Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.0.6
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 30, 2012
Fair Value Measurements [Abstract]  
Assets and liabilities measured at fair value on a recurring basis
The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of March 30, 2012 (in millions):
 
Level 1

Level 2

Level 3

 
Netting
Adjustment1

Fair Value
Measurements

Assets
 
 
 
 
 
 
Trading securities
$
92

$
131

$
4

 
$
—

$
227

Available-for-sale securities
1,333

2,682

116

2 
—

4,131

    Derivatives3
24

566

—

 
(75
)
515

Total assets
$
1,449

$
3,379

$
120

 
$
(75
)
$
4,873

Liabilities
 
 
 
 
 
 
    Derivatives3
$
6

$
118

$
—

 
$
(94
)
$
30

Total liabilities
$
6

$
118

$
—

 
$
(94
)
$
30

1 Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and also cash collateral held or placed with the same counterparties. Refer to Note 5.
2 Primarily related to long-term debt securities that mature in 2018.
3 Refer to Note 5 for additional information related to the composition of our derivative portfolio.
The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of December 31, 2011 (in millions):
 
Level 1

Level 2

Level 3

 
Netting
Adjustment1

Fair Value
Measurements

Assets
 
 
 
 
 
 
Trading securities
$
166

$
41

$
4

 
$
—

$
211

Available-for-sale securities
1,071

214

116

2 
—

1,401

    Derivatives3
39

467

—

 
(117
)
389

Total assets
$
1,276

$
722

$
120

 
$
(117
)
$
2,001

Liabilities
 
 
 
 
 
 
    Derivatives3
$
5

$
201

$
—

 
$
(121
)
$
85

Total liabilities
$
5

$
201

$
—

 
$
(121
)
$
85

1 Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and also cash collateral held or placed with the same counterparties. Refer to Note 5.
2 Primarily related to long-term debt securities that mature in 2018.
3 Refer to Note 5 for additional information related to the composition of our derivative portfolio.