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Note 4: Fair Value
Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis
Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of
instruments as of December 29, 2012 and December 31, 2011:
December 29, 2012
December 31, 2011
Fair Value Measured and
Recorded at Reporting Date Using
Fair Value Measured and
Recorded at Reporting Date Using
(In Millions)
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
Assets
Cash equivalents:
Bank deposits..........................
$ —
$ 822
$ —
$ 822
$ —
$ 795
$ —
$ 795
Commercial paper...................
—
2,711
—
2,711
—
2,408
—
2,408
Government bonds..................
400
66
—
466
150
—
—
150
Money market fund
deposits...............................
1,086
—
—
1,086
546
—
—
546
Reverse repurchase
agreements.........................
—
2,800
—
2,800
—
500
—
500
Short-term investments:
Bank deposits..........................
—
540
—
540
—
196
—
196
Commercial paper...................
—
1,474
—
1,474
—
1,409
—
1,409
Corporate bonds .....................
75
292
21
388
120
428
28
576
Government bonds..................
1,307
290
—
1,597
2,690
310
—
3,000
Trading assets:
Asset-backed securities ..........
—
—
68
68
—
—
115
115
Bank deposits..........................
—
247
—
247
—
135
—
135
Commercial paper...................
—
336
—
336
—
305
—
305
Corporate bonds .....................
482
1,109
—
1,591
202
486
—
688
Government bonds..................
1,743
1,479
—
3,222
1,698
1,317
—
3,015
Money market fund
deposits...............................
18
—
—
18
49
—
—
49
Municipal bonds ......................
—
203
—
203
—
284
—
284
Other current assets:
Derivative assets.....................
12
208
1
221
—
159
7
166
Loans receivable .....................
—
203
—
203
—
33
—
33
Marketable equity securities........
4,424
—
—
4,424
522
40
—
562
Other long-term investments:
Asset-backed securities ..........
—
—
11
11
—
—
36
36
Bank deposits..........................
—
56
—
56
—
55
—
55
Corporate bonds .....................
10
218
26
254
—
282
39
321
Government bonds..................
59
113
—
172
177
300
—
477
Other long-term assets:
Derivative assets.....................
—
20
18
38
—
34
29
63
Loans receivable .....................
—
577
—
577
—
715
—
715
Total assets measured and
recorded at fair value ..........
$ 9,616
$ 13,764
$ 145
$ 23,525
$ 6,154
$ 10,191
$ 254
$ 16,599
Liabilities
Other accrued liabilities:
Derivative liabilities..................
$ 1
$ 291
$ —
$ 292
$ —
$ 280
$ 8
$ 288
Long-term debt ............................
—
—
—
—
—
—
131
131
Other long-term liabilities:
Derivative liabilities..................
—
20
—
20
—
27
—
27
Total liabilities measured
and recorded at fair
value ...................................
$ 1
$ 311
$ —
$ 312
$ —
$ 307
$ 139
$ 446