Quarterly report pursuant to Section 13 or 15(d)

Marketable Securities (Notes)

v3.10.0.1
Marketable Securities (Notes)
 9 Months Ended
Jun. 24, 2018
Marketable Securities [Abstract]  
Marketable Securities
Marketable Securities
Marketable securities were comprised as follows (in millions):
 
Current
 
Noncurrent
 
June 24,
2018
 
September 24,
2017
 
June 24,
2018
 
September 24,
2017
Available-for-sale:
 
 
 
 
 
 
 
U.S. Treasury securities and government-related securities
$
—

 
$
23

 
$
—

 
$
959

Corporate bonds and notes
213

 
2,014

 
—

 
271

Mortgage- and asset-backed and auction rate securities
—

 
93

 
35

 
40

Equity and preferred securities and equity funds
34

 
36

 
—

 
—

Debt funds
—

 
109

 
—

 
—

Total available-for-sale
247

 
2,275

 
35

 
1,270

Time deposits
44

 
4

 
—

 
—

Total marketable securities
$
291

 
$
2,279

 
$
35

 
$
1,270


The contractual maturities of available-for-sale debt securities were as follows (in millions):
 
June 24,
2018
Years to Maturity
 
Less than one year
$
194

One to five years
19

Five to ten years
—

Greater than ten years
—

No single maturity date
35

Total
$
248

Debt securities with no single maturity date included mortgage- and asset-backed securities and auction rate securities.
The Company recorded realized gains and losses on sales of available-for-sale securities as follows (in millions):
 
For the three months ended
 
For the nine months ended
 
June 24,
2018
 
June 25,
2017
 
June 24,
2018
 
June 25,
2017
Gross realized gains
$
3

 
$
119

 
$
16

 
$
422

Gross realized losses
(6
)
 
(8
)
 
(6
)
 
(116
)
Net realized gains
$
(3
)
 
$
111

 
$
10

 
$
306

Available-for-sale securities were comprised as follows (in millions):
 
June 24, 2018
 
September 24, 2017
Equity securities
 
 
 
Cost
$
8

 
$
8

Unrealized gains
26

 
28

Fair value
34

 
36

Debt securities (including debt funds)
 
 
 
Cost
247

 
3,497

Unrealized gains
1

 
13

Unrealized losses
—

 
(1
)
Fair value
248

 
3,509

 
$
282

 
$
3,545


In connection with the proposed NXP transaction (Note 8), the Company divested a substantial portion of its marketable securities portfolio in order to finance, in part, that transaction. Marketable securities that were expected to be used to finance the NXP transaction were fully liquidated and classified as cash and cash equivalents at June 24, 2018. Given the Company’s intention to sell certain marketable securities, the Company recorded other-than-temporary impairment losses in fiscal 2017 for certain marketable securities, and no additional losses were recorded in the nine months ended June 24, 2018.