v3.20.4
Cash, Cash Equivalents and Current Marketable Securities
 12 Months Ended
Jan. 03, 2021
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Current Marketable Securities Cash, Cash Equivalents and Current Marketable Securities
At the end of the fiscal year 2020 and 2019, cash, cash equivalents and current marketable securities were comprised of:
(Dollars in Millions)2020
Carrying AmountUnrecognized GainEstimated Fair ValueCash & Cash EquivalentsCurrent Marketable Securities
Cash$2,863 — 2,863 2,863 — 
Non-U.S. Sovereign Securities(1)
690 — 690 — 690 
U.S. Reverse repurchase agreements1,937 — 1,937 1,937 — 
Corporate debt securities(1)
2,674 — 2,674 1,451 1,223 
Money market funds2,102 — 2,102 2,102 — 
Time deposits(1)
877 — 877 877 — 
    Subtotal $11,143 — 11,143 9,230 1,913 
U.S. Gov't Securities$13,777 1 13,778 4,731 9,047 
Other Sovereign Securities14 — 14 — 14 
Corporate debt securities250 — 250 24 226 
   Subtotal available for sale(2)
$14,041 1 14,042 4,755 9,287 
Total cash, cash equivalents and current marketable securities$13,985 11,200 



(Dollars in Millions)2019
Carrying AmountCash & Cash EquivalentsCurrent Marketable Securities
Cash$2,637 2,637 — 
Non-U.S. Sovereign Securities(1)
439 149 290 
U.S. Reverse repurchase agreements6,375 6,375 — 
Other Reverse repurchase agreements375 375 — 
Corporate debt securities(1)
1,323 889 434 
Money market funds2,864 2,864 — 
Time deposits(1)
906 906 — 
    Subtotal $14,919 14,195 724 
Gov't Securities$4,102 3,095 1,007 
Corporate debt securities266 15 251 
   Subtotal available for sale(2)
$4,368 3,110 1,258 
Total cash, cash equivalents and current marketable securities$17,305 1,982 

(1) Held to maturity investments are reported at amortized cost and realized gains or losses are reported in earnings.
(2) Available for sale debt securities are reported at fair value with unrealized gains and losses reported net of taxes in other comprehensive income.

At the end of fiscal year 2019, the carrying amount was the same as the estimated fair value.
Fair value of government securities and obligations and corporate debt securities were estimated using quoted broker prices and significant other observable inputs.

The contractual maturities of the available for sale debt securities at January 3, 2021 are as follows:
(Dollars in Millions)Cost BasisFair Value
Due within one year$14,026 14,027 
Due after one year through five years15 15 
Due after five years through ten years— — 
Total debt securities$14,041 14,042 
The Company invests its excess cash in both deposits with major banks throughout the world and other high-quality money market instruments. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating.