Financial Instruments (Tables)

12 Months Ended

Sep. 24, 2016

Investments, All Other Investments [Abstract]

Cash and Available-for-Sale Securities' Adjusted Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value Recorded as Cash and Cash Equivalents or Short-Term or Long-Term Marketable Securities

The following tables show the Company’s cash and available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category recorded as cash and cash equivalents or short- or long-term marketable securities as of September 24, 2016 and September 26, 2015 (in millions):

	2016
	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value		Cash and Cash Equivalents		Short-Term Marketable Securities		Long-Term Marketable Securities
Cash	$	8,601	$	—	$	—		$	8,601	$	8,601	$	—	$	—
Level 1:
Money market funds	3,666		—		—			3,666		3,666		—		—
Mutual funds	1,407		—		(146		)	1,261		—		1,261		—
Subtotal	5,073		—		(146		)	4,927		3,666		1,261		—
Level 2:
U.S. Treasury securities	41,697		319		(4		)	42,012		1,527		13,492		26,993
U.S. agency securities	7,543		16		—			7,559		2,762		2,441		2,356
Non-U.S. government securities	7,609		259		(27		)	7,841		110		818		6,913
Certificates of deposit and time deposits	6,598		—		—			6,598		1,108		3,897		1,593
Commercial paper	7,433		—		—			7,433		2,468		4,965		—
Corporate securities	131,166		1,409		(206		)	132,369		242		19,599		112,528
Municipal securities	956		5		—			961		—		167		794
Mortgage- and asset-backed securities	19,134		178		(28		)	19,284		—		31		19,253
Subtotal	222,136		2,186		(265		)	224,057		8,217		45,410		170,430
Total	$	235,810	$	2,186	$	(411	)	$	237,585	$	20,484	$	46,671	$	170,430

	2015
	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value		Cash and Cash Equivalents		Short-Term Marketable Securities		Long-Term Marketable Securities
Cash	$	11,389	$	—	$	—		$	11,389	$	11,389	$	—	$	—
Level 1:
Money market funds	1,798		—		—			1,798		1,798		—		—
Mutual funds	1,772		—		(144		)	1,628		—		1,628		—
Subtotal	3,570		—		(144		)	3,426		1,798		1,628		—
Level 2:
U.S. Treasury securities	34,902		181		(1		)	35,082		—		3,498		31,584
U.S. agency securities	5,864		14		—			5,878		841		767		4,270
Non-U.S. government securities	6,356		45		(167		)	6,234		43		135		6,056
Certificates of deposit and time deposits	4,347		—		—			4,347		2,065		1,405		877
Commercial paper	6,016		—		—			6,016		4,981		1,035		—
Corporate securities	116,908		242		(985		)	116,165		3		11,948		104,214
Municipal securities	947		5		—			952		—		48		904
Mortgage- and asset-backed securities	16,121		87		(31		)	16,177		—		17		16,160
Subtotal	191,461		574		(1,184		)	190,851		7,933		18,853		164,065
Total	$	206,420	$	574	$	(1,328	)	$	205,666	$	21,120	$	20,481	$	164,065

Cash and Available-for-Sale Securities' Adjusted Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value Recorded as Cash and Cash Equivalents or Short-Term or Long-Term Marketable Securities

The following tables show the Company’s cash and available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category recorded as cash and cash equivalents or short- or long-term marketable securities as of September 24, 2016 and September 26, 2015 (in millions):

	2016
	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value		Cash and Cash Equivalents		Short-Term Marketable Securities		Long-Term Marketable Securities
Cash	$	8,601	$	—	$	—		$	8,601	$	8,601	$	—	$	—
Level 1:
Money market funds	3,666		—		—			3,666		3,666		—		—
Mutual funds	1,407		—		(146		)	1,261		—		1,261		—
Subtotal	5,073		—		(146		)	4,927		3,666		1,261		—
Level 2:
U.S. Treasury securities	41,697		319		(4		)	42,012		1,527		13,492		26,993
U.S. agency securities	7,543		16		—			7,559		2,762		2,441		2,356
Non-U.S. government securities	7,609		259		(27		)	7,841		110		818		6,913
Certificates of deposit and time deposits	6,598		—		—			6,598		1,108		3,897		1,593
Commercial paper	7,433		—		—			7,433		2,468		4,965		—
Corporate securities	131,166		1,409		(206		)	132,369		242		19,599		112,528
Municipal securities	956		5		—			961		—		167		794
Mortgage- and asset-backed securities	19,134		178		(28		)	19,284		—		31		19,253
Subtotal	222,136		2,186		(265		)	224,057		8,217		45,410		170,430
Total	$	235,810	$	2,186	$	(411	)	$	237,585	$	20,484	$	46,671	$	170,430

