Annual report pursuant to Section 13 and 15(d)

Financial Instruments (Tables)

v3.25.0.1
Financial Instruments (Tables) - USD ($)
$ in Millions
 12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
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 28, 2024 December 30, 2023
  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 $ 1,721  $ 1,543  $ 1,717  $ 1,630 
 
Fair Value, by Balance Sheet Grouping [Table Text Block]
Financial Instruments Recorded at Fair Value on a Recurring Basis
December 28, 2024 December 30, 2023
(In millions) Level 1 Level 2
Level 3
 Total Level 1 Level 2 Total
Cash equivalents
Money market funds $ 1,496  $ —  $ —  $ 1,496  $ 969  $ —  $ 969 
Corporate debt securities —  806  —  806  —  753  753 
U.S. government and agency securities 130  —  —  130  1,252  —  1,252 
Non-U.S. government and agency securities —  116  —  116  —  135  135 
Time deposits and certificates of deposits —  107  —  107  —  205  205 
Short-term investments
Corporate debt securities —  814  —  814  —  506  506 
Time deposits and certificates of deposits —  10  —  10  —  9  9 
Asset-backed and mortgage-backed securities —  28  —  28  —  34  34 
U.S. government and agency securities 332  82  —  414  1,209  28  1,237 
Non-U.S. government and agency securities —  79  —  79  —  54  54 
Other non-current assets
Time deposits and certificates of deposits —  1  —  1  —  1  1 
Deferred compensation plan and other investments 197  —  25  222  133  —  133 
Total assets measured at fair value $ 2,155  $ 2,043  $ 25  $ 4,223  $ 3,563  $ 1,725  $ 5,288 
 
Investments Classified by Contractual Maturity Date
The contractual maturities of investments classified as available-for-sale are as follows:
December 28, 2024 December 30, 2023
Amortized Cost Fair Value Amortized Cost Fair Value
(In millions) (In millions)
Due within 1 year $ 2,073  $ 2,073  $ 3,792  $ 3,792 
Due in 1 year through 5 years 406  405  361  364 
Due in 5 years and later 27  26  32  30 
$ 2,506  $ 2,504  $ 4,185  $ 4,186 
 
Investment Holdings, Schedule of Investments
The following is a summary of cash equivalents and short-term investments:
December 28, 2024 December 30, 2023
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 $ 30  $ —  $ (2) $ 28  $ 35  $ —  $ (2) $ 33 
Corporate debt securities 1,621  —  (1) 1,620  1,259  —  —  1,259 
Money market funds 1,496  —  —  1,496  969  —  —  969 
Time deposits and certificates of deposits 117  —  —  117  214  —  —  214 
U.S. government and agency securities 544  —  —  544  2,487  3  —  2,490 
Non-U.S. government and agency securities 195  —  —  195  189  —  —  189 
$ 4,003  $ —  $ (3) $ 4,000  $ 5,153  $ 3  $ (2) $ 5,154 
 
Fair Value, Recurring    
Schedule of Investments [Line Items]    
Assets, Fair Value Disclosure $ 4,223 $ 5,288
Level 2    
Schedule of Investments [Line Items]    
Assets, Fair Value Disclosure 2,043 1,725
Level 1    
Schedule of Investments [Line Items]    
Assets, Fair Value Disclosure 2,155 3,563
Short-term Investments | Fair Value, Recurring | Commercial Paper    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 814 506
Short-term Investments | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 10 9
Short-term Investments | Level 2 | Fair Value, Recurring | Commercial Paper    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 814 506
Short-term Investments | Level 2 | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 10 9
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 1
Other Noncurrent Assets | Level 2 | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure 1 1
Other Noncurrent Assets | Level 1 | Fair Value, Recurring | Bank Time Deposits [Member]    
Schedule of Investments [Line Items]    
Investments, Fair Value Disclosure $ 0 $ 0