Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

 v2.3.0.11
Fair Value Measurements (Tables)
9 Months Ended
Jun. 26, 2011
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 June 26, 2011 (in millions):
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
Cash equivalents
$
2,520

 
$
2,489

 
$

 
$
5,009

Marketable securities
 
 
 
 
 
 
 
U.S. Treasury securities and government-related securities
15

 
198

 

 
213

Corporate bonds and notes

 
5,068

 

 
5,068

Mortgage- and asset-backed securities

 
656

 
9

 
665

Auction rate securities

 

 
126

 
126

Non-investment-grade debt securities

 
3,606

 
12

 
3,618

Common and preferred stock
1,186

 
766

 

 
1,952

Equity mutual and exchange-traded funds
1,021

 

 

 
1,021

Debt mutual funds
1,327

 
485

 

 
1,812

Total marketable securities
3,549

 
10,779

 
147

 
14,475

Derivative instruments

 
19

 

 
19

Other investments (1)
162

 

 

 
162

Total assets measured at fair value
$
6,231

 
$
13,287

 
$
147

 
$
19,665

Liabilities
 
 
 
 
 
 
 
Derivative instruments
$

 
$
23

 
$

 
$
23

Other liabilities (1)
162

 

 
8

 
170

Total liabilities measured at fair value
$
162

 
$
23

 
$
8

 
$
193


(1) Level 1 measurements are comprised of the Company’s deferred compensation plan liability and related assets, which are invested in mutual funds.
Activity for marketable securities classified within Level 3 of the valuation hierarchy
The following table includes the activity for marketable securities and other liabilities classified within Level 3 of the valuation hierarchy (in millions):
 
Nine Months Ended June 26, 2011
 
Auction Rate
Securities
 
Other Marketable
Securities
 
Other Liabilities
Beginning balance of Level 3
$
126

 
$
18

 
$
8

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

 
1

 

Included in other comprehensive income
2

 

 

Purchases
4

 

 

Settlements
(6
)
 
(4
)
 

Transfers into Level 3

 
6

 

Ending balance of Level 3
$
126

 
$
21

 
$
8

 
Nine Months Ended June 27, 2010
 
Auction Rate
Securities
 
Other Marketable
Securities
Beginning balance of Level 3
$
174

 
$
31

Total realized and unrealized gains (losses):
 
 
 
Included in investment income, net

 
5

Included in other comprehensive loss
3

 
(2
)
Settlements
(6
)
 
(19
)
Transfers into Level 3

 
4

Ending balance of Level 3
$
171

 
$
19