Annual report pursuant to Section 13 and 15(d)

Investment Income (Loss)

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Investment Income (Loss)
12 Months Ended
Sep. 25, 2011
Notes to Financial Statements [Abstract]  
Note 5 - Investment Income (Loss)
Note 5. Investment Income (Loss)
Investment income (loss), net was comprised as follows (in millions):
 
2011
 
2010*
 
2009*
Interest and dividend income
$
500

 
$
530

 
$
516

Interest expense
(114
)
 
(43
)
 
(13
)
Net realized gains on marketable securities
335

 
401

 
136

Net realized gains on other investments
2

 
4

 
1

Impairment losses on marketable securities
(39
)
 
(111
)
 
(743
)
Impairment losses on other investments
(13
)
 
(14
)
 
(20
)
(Losses) gains on derivative instruments
(3
)
 
3

 
1

Equity in losses of investees
(7
)
 
(4
)
 
(17
)
 
$
661

 
$
766

 
$
(139
)

*As adjusted for discontinued operations (Note 11)
Impairment losses on marketable securities for fiscal 2011 and 2010 did not contain any amount related to the noncredit portion of losses on debt securities recognized in other comprehensive income. Impairment losses on marketable securities for fiscal 2009 were comprised of total other-than-temporary impairment losses of $747 million less $4 million related to the noncredit portion of losses on debt securities recognized in other comprehensive income. The other-than-temporary losses on marketable securities in fiscal 2009 were generally caused by a prolonged disruption in U.S. and foreign credit and financial markets that depressed securities values.