Marketable Securities (Tables)
|
12 Months Ended |
Sep. 24, 2017 |
Marketable Securities [Abstract] |
|
Composition of marketable securities |
Marketable securities were comprised as follows (in millions):
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Current |
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Noncurrent |
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September 24, 2017 |
|
September 25, 2016 |
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September 24, 2017 |
|
September 25, 2016 |
Available-for-sale: |
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|
|
|
|
|
|
U.S. Treasury securities and government-related securities |
$ |
23 |
|
|
$ |
1,116 |
|
|
$ |
959 |
|
|
$ |
1,099 |
|
Corporate bonds and notes |
2,014 |
|
|
10,159 |
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|
271 |
|
|
8,584 |
|
Mortgage- and asset-backed and auction rate securities |
93 |
|
|
1,363 |
|
|
40 |
|
|
534 |
|
Equity and preferred securities and equity funds |
36 |
|
|
64 |
|
|
— |
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|
1,682 |
|
Debt funds |
109 |
|
|
— |
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|
— |
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|
1,803 |
|
Total available-for-sale |
2,275 |
|
|
12,702 |
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|
1,270 |
|
|
13,702 |
|
Time deposits |
4 |
|
|
— |
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|
— |
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|
— |
|
Total marketable securities |
$ |
2,279 |
|
|
$ |
12,702 |
|
|
$ |
1,270 |
|
|
$ |
13,702 |
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|
Contractual maturities of available-for-sale debt securities |
At September 24, 2017, the contractual maturities of available-for-sale debt securities were as follows (in millions):
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September 24, 2017 |
Years to Maturity: |
|
Less than one year |
$ |
2,189 |
|
One to five years |
1,079 |
|
Five to ten years |
— |
|
Greater than ten years |
— |
|
No single maturity date |
241 |
|
Total |
$ |
3,509 |
|
|
Realized gains and losses on sales of available-for-sale securities |
The Company recorded realized gains and losses on sales of available-for-sale securities as follows (in millions):
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Gross Realized Gains |
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Gross Realized Losses |
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Net Realized Gains |
2017 |
$ |
553 |
|
|
$ |
(127 |
) |
|
$ |
426 |
|
2016 |
277 |
|
|
(37 |
) |
|
240 |
|
2015 |
540 |
|
|
(52 |
) |
|
488 |
|
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Composition of available-for-sale securities |
Available-for-sale securities were comprised as follows (in millions):
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Cost |
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Unrealized Gains |
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Unrealized Losses |
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Fair Value |
September 24, 2017 |
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Equity securities |
$ |
8 |
|
|
$ |
28 |
|
|
$ |
— |
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|
$ |
36 |
|
Debt securities (including debt funds) |
3,497 |
|
|
13 |
|
|
(1 |
) |
|
3,509 |
|
|
$ |
3,505 |
|
|
$ |
41 |
|
|
$ |
(1 |
) |
|
$ |
3,545 |
|
September 25, 2016 |
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|
|
|
|
|
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Equity securities |
$ |
1,554 |
|
|
$ |
204 |
|
|
$ |
(12 |
) |
|
$ |
1,746 |
|
Debt securities (including debt funds) |
24,363 |
|
|
388 |
|
|
(93 |
) |
|
24,658 |
|
|
$ |
25,917 |
|
|
$ |
592 |
|
|
$ |
(105 |
) |
|
$ |
26,404 |
|
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Gross unrealized losses and fair values of investments in individual securities classified as available-for-sale in a continuous unrealized loss position deemed to be temporary |
The following table shows the gross unrealized losses and fair values of the Company’s investments in individual securities that are classified as available-for-sale and have been in a continuous unrealized loss position deemed to be temporary for less than 12 months and for more than 12 months, aggregated by investment category (in millions):
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|
September 24, 2017 |
|
Less than 12 months |
|
More than 12 months |
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Fair Value |
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Unrealized Losses |
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Fair Value |
|
Unrealized Losses |
Corporate bonds and notes |
$ |
330 |
|
|
$ |
(1 |
) |
|
$ |
21 |
|
|
$ |
— |
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|
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|
September 25, 2016 |
|
Less than 12 months |
|
More than 12 months |
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Fair Value |
|
Unrealized Losses |
|
Fair Value |
|
Unrealized Losses |
U.S. Treasury securities and government-related securities |
$ |
444 |
|
|
$ |
(5 |
) |
|
$ |
16 |
|
|
$ |
— |
|
Corporate bonds and notes |
2,775 |
|
|
(12 |
) |
|
1,033 |
|
|
(65 |
) |
Mortgage- and asset-backed and auction rate securities |
337 |
|
|
(3 |
) |
|
211 |
|
|
(2 |
) |
Equity and preferred securities and equity funds |
312 |
|
|
(4 |
) |
|
130 |
|
|
(8 |
) |
Debt funds |
— |
|
|
— |
|
|
309 |
|
|
(6 |
) |
|
$ |
3,868 |
|
|
$ |
(24 |
) |
|
$ |
1,699 |
|
|
$ |
(81 |
) |
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