Marketable Securities (Tables)
|
6 Months Ended |
Mar. 26, 2017 |
|---|
| Marketable Securities [Abstract] |
|
| Composition of marketable securities |
Marketable securities were comprised as follows (in millions): | | | | | | | | | | | | | | | | | | Current | | Noncurrent | | March 26,
2017 | | September 25,
2016 | | March 26,
2017 | | September 25,
2016 | Available-for-sale: | | | | | | | | U.S. Treasury securities and government-related securities | $ | 255 |
| | $ | 1,116 |
| | $ | 836 |
| | $ | 1,099 |
| Corporate bonds and notes | 2,273 |
| | 10,159 |
| | 16,057 |
| | 8,584 |
| Mortgage- and asset-backed and auction rate securities | 156 |
| | 1,363 |
| | 1,296 |
| | 534 |
| Equity and preferred securities and equity funds | 70 |
| | 64 |
| | 176 |
| | 1,682 |
| Debt funds | 104 |
| | — |
| | 511 |
| | 1,803 |
| | $ | 2,858 |
| | $ | 12,702 |
| | $ | 18,876 |
| | $ | 13,702 |
|
|
| Contractual maturities of available-for-sale debt securities |
At March 26, 2017, 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 | $ | 6,979 |
| | $ | 10,513 |
| | $ | 1,396 |
| | $ | 533 |
| | $ | 2,067 |
| | $ | 21,488 |
|
|
| 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 | | | | | | March 26, 2017 | $ | 57 |
| | $ | — |
| | $ | 57 |
| March 27, 2016 | 34 |
| | (11 | ) | | 23 |
| | | | | | | For the six months ended | | | | | | March 26, 2017 | $ | 303 |
| | $ | (107 | ) | | $ | 196 |
| March 27, 2016 | 84 |
| | (22 | ) | | 62 |
|
|
| Composition of available-for-sale securities |
Available-for-sale securities were comprised as follows (in millions): | | | | | | | | | | | | | | | | | | Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | March 26, 2017 | | | | | | | | Equity securities | $ | 171 |
| | $ | 75 |
| | $ | — |
| | $ | 246 |
| Debt securities (including debt funds) | 21,360 |
| | 156 |
| | (28 | ) | | 21,488 |
| | $ | 21,531 |
| | $ | 231 |
| | $ | (28 | ) | | $ | 21,734 |
| September 25, 2016 | | | | | | | | Equity securities | $ | 1,554 |
| | $ | 204 |
| | $ | (12 | ) | | $ | 1,746 |
| Debt securities (including debt funds) | 24,363 |
| | 388 |
| | (93 | ) | | 24,658 |
| | $ | 25,917 |
| | $ | 592 |
| | $ | (105 | ) | | $ | 26,404 |
|
|
| 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): | | | | | | | | | | | | | | | | | | March 26, 2017 | | Less than 12 months | | More than 12 months | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | U.S. Treasury securities and government-related securities | $ | 366 |
| | $ | (8 | ) | | $ | 3 |
| | $ | — |
| Corporate bonds and notes | 2,141 |
| | (18 | ) | | 25 |
| | — |
| Mortgage- and asset-backed and auction rate securities | 69 |
| | (1 | ) | | 55 |
| | (1 | ) | | $ | 2,576 |
| | $ | (27 | ) | | $ | 83 |
| | $ | (1 | ) |
| | | | | | | | | | | | | | | | | | September 25, 2016 | | Less than 12 months | | More than 12 months | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | U.S. Treasury securities and government-related securities | $ | 444 |
| | $ | (5 | ) | | $ | 16 |
| | $ | — |
| Corporate bonds and notes | 2,775 |
| | (12 | ) | | 1,033 |
| | (65 | ) | Mortgage- and asset-backed and auction rate securities | 337 |
| | (3 | ) | | 211 |
| | (2 | ) | Equity and preferred securities and equity funds | 312 |
| | (4 | ) | | 130 |
| | (8 | ) | Debt funds | — |
| | — |
| | 309 |
| | (6 | ) | | $ | 3,868 |
| | $ | (24 | ) | | $ | 1,699 |
| | $ | (81 | ) |
|