Investments (Tables)
|
6 Months Ended |
Jun. 28, 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 |
|
June 28, 2019 |
|
June 29, 2018 |
|
Net gains (losses) recognized during the period related to equity securities |
$ |
(13 |
) |
$ |
38 |
|
Less: Net gains (losses) recognized during the period related to equity securities sold
during the period |
1 |
|
(1 |
) |
|
Net unrealized gains (losses) recognized during the period related to equity securities
still held at the end of the period
|
$ |
(14 |
) |
$ |
39 |
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
June 28, 2019 |
|
June 29, 2018 |
|
Net gains (losses) recognized during the period related to equity securities |
$ |
134 |
|
$ |
(41 |
) |
Less: Net gains (losses) recognized during the period related to equity securities sold
during the period |
13 |
|
4 |
|
|
Net unrealized gains (losses) recognized during the period related to equity securities
still held at the end of the period
|
$ |
121 |
|
$ |
(45 |
) |
|
| 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
|
|
June 28, 2019 |
|
|
Marketable securities |
$ |
308 |
|
$ |
— |
|
Other investments |
811 |
|
83 |
|
Other assets |
969 |
|
— |
|
Total equity securities |
$ |
2,088 |
|
$ |
83 |
|
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):
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Gross Unrealized |
|
Estimated Fair Value |
|
|
Cost |
|
Gains |
|
Losses |
|
|
June 28, 2019 |
|
|
|
|
|
Trading securities |
$ |
43 |
|
$ |
1 |
|
$ |
— |
|
|
$ |
44 |
|
Available-for-sale securities |
3,879 |
|
131 |
|
(5 |
) |
|
4,005 |
|
Total debt securities |
$ |
3,922 |
|
$ |
132 |
|
$ |
(5 |
) |
|
$ |
4,049 |
|
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):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 28, 2019 |
|
December 31, 2018 |
|
Trading Securities |
|
Available-for-Sale Securities |
|
|
Trading Securities |
|
Available-for-Sale Securities |
|
Cash and cash equivalents |
$ |
— |
|
$ |
7 |
|
|
$ |
— |
|
$ |
— |
|
Marketable securities |
44 |
|
3,706 |
|
|
44 |
|
4,691 |
|
Other assets |
— |
|
292 |
|
|
— |
|
302 |
|
Total debt securities |
$ |
44 |
|
$ |
4,005 |
|
|
$ |
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):
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|
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|
|
|
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|
Three Months Ended |
|
Six Months Ended |
|
June 28, 2019 |
|
June 29, 2018 |
|
|
June 28, 2019 |
|
June 29, 2018 |
|
Gross gains |
$ |
23 |
|
$ |
8 |
|
|
$ |
28 |
|
$ |
8 |
|
Gross losses |
(1 |
) |
(8 |
) |
|
(4 |
) |
(13 |
) |
Proceeds |
1,068 |
|
3,236 |
|
|
1,790 |
|
6,323 |
|
|
| Contractual maturity amounts of the investment securities |
The contractual maturities of these available-for-sale debt securities as of June 28, 2019 were as follows (in millions):
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|
|
|
|
|
|
|
|
Cost |
|
Estimated
Fair Value |
|
Within 1 year |
$ |
851 |
|
$ |
850 |
|
After 1 year through 5 years |
2,740 |
|
2,848 |
|
After 5 years through 10 years |
72 |
|
84 |
|
After 10 years |
216 |
|
223 |
|
Total |
$ |
3,879 |
|
$ |
4,005 |
|
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