Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments (Tables)

v2.4.0.8
Financial Instruments (Tables)
 9 Months Ended
Sep. 28, 2013
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]  
Summary of Available-for-sale Securities
 
September 28,
2013
 
December 29,
2012
 
(In millions)
Fair Value
 
 
 
Classified as cash equivalents:
 
 
 
Money market funds
$
—

 
$
402

Commercial paper
150

 
75

Time deposits
25

 
—

Total classified as cash equivalents
$
175

 
$
477

Classified as current marketable securities:
 
 
 
Commercial paper
$
452

 
$
324

Time deposits
50

 
100

Auction rate securities
15

 
28

Marketable equity security
—

 
1

Total classified as current marketable securities
$
517

 
$
453

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

 
$
13

Corporate bonds
121

 
168

Total classified as long-term marketable securities
$
121

 
$
181

Classified as other assets:
 
 
 
Money market funds
$
18

 
$
10

Mutual funds
13

 
14

Total classified as other assets
$
31

 
$
24

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)
September 28, 2013
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Classified as cash equivalents:
 
 
 
 
 
 
 
Commercial paper
$
150

 
$
—

 
$
150

 
$
—

Time deposits
25

 
—

 
25

 
—

Total classified as cash equivalents
$
175

 
$
—

 
$
175

 
$
—

Classified as current marketable securities:
 
 
 
 
 
 
 
Commercial paper
$
452

 
$
—

 
$
452

 
$
—

Time deposits
50

 
—

 
50

 
—

Auction rate securities
15

 
—

 
—

 
15

Total classified as current marketable securities
$
517

 
$
—

 
$
502

 
$
15

Classified as long-term marketable securities:
 
 
 
 
 
 
 
Corporate bonds
$
121

 
$
—

 
$
121

 
$
—

Total classified as long-term marketable securities
$
121

 
$
—

 
$
121

 
$
—

Classified as other assets:
 
 
 
 
 
 
 
Money market funds
$
18

 
$
18

 
$
—

 
$
—

Mutual funds
13

 
13

 
—

 
—

Total classified as other assets
$
31

 
$
31

 
$
—

 
$
—

Total assets measured at fair value
$
844

 
$
31

 
$
798

 
$
15

 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Classified as accrued liabilities – Foreign currency derivative contracts
$
(1
)
 
$
—

 
$
(1
)
 
$
—

Total liabilities measured at fair value
$
(1
)
 
$
—

 
$
(1
)
 
$
—

 
 
 
 
 
 
 
 
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 current marketable securities:
 
 
 
 
 
 
 
Commercial paper
$
324

 
$
—

 
$
324

 
$
—

Time deposits
100

 
—

 
100

 
—

Auction rate securities
28

 
—

 
—

 
28

Marketable equity security
1

 
1

 
—

 
—

Total classified as current 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

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
 
Quarter Ended
 
Nine Months Ended
 
September 28,
2013
 
September 29,
2012
 
September 28,
2013
 
September 29,
2012
 
(In millions)
Beginning balance
$
15

 
$
32

 
$
28

 
$
38

Redemptions
—

 
—

 
(13
)
 
(6
)
Ending balance
$
15

 
$
32

 
$
15

 
$
32

Fair Value Inputs, Assets, Quantitative Information
 
September 28,
2013
 
December 29,
2012
Discount rate for periodic interest payments
0.63
%
 
0.84
%
Discount rate for principal repayments
1.26
%
 
1.31
%
Liquidity discount
0.90
%
 
0.90
%
Credit discount
2.00% to 12.00%

 
2.00% to 12.00%

Estimated period (years)
17 to 20 years

 
17 to 20 years

Financial Instruments Not Recorded at Fair Value on a Recurring Basis
 
September 28, 2013
 
December 29, 2012
 
Carrying
Amount
 
Estimated
Fair Value
 
Carrying
Amount
 
Estimated
Fair Value
 
(In millions)
Long-term debt (excluding capital leases)
$
2,031

 
$
2,105

 
$
2,019

 
$
1,837