Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.3.1.900
Fair Value Measurements (Tables)
3 Months Ended
Dec. 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 December 27, 2015 (in millions):
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
Cash equivalents
$
2,364

 
$
3,847

 
$

 
$
6,211

Marketable securities
 
 
 
 
 
 
 
U.S. Treasury securities and government-related securities
89

 
914

 

 
1,003

Corporate bonds and notes

 
15,810

 

 
15,810

Mortgage- and asset-backed and auction rate securities

 
1,743

 
174

 
1,917

Equity and preferred securities and equity funds
1,119

 
376

 

 
1,495

Debt funds

 
3,453

 

 
3,453

Total marketable securities
1,208

 
22,296

 
174

 
23,678

Derivative instruments

 
18

 

 
18

Other investments
306

 

 

 
306

Total assets measured at fair value
$
3,878

 
$
26,161

 
$
174

 
$
30,213

Liabilities
 
 
 
 
 
 
 
Derivative instruments
$

 
$
6

 
$

 
$
6

Other liabilities
306

 

 

 
306

Total liabilities measured at fair value
$
306

 
$
6

 
$

 
$
312


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):
 
Three Months Ended
 
December 27,
2015
 
December 28,
2014
Beginning balance of Level 3
$
224

 
$
269

Total realized and unrealized gains or losses:
 
 
 
Included in other comprehensive income (loss)
(1
)
 

Purchases

 
29

Sales
(1
)
 
(24
)
Settlements
(36
)
 
(44
)
Transfers out of Level 3
(12
)
 

Ending balance of Level 3
$
174

 
$
230