Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities (Tables)

v3.3.1.900
Marketable Securities (Tables)
3 Months Ended
Dec. 27, 2015
Marketable Securities [Abstract]  
Composition of marketable securities
Marketable securities were comprised as follows (in millions):
 
Current
 
Noncurrent
 
December 27,
2015
 
September 27,
2015
 
December 27,
2015
 
September 27,
2015
Trading:
 
 
 
 
 
 
 
U.S. Treasury securities and government-related securities
$

 
$

 
$
61

 
$
12

Corporate bonds and notes

 

 
300

 
364

Mortgage- and asset-backed and auction rate securities

 

 
279

 
242

Total trading

 

 
640

 
618

Available-for-sale:
 
 
 
 
 
 
 
U.S. Treasury securities and government-related securities
160

 
156

 
782

 
691

Corporate bonds and notes
7,942

 
7,926

 
7,568

 
7,112

Mortgage- and asset-backed and auction rate securities
1,339

 
1,302

 
299

 
263

Equity and preferred securities and equity funds
174

 
377

 
1,321

 
1,253

Debt funds

 

 
2,870

 
2,909

Total available-for-sale
9,615

 
9,761

 
12,840

 
12,228

Fair value option:
 
 
 
 
 
 
 
Debt fund

 

 
583

 
780

Total marketable securities
$
9,615

 
$
9,761

 
$
14,063

 
$
13,626

Contractual maturities of available-for-sale debt securities
At December 27, 2015, the contractual maturities of available-for-sale debt securities were as follows (in millions):
Years to Maturity
 
 
 
 
Less Than
One Year
 
One to
Five Years
 
Five to
Ten Years
 
Greater Than
Ten Years
 
No Single
Maturity
Date
 
Total
$
3,142

 
$
10,947

 
$
1,721

 
$
643

 
$
4,507

 
$
20,960

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):
 
Gross Realized Gains
 
Gross Realized Losses
 
Net Realized Gains
For the three months ended
 
 
 
 
 
December 27, 2015
$
50

 
$
(12
)
 
$
38

December 28, 2014
180

 
(8
)
 
172

Composition of available-for-sale securities
Available-for-sale securities were comprised as follows (in millions):
 
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value
December 27, 2015
 
 
 
 
 
 
 
Equity securities
$
1,266

 
$
251

 
$
(22
)
 
$
1,495

Debt securities (including debt funds)
21,234

 
132

 
(406
)
 
20,960

 
$
22,500

 
$
383

 
$
(428
)
 
$
22,455

September 27, 2015
 
 
 
 
 
 
 
Equity securities
$
1,394

 
$
264

 
$
(28
)
 
$
1,630

Debt securities (including debt funds)
20,459

 
185

 
(285
)
 
20,359

 
$
21,853

 
$
449

 
$
(313
)
 
$
21,989

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):
 
December 27, 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
$
808

 
$
(12
)
 
$
20

 
$
(2
)
Corporate bonds and notes
10,466

 
(132
)
 
956

 
(108
)
Mortgage- and asset-backed and auction rate securities
1,220

 
(7
)
 
164

 
(1
)
Equity and preferred securities and equity funds
360

 
(22
)
 
2

 

Debt funds
1,923

 
(138
)
 
79

 
(6
)
 
$
14,777

 
$
(311
)
 
$
1,221

 
$
(117
)
 
September 27, 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
$
304

 
$
(4
)
 
$

 
$

Corporate bonds and notes
7,656

 
(93
)
 
368

 
(62
)
Mortgage- and asset-backed and auction rate securities
862

 
(3
)
 
108

 
(1
)
Equity and preferred securities and equity funds
392

 
(28
)
 
17

 

Debt funds
1,792

 
(117
)
 
124

 
(5
)
 
$
11,006

 
$
(245
)
 
$
617

 
$
(68
)