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Fair Value Measurements (Tables)
3 Months Ended
Mar. 28, 2014
Fair Value Disclosures [Abstract]  
Schedule of fair value of investment assets
The Company's investment assets are carried at fair value on the consolidated balance sheets as summarized in the table below. Additionally, the amortized cost basis of these investments was $422 million and $668 million as of March 28, 2014 and December 27, 2013, respectively.
 
March 28,
2014
 
December 27,
2013
(Dollars in Millions)
Level 1
Level 2
Level 3
Total
 
Level 1
Level 2
Level 3
Total
Certificates of Deposit and Commercial Paper
$

$
230

$

$
230

 
$

$
472

$

$
472

Corporate Bonds

129


129

 

132


132

Government Securities

49


49

 

49


49

Auction Rate Securities


15

15

 


15

15

Total investments at fair value
$

$
408

$
15

$
423

 
$

$
653

$
15

$
668



Schedule of investment maturities
These investments have the following maturities:
(Dollars in millions)
March 28,
2014
 
December 27,
2013
Less than 1 year
$
248

 
$
487

1 - 2 years
70

 
58

2 - 5 years
87

 
105

Greater than 5 years
18

 
18

Total
$
423

 
$
668

Schedule of fair value and carrying value of long-term debt
The fair value and carrying value of the Company's long-term debt is as follows:
(Dollars in millions)
March 28,
2014
 
December 27, 2013
Long-term Debt (Including Current Maturities):
 
 
 
Fair Value
$
10,411

 
$
10,354

Carrying Value
$
9,346

 
$
9,555