Annual report pursuant to Section 13 and 15(d)

Financial Instruments (Tables)

v3.24.0.1
Financial Instruments (Tables) - USD ($)
$ in Millions
 12 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Schedule of Investments [Line Items]    
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:
  December 30, 2023 December 31, 2022
  Carrying
Amount		 Estimated
Fair Value		 Carrying
Amount		 Estimated
Fair Value
  (In millions) (In millions)
Current portion of long-term debt, net $ 751  $ 741  $ —  $ — 
Long-term debt, net of current portion $ 1,717  $ 1,630  $ 2,467  $ 2,281 
 
Fair Value, by Balance Sheet Grouping [Table Text Block]
Financial Instruments Recorded at Fair Value on a Recurring Basis
December 30, 2023 December 31, 2022
(In millions) Level 1 Level 2 Total Level 1 Level 2 Total
Cash equivalents
Money market funds $ 969  $ —  $ 969  $ 3,017  $ —  $ 3,017 
Corporate debt securities —  753  753  —  224  224 
U.S. government and agency securities 1,252  —  1,252  —  —  — 
Non-U.S. government and agency securities —  135  135  —  —  — 
Time deposits and certificates of deposits —  205  205  —  158  158 
Short-term investments
Corporate debt securities —  506  506  —  441  441 
Time deposits and certificates of deposits —  9  9  —  —  — 
Asset-backed and mortgage-backed securities —  34  34  —  39  39 
U.S. government and agency securities 1,209  28  1,237  466  —  466 
Non-U.S. government and agency securities —  54  54  —  74  74 
Other non-current assets
Time deposits and certificates of deposits —  1  1  —  9  9 
Equity investments —  —  —  8  —  8 
Deferred compensation plan investments 133  —  133  90  —  90 
Total assets measured at fair value $ 3,563  $ 1,725  $ 5,288  $ 3,581  $ 945  $ 4,526 
 
Investments Classified by Contractual Maturity Date
The contractual maturities of investments classified as available-for-sale are as follows:
December 30, 2023 December 31, 2022
Amortized Cost Fair Value Amortized Cost Fair Value
(In millions) (In millions)
Due within 1 year $ 3,792  $ 3,792  $ 1,224  $ 1,218 
Due in 1 year through 5 years 361  364  159  156 
Due in 5 years and later 32  30  41  38 
$ 4,185  $ 4,186  $ 1,424  $ 1,412 
 
Investment Holdings, Schedule of Investments
The following is a summary of cash equivalents and short-term investments:
December 30, 2023 December 31, 2022
Cost/ Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cost/ Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value
(in millions) (in millions)
Asset-backed and mortgage-backed securities $ 35  $ —  $ (2) $ 33  $ 42  $ —  $ (3) $ 39 
Corporate debt securities 1,259  —  —  1,259  669  —  (4) 665 
Money market funds 969  —  —  969  3,017  —  —  3,017 
Time deposits and certificates of deposits 214  —  —  214  159  —  —  159 
U.S. government and agency securities 2,487  3  —  2,490  471  —  (5) 466 
Non-U.S. government and agency securities 189  —  —  189  74  —  —  74 
$ 5,153  $ 3  $ (2) $ 5,154  $ 4,432  $ —  $ (12) $ 4,420 
 
Fair Value, Recurring    
Schedule of Investments [Line Items]    
Assets, Fair Value Disclosure $ 5,288 $ 4,526
Level 2    
Schedule of Investments [Line Items]    
Assets, Fair Value Disclosure 1,725 945
Level 1    
Schedule of Investments [Line Items]    
Assets, Fair Value Disclosure 3,563 3,581
Short-term Investments | Fair Value, Recurring | Commercial Paper    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 506 441
Short-term Investments | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 9 0
Short-term Investments | Level 2 | Fair Value, Recurring | Commercial Paper    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 506 441
Short-term Investments | Level 2 | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 9 0
Short-term Investments | Level 1 | Fair Value, Recurring | Commercial Paper    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 0 0
Short-term Investments | Level 1 | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 0 0
Other Noncurrent Assets | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 1 9
Other Noncurrent Assets | Fair Value, Recurring | Equity Securities    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 0 8
Other Noncurrent Assets | Level 2 | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 1 9
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 1 | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 0 0
Other Noncurrent Assets | Level 1 | Fair Value, Recurring | Equity Securities    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure $ 0 $ 8