Investments (Tables)
|
3 Months Ended |
Apr. 02, 2021 |
|---|
| Investments [Abstracts] |
|
| 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):
|
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|
|
|
|
|
|
Fair Value with Changes Recognized in Income |
Measurement Alternative — No Readily Determinable Fair Value |
| April 2, 2021 |
|
|
|
|
|
| Marketable securities |
$ |
345
|
|
$ |
—
|
|
| Other investments |
755
|
|
51
|
|
| Other assets |
1,441
|
|
—
|
|
| Total equity securities |
$ |
2,541
|
|
$ |
51
|
|
| December 31, 2020 |
|
|
|
|
|
| Marketable securities |
$ |
330 |
|
$ |
— |
|
| Other investments |
762 |
|
50 |
|
| Other assets |
1,282 |
|
— |
|
| Total equity securities |
$ |
2,374 |
|
$ |
50 |
|
|
| 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):
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|
Three Months Ended |
|
April 2,
2021 |
March 27,
2020 |
| Net gains (losses) recognized during the period related to equity securities |
$ |
155
|
|
$ |
(396) |
|
Less: Net gains (losses) recognized during the period related to equity securities sold
during the period |
14
|
|
(16) |
|
Net unrealized gains (losses) recognized during the period related to equity securities
still held at the end of the period |
$ |
141
|
|
$ |
(380) |
|
|
|
|
|
|
|
|
| Schedule of debt securities [Table Text Block] |
Our debt securities consisted of the following (in millions):
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Gross Unrealized |
Estimated Fair Value |
|
Cost |
Gains |
Losses |
| April 2, 2021 |
|
|
|
|
Trading securities |
$ |
37
|
|
$ |
2
|
|
$ |
—
|
|
$ |
39
|
|
Available-for-sale securities |
2,180
|
|
33
|
|
(85) |
|
2,128
|
|
Total debt securities |
$ |
2,217
|
|
$ |
35
|
|
$ |
(85) |
|
$ |
2,167
|
|
| December 31, 2020 |
|
|
|
|
Trading securities |
$ |
36 |
|
$ |
2 |
|
$ |
— |
|
$ |
38 |
|
Available-for-sale securities |
2,227 |
|
51 |
|
(13) |
|
2,265 |
|
Total debt securities |
$ |
2,263 |
|
$ |
53 |
|
$ |
(13) |
|
$ |
2,303 |
|
|
| Fair value of debt securities by balance sheet location [Table Text Block] |
The carrying values of our debt securities were included in the following line items in our condensed consolidated balance sheets (in millions):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 2, 2021 |
December 31, 2020 |
|
Trading Securities |
Available-for-Sale Securities |
Trading Securities |
Available-for-Sale Securities |
Cash and cash equivalents |
$ |
—
|
|
$ |
—
|
|
$ |
— |
|
$ |
— |
|
Marketable securities |
39
|
|
1,850
|
|
38 |
|
1,980 |
|
Other assets |
—
|
|
278
|
|
— |
|
285 |
|
| Total debt securities |
$ |
39
|
|
$ |
2,128
|
|
$ |
38 |
|
$ |
2,265 |
|
|
| Contractual maturity amounts of the investment securities |
The contractual maturities of these available-for-sale debt securities as of April 2, 2021 were as follows (in millions):
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|
Cost |
Estimated
Fair Value |
|
|
|
| Within 1 year |
$ |
684 |
|
$ |
691 |
|
|
|
|
| After 1 year through 5 years |
1,205 |
|
1,143 |
|
|
|
|
| After 5 years through 10 years |
92 |
|
101 |
|
|
|
|
| After 10 years |
199 |
|
193 |
|
|
|
|
| Total |
$ |
2,180 |
|
$ |
2,128 |
|
|
|
|
|
| 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):
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|
|
|
|
|
|
|
|
Three Months Ended |
|
April 2,
2021 |
March 27,
2020 |
| Gross gains |
$ |
1
|
|
$ |
8 |
|
| Gross losses |
(4) |
|
(2) |
|
| Proceeds |
158
|
|
906 |
|
|