Investments (Tables)
|
6 Months Ended |
Jun. 29, 2018 |
Jun. 30, 2017 |
| Investments [Abstracts] |
|
|
| Unrealized Gain (Loss) on Investments |
The calculation of net unrealized gains and losses for the period that relate to equity securities still held at June 29, 2018 is as follows (in millions):
|
|
|
|
|
|
|
|
|
Three Months Ended |
Six Months Ended |
|
June 29, 2018 |
June 29, 2018 |
Net gains (losses) recognized during the period related to equity securities |
$ |
38 |
|
$ |
(41 |
) |
Less: Net gains (losses) recognized during the period related
to equity securities sold during the period |
(1 |
) |
4 |
|
|
Unrealized gains (losses) recognized during the period related to equity securities still held
at the end of the period
|
$ |
39 |
|
$ |
(45 |
) |
|
|
| Carrying value of equity securities by balance sheet location [Table Text Block] |
As of June 29, 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 |
$ |
341 |
|
$ |
— |
|
Other investments |
924 |
|
91 |
|
Other assets |
1,034 |
|
— |
|
Total equity securities |
$ |
2,299 |
|
$ |
91 |
|
|
|
| Equity securities by security type [Table Text Block] |
|
As of December 31, 2017, equity securities consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
Six Months Ended |
|
June 30, 2017 |
|
June 30, 2017 |
Gross gains |
$ |
13 |
|
|
$ |
35 |
|
Gross losses |
(5 |
) |
|
(8 |
) |
Proceeds |
58 |
|
|
140 |
|
|
| Schedule of debt securities [Table Text Block] |
Our debt securities consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Unrealized |
|
Estimated |
|
|
Cost |
|
Gains |
|
Losses |
|
|
Fair Value |
|
June 29, 2018 |
|
|
|
|
|
Trading securities |
$ |
38 |
|
$ |
— |
|
$ |
— |
|
|
$ |
38 |
|
Available-for-sale securities |
6,258 |
|
78 |
|
(63 |
) |
|
6,273 |
|
Total debt securities |
$ |
6,296 |
|
$ |
78 |
|
$ |
(63 |
) |
|
$ |
6,311 |
|
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):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 29, 2018 |
|
December 31, 2017 |
|
Trading Securities |
|
Available-for-Sale Securities |
|
|
Trading Securities |
|
Available-for-Sale Securities |
|
Cash and cash equivalents |
$ |
— |
|
$ |
829 |
|
|
$ |
— |
|
$ |
667 |
|
Marketable securities |
38 |
|
5,157 |
|
|
12 |
|
4,970 |
|
Other assets |
— |
|
287 |
|
|
— |
|
275 |
|
Total debt securities |
$ |
38 |
|
$ |
6,273 |
|
|
$ |
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 |
|
Six Months Ended |
|
June 29, 2018 |
|
June 30, 2017 |
|
|
June 29, 2018 |
|
June 30, 2017 |
|
Gross gains |
$ |
8 |
|
$ |
1 |
|
|
$ |
8 |
|
$ |
5 |
|
Gross losses |
(8 |
) |
(2 |
) |
|
(13 |
) |
(6 |
) |
Proceeds |
3,236 |
|
3,398 |
|
|
6,323 |
|
6,410 |
|
|
|
| Contractual maturity amounts of the investment securities |
The contractual maturities of these available-for-sale debt securities as of June 29, 2018 were as follows (in millions):
|
|
|
|
|
|
|
|
|
Cost |
|
Estimated
Fair Value |
|
Within 1 year |
$ |
1,348 |
|
$ |
1,345 |
|
After 1 year through 5 years |
4,474 |
|
4,478 |
|
After 5 years through 10 years |
121 |
|
136 |
|
After 10 years |
315 |
|
314 |
|
Total |
$ |
6,258 |
|
$ |
6,273 |
|
|
|