	2015
	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value		Cash and Cash Equivalents		Short-Term Marketable Securities		Long-Term Marketable Securities
Cash	$	11,389	$	—	$	—		$	11,389	$	11,389	$	—	$	—
Level 1:
Money market funds	1,798		—		—			1,798		1,798		—		—
Mutual funds	1,772		—		(144		)	1,628		—		1,628		—
Subtotal	3,570		—		(144		)	3,426		1,798		1,628		—
Level 2:
U.S. Treasury securities	34,902		181		(1		)	35,082		—		3,498		31,584
U.S. agency securities	5,864		14		—			5,878		841		767		4,270
Non-U.S. government securities	6,356		45		(167		)	6,234		43		135		6,056
Certificates of deposit and time deposits	4,347		—		—			4,347		2,065		1,405		877
Commercial paper	6,016		—		—			6,016		4,981		1,035		—
Corporate securities	116,908		242		(985		)	116,165		3		11,948		104,214
Municipal securities	947		5		—			952		—		48		904
Mortgage- and asset-backed securities	16,121		87		(31		)	16,177		—		17		16,160
Subtotal	191,461		574		(1,184		)	190,851		7,933		18,853		164,065
Total	$	206,420	$	574	$	(1,328	)	$	205,666	$	21,120	$	20,481	$	164,065

Derivative Instruments at Gross Fair Value

The following tables show the Company’s derivative instruments at gross fair value as of September 24, 2016 and September 26, 2015 (in millions):

	2016
	Fair Value of Derivatives Designated as Hedge Instruments		Fair Value of Derivatives Not Designated as Hedge Instruments		Total Fair Value
Derivative assets (1):
Foreign exchange contracts	$	518	$	153	$	671
Interest rate contracts	$	728	$	—	$	728
Derivative liabilities (2):
Foreign exchange contracts	$	935	$	134	$	1,069
Interest rate contracts	$	7	$	—	$	7

	2015
	Fair Value of Derivatives Designated as Hedge Instruments		Fair Value of Derivatives Not Designated as Hedge Instruments		Total Fair Value
Derivative assets (1):
Foreign exchange contracts	$	1,442	$	109	$	1,551
Interest rate contracts	$	394	$	—	$	394
Derivative liabilities (2):
Foreign exchange contracts	$	905	$	94	$	999
Interest rate contracts	$	13	$	—	$	13

(1) The fair value of derivative assets is measured using Level 2 fair value inputs and is recorded as other current assets in the Consolidated Balance Sheets.

(2) The fair value of derivative liabilities is measured using Level 2 fair value inputs and is recorded as accrued expenses in the Consolidated Balance Sheets.

Pre-Tax Gains and Losses of Derivative and Non-Derivative Instruments Designated as Cash Flow, Net Investment and Fair Value Hedges

The following table shows the pre-tax gains and losses of the Company’s derivative and non-derivative instruments designated as cash flow, net investment and fair value hedges on OCI and the Consolidated Statements of Operations for 2016, 2015 and 2014 (in millions):

	2016			2015			2014
Gains/(Losses) recognized in OCI – effective portion:
Cash flow hedges:
Foreign exchange contracts	$	109		$	3,592		$	1,750
Interest rate contracts	(57		)	(111		)	(15		)
Total	$	52		$	3,481		$	1,735
Net investment hedges:
Foreign exchange contracts	$	—		$	167		$	53
Foreign currency debt	(258		)	(71		)	—
Total	$	(258	)	$	96		$	53
Gains/(Losses) reclassified from AOCI into net income – effective portion:
Cash flow hedges:
Foreign exchange contracts	$	885		$	4,092		$	(154	)
Interest rate contracts	(11		)	(17		)	(16		)
Total	$	874		$	4,075		$	(170	)
Gains/(Losses) on derivative instruments:
Fair value hedges:
Interest rate contracts	$	341		$	337		$	39
Gains/(Losses) related to hedged items:
Fair value hedges:
Interest rate contracts	$	(341	)	$	(337	)	$	(39	)

Notional Amounts of Outstanding Derivative Instruments and Credit Risk Amounts Associated with Outstanding or Unsettled Derivative Instruments

The following table shows the notional amounts of the Company’s outstanding derivative instruments and credit risk amounts associated with outstanding or unsettled derivative instruments as of September 24, 2016 and September 26, 2015 (in millions):

	2016				2015
	Notional Amount		Credit Risk Amount		Notional Amount		Credit Risk Amount
Instruments designated as accounting hedges:
Foreign exchange contracts	$	44,678	$	518	$	70,054	$	1,385
Interest rate contracts	$	24,500	$	728	$	18,750	$	394
Instruments not designated as accounting hedges:
Foreign exchange contracts	$	54,305	$	153	$	49,190	$	109