, 2017, the fair values of our equity securities were included in the following line items in our condensed consolidated balance sheet (in millions):
|
|
|
|
|
|
|
|
|
Trading Securities |
|
Available-for-Sale Securities |
|
Marketable securities |
$ |
283 |
|
$ |
52 |
|
Other investments |
— |
|
953 |
|
Other assets |
112 |
|
890 |
|
Total equity securities |
$ |
395 |
|
$ |
1,895 |
|
|
| Schedule of Realized Gain (Loss) [Table Text Block] |
|
The sale of available-for-sale equity securities during the three months ended March 31, 2017 resulted in the following realized activity (in millions):
|
|
|
|
|
Gross gains |
$ |
22 |
|
Gross losses |
(3 |
) |
Proceeds |
82 |
|
|
| Schedule of debt securities [Table Text Block] |
Our debt securities consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Unrealized |
|
Estimated |
|
|
Cost |
|
Gains |
|
Losses |
|
|
Fair Value |
|
March 30, 2018 |
|
|
|
|
|
Trading securities |
$ |
37 |
|
$ |
— |
|
$ |
— |
|
|
$ |
37 |
|
Available-for-sale securities |
5,950 |
|
177 |
|
(50 |
) |
|
6,077 |
|
Total debt securities |
$ |
5,987 |
|
$ |
177 |
|
$ |
(50 |
) |
|
$ |
6,114 |
|
December 31, 2017 |
|
|
|
|
|
Trading securities |
$ |
12 |
|
$ |
— |
|
$ |
— |
|
|
$ |
12 |
|
Available-for-sale securities |
5,782 |
|
157 |
|
(27 |
) |
|
5,912 |
|
Total debt securities |
$ |
5,794 |
|
$ |
157 |
|
$ |
(27 |
) |
|
$ |
5,924 |
|
|
|
| Fair value of debt securities by balance sheet location [Table Text Block] |
The fair values of our debt securities were included in the following line items in our condensed consolidated balance sheets (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 30, 2018 |
|
December 31, 2017 |
|
Trading Securities |
|
Available-for-Sale Securities |
|
|
Trading Securities |
|
Available-for-Sale Securities |
|
Cash and cash equivalents |
$ |
— |
|
$ |
612 |
|
|
$ |
— |
|
$ |
667 |
|
Marketable securities |
37 |
|
5,192 |
|
|
12 |
|
4,970 |
|
Other assets |
— |
|
273 |
|
|
— |
|
275 |
|
Total debt securities |
$ |
37 |
|
$ |
6,077 |
|
|
$ |
12 |
|
$ |
5,912 |
|
|
|
| Realized Gain (Loss) on Investments [Table Text Block] |
The sale and/or maturity of available-for-sale debt securities resulted in the following realized activity (in millions):
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
March 30, 2018 |
|
March 31, 2017 |
|
Gross gains |
$ |
— |
|
$ |
4 |
|
Gross losses |
(5 |
) |
(4 |
) |
Proceeds |
3,087 |
|
3,012 |
|
|
|
| Contractual maturity amounts of the investment securities |
The contractual maturities of these available-for-sale debt securities as of March 30, 2018 were as follows (in millions):
|
|
|
|
|
|
|
|
|
Cost |
|
Estimated
Fair Value |
|
Within 1 year |
$ |
1,171 |
|
$ |
1,214 |
|
After 1 year through 5 years |
4,366 |
|
4,443 |
|
After 5 years through 10 years |
102 |
|
113 |
|
After 10 years |
311 |
|
307 |
|
Total |
$ |
5,950 |
|
$ |
6,077 |
|
|
|