Investments (Tables)
|
9 Months Ended |
Sep. 28, 2018 |
Sep. 29, 2017 |
| Investments [Abstracts] |
|
|
| Unrealized Gain (Loss) on Investments |
The calculation of net unrealized gains and losses recognized during the period related to equity securities still held at September 28, 2018 is as follows (in millions):
|
|
|
|
|
|
|
|
|
Three Months Ended |
Nine Months Ended |
|
September 28, 2018 |
September 28, 2018 |
Net gains (losses) recognized during the period related to equity securities |
$ |
62 |
|
$ |
21 |
|
Less: Net gains (losses) recognized during the period related to equity securities sold
during the period |
5 |
|
13 |
|
|
Net unrealized gains (losses) recognized during the period related to equity securities
still held at the end of the period
|
$ |
57 |
|
$ |
8 |
|
|
|
| Carrying value of equity securities by balance sheet location [Table Text Block] |
As of September 28, 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 |
$ |
306 |
|
$ |
— |
|
Other investments |
966 |
|
85 |
|
Other assets |
976 |
|
— |
|
Total equity securities |
$ |
2,248 |
|
$ |
85 |
|
|
|
| Equity securities by security type [Table Text Block] |
|
As of December 31, 2017, our equity securities consisted of the following (in millions):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 and/or maturity of available-for-sale equity securities resulted in the following realized activity (in millions):
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
September 29, 2017 |
|
September 29, 2017 |
Gross gains |
$ |
10 |
|
|
$ |
45 |
|
Gross losses |
(4 |
) |
|
(12 |
) |
Proceeds |
49 |
|
|
189 |
|
|
| Schedule of debt securities [Table Text Block] |
Our debt securities consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Unrealized |
|
Estimated |
|
|
Cost |
|
Gains |
|
Losses |
|
|
Fair Value |
|
September 28, 2018 |
|
|
|
|
|
Trading securities |
$ |
40 |
|
$ |
— |
|
$ |
— |
|
|
$ |
40 |
|
Available-for-sale securities |
5,809 |
|
63 |
|
(63 |
) |
|
5,809 |
|
Total debt securities |
$ |
5,849 |
|
$ |
63 |
|
$ |
(63 |
) |
|
$ |
5,849 |
|
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):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 28, 2018 |
|
December 31, 2017 |
|
Trading Securities |
|
Available-for-Sale Securities |
|
|
Trading Securities |
|
Available-for-Sale Securities |
|
Cash and cash equivalents |
$ |
— |
|
$ |
815 |
|
|
$ |
— |
|
$ |
667 |
|
Marketable securities |
40 |
|
4,709 |
|
|
12 |
|
4,970 |
|
Other assets |
— |
|
285 |
|
|
— |
|
275 |
|
Total debt securities |
$ |
40 |
|
$ |
5,809 |
|
|
$ |
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 |
|
Nine Months Ended |
|
September 28, 2018 |
|
September 29, 2017 |
|
|
September 28, 2018 |
|
September 29, 2017 |
|
Gross gains |
$ |
11 |
|
$ |
1 |
|
|
$ |
19 |
|
$ |
6 |
|
Gross losses |
(8 |
) |
(3 |
) |
|
(21 |
) |
(9 |
) |
Proceeds |
3,421 |
|
4,161 |
|
|
9,744 |
|
10,571 |
|
|
|
| Contractual maturity amounts of the investment securities |
The contractual maturities of these available-for-sale debt securities as of September 28, 2018 were as follows (in millions):
|
|
|
|
|
|
|
|
|
Cost |
|
Estimated
Fair Value |
|
Within 1 year |
$ |
1,542 |
|
$ |
1,537 |
|
After 1 year through 5 years |
3,934 |
|
3,927 |
|
After 5 years through 10 years |
116 |
|
132 |
|
After 10 years |
217 |
|
213 |
|
Total |
$ |
5,809 |
|
$ |
5,809 |
|
|
|