Annual report pursuant to Section 13 and 15(d)

Financial Instruments (Tables)

v2.4.0.6
Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2011
Financial Instruments [Abstract]  
Available-For-Sale Securities
     

Fair

Value

 
     (In millions)  

December 31, 2011

  

Classified as cash equivalents:

  

Money market funds

   $ 738   

Commercial paper

     1   

Total classified as cash equivalents

   $ 739   

Classified as current marketable securities:

  

Commercial paper

   $ 698   

Time deposits

     160   

Auction rate securities

     38   

Total classified as current marketable securities

   $ 896   

Classified as long-term marketable securities:

  

Money market funds

   $ 9   

Corporate bonds

     140   

Total classified as long-term marketable securities

   $ 149   

Classified as other assets:

  

Money market funds

   $ 10   

Total classified as other assets

   $ 10   

December 25, 2010

  

Classified as cash equivalents:

  

Money market funds

   $ 405   

Commercial paper

     51   

Total classified as cash equivalents

   $ 456   

Classified as marketable securities:

  

Commercial paper

   $ 983   

Time deposits

     135   

Equity securities

     8   

Auction rate securities

     57   

Total classified as marketable securities

   $ 1,183   

Classified as other assets:

  

Money market funds

   $ 29   

Equity securities

     1   

Total classified as other assets

   $ 30   
Schedule Of Financial Instruments Measured And Recorded At Fair Value On Recurring Basis
      Fair value measurement at reporting dates using  
      Total    

Quoted Prices

in Active

Markets for

Identical Assets

(Level 1)

    

Significant

Other

Observable

Inputs

(Level 2)

   

Significant

Unobservable

Inputs

(Level 3)

 
     (In millions)  

December 31, 2011

         

Assets

         

Classified as cash equivalents:

         

Money market funds

   $ 738      $ 738       $ —        $ —     

Commercial paper

     1        —           1        —     

Total classified as cash equivalents

   $ 739      $ 738       $ 1      $ —     

Classified as current marketable securities:

         

Commercial paper

   $ 698      $ —         $ 698      $ —     

Time deposits

     160        —           160        —     

Auction rate securities

     38        —           —          38   

Total classified as current marketable securities

   $ 896      $ —         $ 858      $ 38   

Classified as long-term marketable securities:

         

Money market funds

   $ 9      $ 9       $ —        $ —     

Corporate bonds

     140        —           140        —     

Total classified as long-term marketable securities

   $ 149      $ 9       $ 140      $ —     

Classified as other assets:

         

Money market funds

   $ 10      $ 10       $ —        $ —     

Total classified as other assets

   $ 10      $ 10       $ —        $ —     

Total assets measured at fair value

   $ 1,794      $ 757       $ 999      $ 38   

Liabilities

         

Classified as accrued liabilities - Foreign currency derivative contracts

   $ (2   $ —         $ (2   $ —     

Total liabilities measured at fair value

   $ (2   $ —         $ (2   $ —     

December 25, 2010

         

Assets

         

Classified as cash equivalents:

         

Money market funds

   $ 405      $ 405       $ —        $ —     

Commercial paper

     51        —           51        —     

Total classified as cash equivalents

   $ 456      $ 405       $ 51      $ —     

Classified as marketable securities:

         

Commercial paper

   $ 983      $ —         $ 983      $ —     

Time deposits

     135        —           135        —     

Equity securities

     8        8         —          —     

Auction rate securities

     57        —           —          57   

Total classified as marketable securities

   $ 1,183      $ 8       $ 1,118      $ 57   

Classified as other assets:

         

Money market funds

   $ 29      $ 29       $ —        $ —     

Equity securities

     1        1         —          —     

Total classified as other assets

   $ 30      $ 30       $ —        $ —     
      Fair value measurement at reporting dates using  
      Total    

Quoted Prices

in Active

Markets for

Identical Assets

(Level 1)

    

Significant

Other

Observable

Inputs

(Level 2)

   

Significant

Unobservable

Inputs

(Level 3)

 
     (In millions)  

Total assets measured at fair value

   $ 1,669      $ 443       $ 1,169      $ 57   

Liabilities

         

Classified as accrued liabilities - Foreign currency derivative contracts

   $ (3   $ —         $ (3   $ —     

Total liabilities measured at fair value

   $ (3   $ —         $ (3   $ —     
Schedule Of Financial Assets Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3)
     

December 31,

2011

   

December 25,

2010

 
     

Auction

Rate Securities

   

Auction

Rate Securities

   

UBS

Put Option

 
     (In millions)  

Beginning balance

   $ 57      $ 159      $ 2   

Redemption at par

     (21     (98     —     

Gain (loss) included in net income (loss)

     2        3        (2

Change in fair value included in other comprehensive income (loss)

     —          (7     —     

Ending balance

   $ 38      $ 57      $ —     
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments Not Recorded At Fair Value
     

December 31,

2011

    

December 25,

2010

 
     

Carrying

amount

     Estimated
Fair Value
    

Carrying

amount

    

Estimated

Fair Value

 
     (In millions)  

Short-term debt (excluding capital leases)

   $ 485       $ 490       $ —         $ —     

Long-term debt (excluding capital leases)

   $ 1,505       $ 1,619       $ 2,162       $ 2,326