Investments (Tables)

9 Months Ended

Sep. 25, 2020

Investments [Abstracts]

Unrealized Gain (Loss) on Investments

The calculation of net unrealized gains and losses recognized during the period related to equity securities still held at the end of the period is as follows (in millions):

	Three Months Ended
	September 25, 2020		September 27, 2019
Net gains (losses) recognized during the period related to equity securities	$	17	$	29
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	—		—
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	17	$	29

	Nine Months Ended
	September 25, 2020		September 27, 2019
Net gains (losses) recognized during the period related to equity securities	$	(137)	$	163
Less: Net gains (losses) recognized during the period related to equity securities sold during the period	(24)		16
Net unrealized gains (losses) recognized during the period related to equity securities still held at the end of the period	$	(113)	$	147

Carrying value of equity securities by balance sheet location [Table Text Block]

The carrying values of our equity securities were included in the following line items in our condensed consolidated balance sheets (in millions):

	Fair Value with Changes Recognized in Income		Measurement Alternative — No Readily Determinable Fair Value
September 25, 2020
Marketable securities	$	296	$	—
Other investments	662		50
Other assets	1,097		—
Total equity securities	$	2,055	$	50
December 31, 2019
Marketable securities	$	329	$	—
Other investments	772		82
Other assets	1,118		—
Total equity securities	$	2,219	$	82

Schedule of debt securities [Table Text Block]

Our debt securities consisted of the following (in millions):

			Gross Unrealized				Estimated Fair Value
	Cost		Gains		Losses
September 25, 2020
Trading securities	$	34	$	1	$	—	$	35
Available-for-sale securities	2,611		63		(16)		2,658
Total debt securities	$	2,645	$	64	$	(16)	$	2,693
December 31, 2019
Trading securities	$	46	$	1	$	—	$	47
Available-for-sale securities	3,172		113		(4)		3,281
Total debt securities	$	3,218	$	114	$	(4)	$	3,328

Fair value of debt securities by balance sheet location [Table Text Block]

The carrying values of our debt securities were included in the following line items in our condensed consolidated balance sheets (in millions):

	September 25, 2020				December 31, 2019
	Trading Securities		Available-for-Sale Securities		Trading Securities		Available-for-Sale Securities
Cash and cash equivalents	$	—	$	305	$	—	$	123
Marketable securities	35		2,065		47		2,852
Other assets	—		288		—		306
Total debt securities	$	35	$	2,658	$	47	$	3,281

Realized Gain (Loss) on Investments [Table Text Block]

The sale and/or maturity of available-for-sale debt securities resulted in the following realized activity (in millions):

	Three Months Ended				Nine Months Ended
	September 25, 2020		September 27, 2019		September 25, 2020		September 27, 2019
Gross gains	$	2	$	9	$	19	$	37
Gross losses	(3)		(1)		(11)		(5)
Proceeds	233		1,284		1,419		3,074

Contractual maturity amounts of the investment securities

The contractual maturities of these available-for-sale debt securities as of September 25, 2020 were as follows (in millions):

	Cost		Estimated Fair Value
Within 1 year	$	1,186	$	1,212
After 1 year through 5 years	1,140		1,134
After 5 years through 10 years	89		102
After 10 years	196		210
Total	$	2,611	$	2,658