Financial Instruments (Tables) - USD ($)
$ in Millions |
12 Months Ended |
|
Dec. 31, 2022 |
Dec. 25, 2021 |
| Schedule of Investments [Line Items] |
|
|
| Other non-current assets |
$ 2,152
|
$ 1,478
|
| Financial Instruments Not Recorded at Fair Value on a Recurring Basis |
The carrying amounts and estimated fair values of the Company’s long-term debt are as follows:
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December 31, 2022 |
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December 25, 2021 |
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Carrying
Amount |
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Estimated
Fair Value |
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Carrying
Amount |
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Estimated
Fair Value |
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(In millions) |
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| Current portion of long-term debt, net |
$ |
— |
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$ |
— |
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$ |
312 |
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$ |
326 |
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| Long-term debt, net of current portion |
2,467 |
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|
2,281 |
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1 |
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15 |
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| Fair Value, by Balance Sheet Grouping [Table Text Block] |
Financial Instruments Recorded at Fair Value on a Recurring Basis
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December 31, 2022 |
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December 25, 2021 |
| (In millions) |
Level 1 |
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Level 2 |
|
Total |
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Level 1 |
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Level 2 |
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Total |
| Cash equivalents |
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| Money market funds |
$ |
3,017 |
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$ |
— |
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$ |
3,017 |
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$ |
4 |
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$ |
— |
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$ |
4 |
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| Commercial paper |
— |
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224 |
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224 |
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— |
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|
45 |
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45 |
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| Time deposits and certificates of deposits |
— |
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|
159 |
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|
159 |
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— |
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— |
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— |
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| Short-term investments |
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| Commercial paper |
— |
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|
441 |
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441 |
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— |
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|
880 |
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|
880 |
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| Time deposits and certificates of deposits |
— |
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— |
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— |
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— |
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193 |
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193 |
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| Asset-backed and mortgage-backed securities |
— |
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|
39 |
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39 |
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— |
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— |
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— |
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| U.S. Treasury and agency securities |
466 |
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— |
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466 |
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— |
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— |
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— |
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| Foreign government and agency securities |
— |
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|
74 |
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74 |
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— |
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— |
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— |
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| Other non-current assets |
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| Time deposits and certificates of deposits |
— |
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9 |
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9 |
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— |
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— |
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— |
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| Equity investments |
8 |
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— |
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8 |
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66 |
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— |
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66 |
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| Deferred compensation plan investments |
90 |
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— |
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90 |
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72 |
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— |
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|
72 |
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| Total assets measured at fair value |
$ |
3,581 |
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$ |
945 |
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$ |
4,526 |
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$ |
142 |
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$ |
1,118 |
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$ |
1,260 |
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| Investments Classified by Contractual Maturity Date |
The contractual maturities of investments classified as available-for-sale are as follows:
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December 31, 2022 |
|
December 25, 2021 |
|
Amortized Cost |
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Fair Value |
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Amortized Cost |
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Fair Value |
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(In millions) |
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(In millions) |
| Due within 1 year |
$ |
1,224 |
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$ |
1,218 |
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$ |
1,118 |
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$ |
1,118 |
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| Due in 1 year through 5 years |
159 |
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|
156 |
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— |
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— |
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| Due in 5 years and later |
41 |
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38 |
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— |
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— |
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$ |
1,424 |
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$ |
1,412 |
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$ |
1,118 |
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$ |
1,118 |
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| Fair Value, Recurring |
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| Schedule of Investments [Line Items] |
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| Assets, Fair Value Disclosure |
$ 4,526
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1,260
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| Level 2 |
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| Schedule of Investments [Line Items] |
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| Assets, Fair Value Disclosure |
945
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1,118
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| Level 1 |
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| Schedule of Investments [Line Items] |
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| Assets, Fair Value Disclosure |
3,581
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142
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| Short-term Investments | Fair Value, Recurring | Commercial Paper |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
441
|
880
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| Short-term Investments | Fair Value, Recurring | Bank Time Deposits [Member] |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
0
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193
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| Short-term Investments | Level 2 | Fair Value, Recurring | Commercial Paper |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
441
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880
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| Short-term Investments | Level 2 | Fair Value, Recurring | Bank Time Deposits [Member] |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
0
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193
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| Short-term Investments | Level 1 | Fair Value, Recurring | Commercial Paper |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
0
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0
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| Short-term Investments | Level 1 | Fair Value, Recurring | Bank Time Deposits [Member] |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
0
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0
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| Other Noncurrent Assets | Fair Value, Recurring | Bank Time Deposits [Member] |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
9
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0
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| Other Noncurrent Assets | Fair Value, Recurring | Equity Securities |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
8
|
66
|
| Other Noncurrent Assets | Fair Value, Recurring | Equity-Based Arrangements, Individual Contracts, Type of Deferred Compensation [Domain] |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
90
|
72
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| Other Noncurrent Assets | Level 2 | Fair Value, Recurring | Bank Time Deposits [Member] |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
9
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0
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| Other Noncurrent Assets | Level 2 | Fair Value, Recurring | Equity Securities |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
0
|
0
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| Other Noncurrent Assets | Level 2 | Fair Value, Recurring | Equity-Based Arrangements, Individual Contracts, Type of Deferred Compensation [Domain] |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
0
|
0
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| Other Noncurrent Assets | Level 1 | Fair Value, Recurring | Bank Time Deposits [Member] |
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| Schedule of Investments [Line Items] |
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| Investments, Fair Value Disclosure |
0
|
0
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| Other Noncurrent Assets | Level 1 | Fair Value, Recurring | Equity Securities |
|
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| Schedule of Investments [Line Items] |
|
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| Investments, Fair Value Disclosure |
8
|
66
|
| Other Noncurrent Assets | Level 1 | Fair Value, Recurring | Equity-Based Arrangements, Individual Contracts, Type of Deferred Compensation [Domain] |
|
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| Schedule of Investments [Line Items] |
|
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| Investments, Fair Value Disclosure |
$ 90
|
$ 72
|