Fair Value (Tables)

12 Months Ended

Dec. 26, 2020

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis


	December 26, 2020								December 28, 2019
	Fair Value Measured and Recorded at Reporting Date Using						Total		Fair Value Measured and Recorded at Reporting Date Using						Total
(In Millions)	Level 1		Level 2		Level 3				Level 1		Level 2		Level 3
Assets
Cash equivalents:
Corporate debt	—		$	50	$	—	$	50	—		$	713	—		$	713
Financial institution instruments1	2,781		636		—		3,417		1,064		408		—		1,472

Reverse repurchase agreements	—		1,900		—		1,900		—		1,500		—		1,500
Short-term investments:
Corporate debt	—		428		—		428		—		347		—		347
Financial institution instruments1	—		1,179		—		1,179		—		724		—		724
Government debt2	—		685		—		685		—		11		—		11
Trading assets:

Corporate debt	—		3,815		—		3,815		—		2,848		—		2,848
Financial institution instruments1	131		2,847		—		2,978		87		1,578		—		1,665
Government debt2	—		8,945		—		8,945		—		3,334		—		3,334
Other current assets:
Derivative assets	48		644		—		692		50		230		—		280
Loans receivable3	—		439		—		439		—		—		—		—
Marketable equity securities	136		1,694		—		1,830		450		—		—		450
Other long-term investments:

Corporate debt	—		1,520		—		1,520		—		1,898		—		1,898
Financial institution instruments1	—		257		—		257		—		825		—		825
Government debt2	—		415		—		415		—		553		—		553
Other long-term assets:
Derivative assets	—		1,520		30		1,550		—		690		16		706
Loans receivable3	—		157		—		157		—		554		—		554
Total assets measured and recorded at fair value	$	3,096	$	27,131	$	30	$	30,257	$	1,651	$	16,213	$	16	$	17,880
Liabilities
Other accrued liabilities:
Derivative liabilities	$	—	$	810	$	—	$	810	$	3	$	287	$	—	$	290

Other long-term liabilities:
Derivative liabilities	—		5		—		5		—		13		—		13
Total liabilities measured and recorded at fair value	$	—	$	815	$	—	$	815	$	3	$	300	$	—	$	303

1Level 1 investments in financial institution instruments consist of money market funds. Level 2 investments consist primarily of commercial paper, certificates of deposit, time deposits, and notes and bonds issued by financial institutions.

2Level 2 investments in government debt consist primarily of U.S. agency notes and non-U.S. government debt, as well as marketable equity securities subject to security-specific restrictions.

3 The fair value of our loans receivable for which we elected the fair value option did not significantly differ from the contractual principal balance based on the contractual currency.