Investments (Tables)
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9 Months Ended |
Sep. 25, 2020 |
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| Investments [Abstracts] |
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| 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 |
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September 25,
2020 |
September 27,
2019 |
| Net gains (losses) recognized during the period related to equity securities |
$ |
17
|
|
$ |
29 |
|
Less: Net gains (losses) recognized during the period related to equity securities sold
during the period |
—
|
|
— |
|
Net unrealized gains (losses) recognized during the period related to equity securities
still held at the end of the period |
$ |
17
|
|
$ |
29 |
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Nine Months Ended |
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September 25,
2020 |
September 27,
2019 |
| Net gains (losses) recognized during the period related to equity securities |
$ |
(137) |
|
$ |
163 |
|
Less: Net gains (losses) recognized during the period related to equity securities sold
during the period |
(24) |
|
16 |
|
Net unrealized gains (losses) recognized during the period related to equity securities
still held at the end of the period |
$ |
(113) |
|
$ |
147 |
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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 |
| September 25, 2020 |
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| Marketable securities |
$ |
296
|
|
$ |
—
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| Other investments |
662
|
|
50
|
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| Other assets |
1,097
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|
—
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| Total equity securities |
$ |
2,055
|
|
$ |
50
|
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| December 31, 2019 |
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| Marketable securities |
$ |
329 |
|
$ |
— |
|
| Other investments |
772 |
|
82 |
|
| Other assets |
1,118 |
|
— |
|
| Total equity securities |
$ |
2,219 |
|
$ |
82 |
|
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| 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 |
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| September 25, 2020 |
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Trading securities |
$ |
34
|
|
$ |
1
|
|
$ |
—
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|
$ |
35
|
|
Available-for-sale securities |
2,611
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|
63
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|
(16) |
|
2,658
|
|
Total debt securities |
$ |
2,645
|
|
$ |
64
|
|
$ |
(16) |
|
$ |
2,693
|
|
| December 31, 2019 |
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Trading securities |
$ |
46 |
|
$ |
1 |
|
$ |
— |
|
$ |
47 |
|
Available-for-sale securities |
3,172 |
|
113 |
|
(4) |
|
3,281 |
|
Total debt securities |
$ |
3,218 |
|
$ |
114 |
|
$ |
(4) |
|
$ |
3,328 |
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| 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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September 25, 2020 |
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December 31, 2019 |
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Trading Securities |
Available-for-Sale Securities |
|
Trading Securities |
Available-for-Sale Securities |
Cash and cash equivalents |
$ |
—
|
|
$ |
305
|
|
|
$ |
— |
|
$ |
123 |
|
Marketable securities |
35
|
|
2,065
|
|
|
47 |
|
2,852 |
|
Other assets |
—
|
|
288
|
|
|
— |
|
306 |
|
| Total debt securities |
$ |
35
|
|
$ |
2,658
|
|
|
$ |
47 |
|
$ |
3,281 |
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| 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 |
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Nine Months Ended |
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September 25,
2020 |
September 27,
2019 |
|
September 25,
2020 |
September 27,
2019 |
| Gross gains |
$ |
2
|
|
$ |
9 |
|
|
$ |
19
|
|
$ |
37 |
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| Gross losses |
(3) |
|
(1) |
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(11) |
|
(5) |
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| Proceeds |
233
|
|
1,284 |
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|
1,419
|
|
3,074 |
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| Contractual maturity amounts of the investment securities |
The contractual maturities of these available-for-sale debt securities as of September 25, 2020 were as follows (in millions):
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Cost |
Estimated
Fair Value |
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| Within 1 year |
$ |
1,186 |
|
$ |
1,212 |
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| After 1 year through 5 years |
1,140 |
|
1,134 |
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| After 5 years through 10 years |
89 |
|
102 |
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| After 10 years |
196 |
|
210 |
|
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| Total |
$ |
2,611 |
|
$ |
2,658 |
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