Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.3.0.814
Fair Value Measurements (Tables)
 12 Months Ended
Sep. 27, 2015
Notes to Financial Statements [Abstract]  
Fair value hierarchy for assets and liabilities measured at fair value on a recurring basis
The following table presents the Company’s fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at September 27, 2015 (in millions):
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
Cash equivalents
$
2,043

 
$
5,055

 
$
—

 
$
7,098

Marketable securities
 
 
 
 
 
 
 
U.S. Treasury securities and government-related securities
41

 
818

 
—

 
859

Corporate bonds and notes
—

 
15,402

 
—

 
15,402

Mortgage- and asset-backed and auction rate securities
—

 
1,583

 
224

 
1,807

Equity and preferred securities and equity funds
1,168

 
462

 
—

 
1,630

Debt funds
—

 
3,689

 
—

 
3,689

Total marketable securities
1,209

 
21,954

 
224

 
23,387

Derivative instruments
1

 
39

 
—

 
40

Other investments
290

 
—

 
—

 
290

Total assets measured at fair value
$
3,543

 
$
27,048

 
$
224

 
$
30,815

Liabilities
 
 
 
 
 
 
 
Derivative instruments
$
—

 
$
6

 
$
—

 
$
6

Other liabilities
289

 
—

 
—

 
289

Total liabilities measured at fair value
$
289

 
$
6

 
$
—

 
$
295


Activity for marketable securities classified within Level 3 of the valuation hierarchy
The following table includes the activity for mortgage- and asset-backed and auction rate securities classified within Level 3 of the valuation hierarchy (in millions):
 
2015
 
2014
Beginning balance of Level 3
$
269

 
$
322

Total realized and unrealized gains or losses:
 
 
 
Included in investment income, net
3

 
11

Included in other comprehensive income (loss)
(4
)
 
(3
)
Purchases
69

 
107

Sales
(46
)
 
(126
)
Settlements
(64
)
 
(40
)
Transfers out of Level 3
(3
)
 
(2
)
Ending balance of Level 3
$
224

 
$
269