Annual report pursuant to Section 13 and 15(d)

Financial Instruments (Tables)

v2.4.0.6
Financial Instruments (Tables)
 12 Months Ended
Dec. 29, 2012
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-sale Securities
  
December 29,
2012
 
December 31,
2011
 
(In millions)
Fair Value
 
 
 
Classified as cash equivalents:
 
 
 
Money market funds
$
402

 
$
738

Commercial paper
75

 
1

Total classified as cash equivalents
$
477

 
$
739

Classified as current marketable securities:
 
 
 
Commercial paper
$
324

 
$
698

Time deposits
100

 
160

Auction rate securities
28

 
38

Marketable equity securities
1

 
—

Total classified as current marketable securities
$
453

 
$
896

Classified as long-term marketable securities:
 
 
 
Money market funds
$
13

 
$
9

Corporate bonds
168

 
140

Total classified as long-term marketable securities
$
181

 
$
149

Classified as other assets:
 
 
 
Money market funds
$
10

 
$
10

Mutual funds
14

 
—

Total classified as other assets
$
24

 
$
10

Schedule of Fair Value, Assets and Liabilities Measured 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 29, 2012
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Classified as cash equivalents:
 
 
 
 
 
 
 
Money market funds
$
402

 
$
402

 
$
—

 
$
—

Commercial paper
75

 
—

 
75

 
—

Total classified as cash equivalents
$
477

 
$
402

 
$
75

 
$
—

Classified as marketable securities:
 
 
 
 
 
 
 
Commercial paper
$
324

 
$
—

 
$
324

 
$
—

Time deposits
100

 
—

 
100

 
—

Auction rate securities
28

 
—

 
—

 
28

Marketable equity security
1

 
1

 
—

 
—

Total classified as marketable securities
$
453

 
$
1

 
$
424

 
$
28

Classified as long-term marketable securities:
 
 
 
 
 
 
 
Money market funds
$
13

 
$
13

 
$
—

 
$
—

Corporate bonds
168

 
—

 
168

 
—

Total classified as long-term marketable securities
$
181

 
$
13

 
$
168

 
$
—

Classified as other assets:
 
 
 
 
 
 
 
Money market funds
$
10

 
$
10

 
$
—

 
$
—

Mutual funds
14

 
14

 
—

 
—

Total classified as other assets
$
24

 
$
24

 
$
—

 
$
—

Total assets measured at fair value
$
1,135

 
$
440

 
$
667

 
$
28

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 marketable securities:
 
 
 
 
 
 
 
Commercial paper
$
698

 
$
—

 
$
698

 
$
—

Time deposits
160

 
—

 
160

 
—

Auction rate securities
38

 
—

 
—

 
38

Total classified as marketable securities
$
896

 
$
—

 
$
858

 
$
38

Classified as long-term marketable securities:
 
 
 
 
 
 
 
Money market funds
$
9

 
$
9

 
$
—

 
$
—

Corporate bonds
140

 
—

 
140

 
—

  
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 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
)
 
$
—

W
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
  
December 29,
2012
 
December 31,
2011
 
(In millions)
Beginning balance
$
38

 
$
57

Redemption at par
(6
)
 
(21
)
Gain (loss) included in net income (loss)
—

 
2

Change in fair value included in net income (loss)
(4
)
 
—

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

 
—

Ending balance
$
28

 
$
38

Fair Value Inputs, Assets, Quantitative Information
 
December 29,
2012
 
December 31,
2011
Discount rate for periodic interest payments
0.84
%
 
1.13
%
Discount rate for principal repayments
1.31
%
 
1.93
%
Liquidity discount
0.90
%
 
0.90
%
Credit discount
2.00% to 12.00%

 
2.00%

Estimated period
17 to 20 years

 
17 years

Financial Instruments Not Recorded at Fair Value on a Recurring Basis
  
December 29,
2012
 
December 31,
2011
  
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)
$
2,019

 
$
1,837

 
$
1,505

 
$
1,619