Marketable Securities (Tables)
|
9 Months Ended |
Jun. 28, 2015 |
|---|
| Marketable Securities [Abstract] |
|
| Composition of marketable securities |
Marketable securities were comprised as follows (in millions):
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|
|
|
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|
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Current |
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Noncurrent |
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June 28,
2015 |
|
September 28,
2014 |
|
June 28,
2015 |
|
September 28,
2014 |
Trading: |
|
|
|
|
|
|
|
U.S. Treasury securities and government-related securities |
$ |
329 |
|
|
$ |
320 |
|
|
$ |
6 |
|
|
$ |
38 |
|
Corporate bonds and notes |
187 |
|
|
191 |
|
|
379 |
|
|
367 |
|
Mortgage- and asset-backed securities |
— |
|
|
— |
|
|
252 |
|
|
237 |
|
Total trading |
516 |
|
|
511 |
|
|
637 |
|
|
642 |
|
Available-for-sale: |
|
|
|
|
|
|
|
U.S. Treasury securities and government-related securities |
138 |
|
|
805 |
|
|
708 |
|
|
392 |
|
Corporate bonds and notes |
8,628 |
|
|
6,274 |
|
|
7,078 |
|
|
7,649 |
|
Mortgage- and asset-backed securities |
1,297 |
|
|
1,063 |
|
|
216 |
|
|
195 |
|
Auction rate securities |
— |
|
|
— |
|
|
46 |
|
|
83 |
|
Common and preferred stock |
550 |
|
|
192 |
|
|
886 |
|
|
1,605 |
|
Equity funds |
— |
|
|
— |
|
|
496 |
|
|
541 |
|
Debt funds |
215 |
|
|
813 |
|
|
3,038 |
|
|
2,560 |
|
Total available-for-sale |
10,828 |
|
|
9,147 |
|
|
12,468 |
|
|
13,025 |
|
Fair value option: |
|
|
|
|
|
|
|
Debt fund |
— |
|
|
— |
|
|
789 |
|
|
790 |
|
Total marketable securities |
$ |
11,344 |
|
|
$ |
9,658 |
|
|
$ |
13,894 |
|
|
$ |
14,457 |
|
|
| Contractual maturities of available-for-sale debt securities |
At June 28, 2015, the contractual maturities of available-for-sale debt securities were as follows (in millions):
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Years to Maturity |
|
|
|
|
|
Less Than
One Year
|
|
One to
Five Years
|
|
Five to
Ten Years
|
|
Greater Than
Ten Years
|
|
No Single
Maturity
Date
|
|
Total |
$ |
3,750 |
|
|
$ |
11,156 |
|
|
$ |
1,005 |
|
|
$ |
641 |
|
|
$ |
4,812 |
|
|
$ |
21,364 |
|
|
| 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 |
For the three months ended |
|
|
|
|
|
June 28, 2015 |
$ |
126 |
|
|
$ |
(10 |
) |
|
$ |
116 |
|
June 29, 2014 |
267 |
|
|
(8 |
) |
|
259 |
|
|
|
|
|
|
|
For the nine months ended |
|
|
|
|
|
June 28, 2015 |
$ |
434 |
|
|
$ |
(48 |
) |
|
$ |
386 |
|
June 29, 2014 |
610 |
|
|
(16 |
) |
|
594 |
|
|
| Composition of available-for-sale securities |
Available-for-sale securities were comprised as follows (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost |
|
Unrealized Gains |
|
Unrealized Losses |
|
Fair Value |
June 28, 2015 |
|
|
|
|
|
|
|
Equity securities |
$ |
1,543 |
|
|
$ |
391 |
|
|
$ |
(2 |
) |
|
$ |
1,932 |
|
Debt securities (including debt funds) |
21,203 |
|
|
253 |
|
|
(92 |
) |
|
21,364 |
|
|
$ |
22,746 |
|
|
$ |
644 |
|
|
$ |
(94 |
) |
|
$ |
23,296 |
|
September 28, 2014 |
|
|
|
|
|
|
|
Equity securities |
$ |
1,769 |
|
|
$ |
575 |
|
|
$ |
(6 |
) |
|
$ |
2,338 |
|
Debt securities (including debt funds) |
19,582 |
|
|
312 |
|
|
(60 |
) |
|
19,834 |
|
|
$ |
21,351 |
|
|
$ |
887 |
|
|
$ |
(66 |
) |
|
$ |
22,172 |
|
|
| 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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|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
June 28, 2015 |
|
Less than 12 months |
|
More than 12 months |
|
Fair Value |
|
Unrealized Losses |
|
Fair Value |
|
Unrealized Losses |
U.S. Treasury securities and government-related securities |
$ |
313 |
|
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
— |
|
Corporate bonds and notes |
7,413 |
|
|
(59 |
) |
|
142 |
|
|
(9 |
) |
Mortgage- and asset-backed securities |
874 |
|
|
(2 |
) |
|
16 |
|
|
— |
|
Auction rate securities |
— |
|
|
— |
|
|
46 |
|
|
(1 |
) |
Common and preferred stock |
155 |
|
|
(2 |
) |
|
18 |
|
|
— |
|
Debt funds |
934 |
|
|
(18 |
) |
|
47 |
|
|
(1 |
) |
|
$ |
9,689 |
|
|
$ |
(83 |
) |
|
$ |
269 |
|
|
$ |
(11 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 28, 2014 |
|
Less than 12 months |
|
More than 12 months |
|
Fair Value |
|
Unrealized Losses |
|
Fair Value |
|
Unrealized Losses |
U.S. Treasury securities and government-related securities |
$ |
279 |
|
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
— |
|
Corporate bonds and notes |
4,924 |
|
|
(31 |
) |
|
104 |
|
|
(4 |
) |
Mortgage- and asset-backed securities |
484 |
|
|
(1 |
) |
|
52 |
|
|
(1 |
) |
Auction rate securities |
— |
|
|
— |
|
|
83 |
|
|
(1 |
) |
Common and preferred stock |
86 |
|
|
(3 |
) |
|
52 |
|
|
(3 |
) |
Debt funds |
133 |
|
|
(1 |
) |
|
384 |
|
|
(19 |
) |
|
$ |
5,906 |
|
|
$ |
(38 |
) |
|
$ |
675 |
|
|
$ |
(28 |
) |
|