Investments (Tables)
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9 Months Ended |
Oct. 01, 2021 |
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| Investments [Abstract] |
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| 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 |
| October 1, 2021 |
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|
|
|
|
| Marketable securities |
$ |
361
|
|
$ |
—
|
|
| Other investments |
850
|
|
47
|
|
| Other assets |
1,490
|
|
—
|
|
| Total equity securities |
$ |
2,701
|
|
$ |
47
|
|
| December 31, 2020 |
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|
|
|
|
| Marketable securities |
$ |
330 |
|
$ |
— |
|
| Other investments |
762 |
|
50 |
|
| Other assets |
1,282 |
|
— |
|
| Total equity securities |
$ |
2,374 |
|
$ |
50 |
|
|
| Net unrealized gains and losses related to equity securities still held at the end of the period |
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 |
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October 1,
2021 |
September 25,
2020 |
| Net gains (losses) recognized during the period related to equity securities |
$ |
4
|
|
$ |
17 |
|
|
Less: Net gains (losses) recognized during the period related to equity securities sold
during the period
|
5
|
|
— |
|
|
Net unrealized gains (losses) recognized during the period related to equity securities
still held at the end of the period
|
$ |
(1) |
|
$ |
17 |
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Nine Months Ended |
|
October 1,
2021 |
September 25,
2020 |
| Net gains (losses) recognized during the period related to equity securities |
$ |
361
|
|
$ |
(137) |
|
|
Less: Net gains (losses) recognized during the period related to equity securities sold
during the period
|
33
|
|
(24) |
|
|
Net unrealized gains (losses) recognized during the period related to equity securities
still held at the end of the period
|
$ |
328
|
|
$ |
(113) |
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| Schedule of available-for-sale and trading securities reconciliation |
Our debt securities consisted of the following (in millions):
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Gross Unrealized |
Estimated Fair Value |
|
Cost |
Gains |
Losses |
| October 1, 2021 |
|
|
|
|
Trading securities |
$ |
38
|
|
$ |
2
|
|
$ |
—
|
|
$ |
40
|
|
Available-for-sale securities |
1,677
|
|
35
|
|
(123) |
|
1,589
|
|
Total debt securities |
$ |
1,715
|
|
$ |
37
|
|
$ |
(123) |
|
$ |
1,629
|
|
| 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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|
October 1, 2021 |
|
December 31, 2020 |
|
Trading Securities |
Available-for-Sale Securities |
|
Trading Securities |
Available-for-Sale Securities |
|
|
|
|
|
|
Marketable securities |
$ |
40
|
|
$ |
1,323
|
|
|
$ |
38 |
|
$ |
1,980 |
|
Other assets |
—
|
|
266
|
|
|
— |
|
285 |
|
| Total debt securities |
$ |
40
|
|
$ |
1,589
|
|
|
$ |
38 |
|
$ |
2,265 |
|
|
| Contractual maturity amounts of the investment securities |
The contractual maturities of these available-for-sale debt securities as of October 1, 2021 were as follows (in millions):
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Cost |
Estimated
Fair Value |
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|
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| Within 1 year |
$ |
26 |
|
$ |
26 |
|
|
|
|
| After 1 year through 5 years |
1,381 |
|
1,279 |
|
|
|
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| After 5 years through 10 years |
91 |
|
100 |
|
|
|
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| After 10 years |
179 |
|
184 |
|
|
|
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| Total |
$ |
1,677 |
|
$ |
1,589 |
|
|
|
|
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| Schedule of Realized Gain (Loss) |
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 |
|
Nine Months Ended |
|
October 1,
2021 |
September 25,
2020 |
|
October 1,
2021 |
September 25,
2020 |
| Gross gains |
$ |
2
|
|
$ |
2 |
|
|
$ |
4
|
|
$ |
19 |
|
| Gross losses |
—
|
|
(3) |
|
|
(8) |
|
(11) |
|
| Proceeds |
91
|
|
233 |
|
|
1,058
|
|
1,419 |
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