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): | | | | | | | | | | Three Months Ended | | | 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 | | | | | | | |
| | | | | | | | | | Nine Months Ended | | | 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): | | | | | | | | | | Fair Value with Changes Recognized in Income | Measurement Alternative — No Readily Determinable Fair Value | | September 25, 2020 | | | | | | | Marketable securities | $ | 296 | | $ | — | | | Other investments | 662 | | 50 | | | Other assets | 1,097 | | — | | | Total equity securities | $ | 2,055 | | $ | 50 | | | December 31, 2019 | | | | | | | 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): | | | | | | | | | | | | | | | | | Gross Unrealized | | Estimated Fair Value | | Cost | Gains | Losses | | | September 25, 2020 | | | | | Trading securities | $ | 34 | | $ | 1 | | $ | — | | $ | 35 | | Available-for-sale securities | 2,611 | | 63 | | (16) | | 2,658 | | Total debt securities | $ | 2,645 | | $ | 64 | | $ | (16) | | $ | 2,693 | | | December 31, 2019 | | | | | 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): | | | | | | | | | | | | | | | | | | | September 25, 2020 | | | December 31, 2019 | | | 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): | | | | | | | | | | | | | | | | | | | Three Months Ended | | | Nine Months Ended | | | September 25,
2020 | September 27,
2019 | | September 25,
2020 | September 27,
2019 | | Gross gains | $ | 2 | | $ | 9 | | | $ | 19 | | $ | 37 | | | Gross losses | (3) | | (1) | | | (11) | | (5) | | | Proceeds | 233 | | 1,284 | | | 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): | | | | | | | | | | | | | Cost | Estimated
Fair Value | | | | | Within 1 year | $ | 1,186 | | $ | 1,212 | | | | | | After 1 year through 5 years | 1,140 | | 1,134 | | | | | | After 5 years through 10 years | 89 | | 102 | | | | | | After 10 years | 196 | | 210 | | | | | | Total | $ | 2,611 | | $ | 2,658 | | | | |
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