Annual report pursuant to Section 13 and 15(d)

Financial Instruments (Tables)

v3.22.0.1
Financial Instruments (Tables) - USD ($)
$ in Millions
 12 Months Ended
Dec. 25, 2021
Dec. 26, 2020
Schedule of Investments [Line Items]    
Other non-current assets $ 1,478 $ 373
Financial Instruments Not Recorded at Fair Value on a Recurring Basis
The Company carries its financial instruments at fair value with the exception of its long-term debt. The carrying amounts and estimated fair values of the Company’s long-term debt are as follows:
  December 25, 2021 December 26, 2020
  Carrying
Amount		 Estimated
Fair Value		 Carrying
Amount		 Estimated
Fair Value
  (In millions)
Current portion of long-term debt, net $ 312  $ 326  $ —  $ — 
Long-term debt, net of current portion 1  15  330  642 
 
Fair Value, by Balance Sheet Grouping [Table Text Block]
Financial Instruments Recorded at Fair Value on a Recurring Basis
December 25, 2021 December 26, 2020
(In millions) Level 1 Level 2 Total Level 1 Level 2 Total
Cash equivalents
Money market funds $ 4  $ —  $ 4  $ 1  $ —  $ 1 
Commercial paper —  45  45  —  —  — 
Short-term investments
Commercial paper —  880  880  —  295  295 
Time deposits —  193  193  —  400  400 
Other non-current assets
Equity investments 66  —  66  —  —  — 
Deferred compensation plan investments 72  —  72  46  —  46 
Total assets measured at fair value $ 142  $ 1,118  $ 1,260  $ 47  $ 695  $ 742 
 
Fair Value, Recurring    
Schedule of Investments [Line Items]    
Assets, Fair Value Disclosure $ 1,260 742
Level 2    
Schedule of Investments [Line Items]    
Assets, Fair Value Disclosure 1,118 695
Level 1    
Schedule of Investments [Line Items]    
Assets, Fair Value Disclosure 142 47
Cash and Cash Equivalents | Fair Value, Recurring | Government money Market Funds    
Schedule of Investments [Line Items]    
Cash and Cash Equivalents, Fair Value Disclosure 4 1
Cash and Cash Equivalents | Fair Value, Recurring | Commercial Paper    
Schedule of Investments [Line Items]    
Cash and Cash Equivalents, Fair Value Disclosure 45 0
Cash and Cash Equivalents | Level 2 | Fair Value, Recurring | Government money Market Funds    
Schedule of Investments [Line Items]    
Cash and Cash Equivalents, Fair Value Disclosure 0 0
Cash and Cash Equivalents | Level 2 | Fair Value, Recurring | Commercial Paper    
Schedule of Investments [Line Items]    
Cash and Cash Equivalents, Fair Value Disclosure 45 0
Investments, Fair Value Disclosure 880 295
Cash and Cash Equivalents | Level 2 | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 193 400
Cash and Cash Equivalents | Level 1 | Fair Value, Recurring | Government money Market Funds    
Schedule of Investments [Line Items]    
Cash and Cash Equivalents, Fair Value Disclosure 4 1
Cash and Cash Equivalents | Level 1 | Fair Value, Recurring | Commercial Paper    
Schedule of Investments [Line Items]    
Cash and Cash Equivalents, Fair Value Disclosure 0 0
Investments, Fair Value Disclosure 0 0
Cash and Cash Equivalents | Level 1 | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 0 0
Short-term Investments | Fair Value, Recurring | Commercial Paper    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 880 295
Short-term Investments | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 193 400
Other Noncurrent Assets | Fair Value, Recurring | Equity Securities    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 66 0
Other Noncurrent Assets | Fair Value, Recurring | Equity-Based Arrangements, Individual Contracts, Type of Deferred Compensation [Domain]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 72 46
Other Noncurrent Assets | Level 2 | Fair Value, Recurring | Equity Securities    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 0 0
Other Noncurrent Assets | Level 2 | Fair Value, Recurring | Equity-Based Arrangements, Individual Contracts, Type of Deferred Compensation [Domain]    
Schedule of Investments [Line Items]    
Other non-current assets 0 0
Other Noncurrent Assets | Level 1 | Fair Value, Recurring | Equity Securities    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 66 0
Other Noncurrent Assets | Level 1 | Fair Value, Recurring | Equity-Based Arrangements, Individual Contracts, Type of Deferred Compensation [Domain]    
Schedule of Investments [Line Items]    
Other non-current assets $ 72 $ 46