Investments (Tables)
|
3 Months Ended |
Mar. 29, 2019 |
|---|
| 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 the end of the period is as follows (in millions):
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
March 29, 2019 |
March 30, 2018 |
Net gains (losses) recognized during the period related to equity securities |
$ |
147 |
|
$ |
(79 |
) |
Less: Net gains (losses) recognized during the period related to equity securities sold
during the period |
7 |
|
3 |
|
|
Net unrealized gains (losses) recognized during the period related to equity securities
still held at the end of the period
|
$ |
140 |
|
$ |
(82 |
) |
|
| Carrying value of equity securities by balance sheet location [Table Text Block] |
The carrying values of our equity securities were included in the following line items in our condensed consolidated balance sheets (in millions):
|
|
|
|
|
|
|
|
|
Fair Value with Changes Recognized in Income |
|
Measurement Alternative — No Readily Determinable Fair Value
|
|
March 29, 2019 |
|
|
Marketable securities |
$ |
302 |
|
$ |
— |
|
Other investments |
835 |
|
80 |
|
Other assets |
965 |
|
— |
|
Total equity securities |
$ |
2,102 |
|
$ |
80 |
|
December 31, 2018 |
|
|
Marketable securities |
$ |
278 |
|
$ |
— |
|
Other investments |
787 |
|
80 |
|
Other assets |
869 |
|
— |
|
Total equity securities |
$ |
1,934 |
|
$ |
80 |
|
|
| 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 29, 2019 |
|
|
|
|
|
Trading securities |
$ |
42 |
|
$ |
— |
|
$ |
— |
|
|
$ |
42 |
|
Available-for-sale securities |
4,631 |
|
128 |
|
(14 |
) |
|
4,745 |
|
Total debt securities |
$ |
4,673 |
|
$ |
128 |
|
$ |
(14 |
) |
|
$ |
4,787 |
|
December 31, 2018 |
|
|
|
|
|
Trading securities |
$ |
45 |
|
$ |
— |
|
$ |
(1 |
) |
|
$ |
44 |
|
Available-for-sale securities |
4,901 |
|
119 |
|
(27 |
) |
|
4,993 |
|
Total debt securities |
$ |
4,946 |
|
$ |
119 |
|
$ |
(28 |
) |
|
$ |
5,037 |
|
|
| 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 29, 2019 |
|
December 31, 2018 |
|
Trading Securities |
|
Available-for-Sale Securities |
|
|
Trading Securities |
|
Available-for-Sale Securities |
|
Cash and cash equivalents |
$ |
— |
|
$ |
7 |
|
|
$ |
— |
|
$ |
— |
|
Marketable securities |
42 |
|
4,421 |
|
|
44 |
|
4,691 |
|
Other assets |
— |
|
317 |
|
|
— |
|
302 |
|
Total debt securities |
$ |
42 |
|
$ |
4,745 |
|
|
$ |
44 |
|
$ |
4,993 |
|
|
| 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 29, 2019 |
|
March 30, 2018 |
|
Gross gains |
$ |
5 |
|
$ |
— |
|
Gross losses |
(3 |
) |
(5 |
) |
Proceeds |
722 |
|
3,087 |
|
|
| Contractual maturity amounts of the investment securities |
The contractual maturities of these available-for-sale debt securities as of March 29, 2019 were as follows (in millions):
|
|
|
|
|
|
|
|
|
Cost |
|
Estimated
Fair Value |
|
Within 1 year |
$ |
925 |
|
$ |
921 |
|
After 1 year through 5 years |
3,383 |
|
3,474 |
|
After 5 years through 10 years |
101 |
|
121 |
|
After 10 years |
222 |
|
229 |
|
Total |
$ |
4,631 |
|
$ |
4,745 |
|
|