Marketable Securities (Tables)
|
3 Months Ended |
Dec. 27, 2015 |
|---|
| Marketable Securities [Abstract] |
|
| Composition of marketable securities |
Marketable securities were comprised as follows (in millions): | | | | | | | | | | | | | | | | | | Current | | Noncurrent | | December 27,
2015 | | September 27,
2015 | | December 27,
2015 | | September 27,
2015 | Trading: | | | | | | | | U.S. Treasury securities and government-related securities | $ | — |
| | $ | — |
| | $ | 61 |
| | $ | 12 |
| Corporate bonds and notes | — |
| | — |
| | 300 |
| | 364 |
| Mortgage- and asset-backed and auction rate securities | — |
| | — |
| | 279 |
| | 242 |
| Total trading | — |
| | — |
| | 640 |
| | 618 |
| Available-for-sale: | | | | | | | | U.S. Treasury securities and government-related securities | 160 |
| | 156 |
| | 782 |
| | 691 |
| Corporate bonds and notes | 7,942 |
| | 7,926 |
| | 7,568 |
| | 7,112 |
| Mortgage- and asset-backed and auction rate securities | 1,339 |
| | 1,302 |
| | 299 |
| | 263 |
| Equity and preferred securities and equity funds | 174 |
| | 377 |
| | 1,321 |
| | 1,253 |
| Debt funds | — |
| | — |
| | 2,870 |
| | 2,909 |
| Total available-for-sale | 9,615 |
| | 9,761 |
| | 12,840 |
| | 12,228 |
| Fair value option: | | | | | | | | Debt fund | — |
| | — |
| | 583 |
| | 780 |
| Total marketable securities | $ | 9,615 |
| | $ | 9,761 |
| | $ | 14,063 |
| | $ | 13,626 |
|
|
| Contractual maturities of available-for-sale debt securities |
At December 27, 2015, the contractual maturities of available-for-sale debt securities were as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | | Years to Maturity | | | | | Less Than One Year | | One to Five Years | | Five to Ten Years | | Greater Than Ten Years | | No Single Maturity Date | | Total | $ | 3,142 |
| | $ | 10,947 |
| | $ | 1,721 |
| | $ | 643 |
| | $ | 4,507 |
| | $ | 20,960 |
|
|
| Realized gains and losses on sales of available-for-sale securities |
The Company recorded realized gains and losses on sales of available-for-sale securities as follows (in millions): | | | | | | | | | | | | | | Gross Realized Gains | | Gross Realized Losses | | Net Realized Gains | For the three months ended | | | | | | December 27, 2015 | $ | 50 |
| | $ | (12 | ) | | $ | 38 |
| December 28, 2014 | 180 |
| | (8 | ) | | 172 |
|
|
| Composition of available-for-sale securities |
Available-for-sale securities were comprised as follows (in millions): | | | | | | | | | | | | | | | | | | Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | December 27, 2015 | | | | | | | | Equity securities | $ | 1,266 |
| | $ | 251 |
| | $ | (22 | ) | | $ | 1,495 |
| Debt securities (including debt funds) | 21,234 |
| | 132 |
| | (406 | ) | | 20,960 |
| | $ | 22,500 |
| | $ | 383 |
| | $ | (428 | ) | | $ | 22,455 |
| September 27, 2015 | | | | | | | | Equity securities | $ | 1,394 |
| | $ | 264 |
| | $ | (28 | ) | | $ | 1,630 |
| Debt securities (including debt funds) | 20,459 |
| | 185 |
| | (285 | ) | | 20,359 |
| | $ | 21,853 |
| | $ | 449 |
| | $ | (313 | ) | | $ | 21,989 |
|
|
| Gross unrealized losses and fair values of investments in individual securities classified as available-for-sale in a continuous unrealized loss position deemed to be temporary |
The following table shows the gross unrealized losses and fair values of the Company’s investments in individual securities that are classified as available-for-sale and have been in a continuous unrealized loss position deemed to be temporary for less than 12 months and for more than 12 months, aggregated by investment category (in millions): | | | | | | | | | | | | | | | | | | December 27, 2015 | | Less than 12 months | | More than 12 months | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | U.S. Treasury securities and government-related securities | $ | 808 |
| | $ | (12 | ) | | $ | 20 |
| | $ | (2 | ) | Corporate bonds and notes | 10,466 |
| | (132 | ) | | 956 |
| | (108 | ) | Mortgage- and asset-backed and auction rate securities | 1,220 |
| | (7 | ) | | 164 |
| | (1 | ) | Equity and preferred securities and equity funds | 360 |
| | (22 | ) | | 2 |
| | — |
| Debt funds | 1,923 |
| | (138 | ) | | 79 |
| | (6 | ) | | $ | 14,777 |
| | $ | (311 | ) | | $ | 1,221 |
| | $ | (117 | ) |
| | | | | | | | | | | | | | | | | | September 27, 2015 | | Less than 12 months | | More than 12 months | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | U.S. Treasury securities and government-related securities | $ | 304 |
| | $ | (4 | ) | | $ | — |
| | $ | — |
| Corporate bonds and notes | 7,656 |
| | (93 | ) | | 368 |
| | (62 | ) | Mortgage- and asset-backed and auction rate securities | 862 |
| | (3 | ) | | 108 |
| | (1 | ) | Equity and preferred securities and equity funds | 392 |
| | (28 | ) | | 17 |
| | — |
| Debt funds | 1,792 |
| | (117 | ) | | 124 |
| | (5 | ) | | $ | 11,006 |
| | $ | (245 | ) | | $ | 617 |
| | $ | (68 | ) |
|