Cover Page
Cover Page - USD ($) shares in Millions, $ in Billions | 12 Months Ended | ||
Dec. 28, 2019 | Jan. 17, 2020 | Jun. 29, 2019 | |
Cover page. | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 28, 2019 | ||
Document Transition Report | false | ||
Entity File Number | 000-06217 | ||
Entity Registrant Name | INTEL CORPORATION | ||
Entity Central Index Key | 0000050863 | ||
Company Fiscal Year End Date | --12-28 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 94-1672743 | ||
Entity Address, Address Line One | 2200 Mission College Boulevard, | ||
Entity Address, City or Town | Santa Clara, | ||
Entity Address, State or Province | CA | ||
City Area Code | 408 | ||
Local Phone Number | 765-8080 | ||
Title of 12(b) Security | Common stock, $0.001 par value | ||
Trading Symbol | INTC | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Common Stock, Shares Outstanding | 4,277 | ||
Entity Public Float | $ 212 | ||
Documents Incorporated by Reference [Text Block] | Portions of the registrant’s proxy statement related to its 2020 | ||
Entity Address, Postal Zip Code | 95054-1549 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Income Statement [Abstract] | |||
Net revenue | $ 71,965 | $ 70,848 | $ 62,761 |
Cost of sales | 29,825 | 27,111 | 23,663 |
Gross margin | 42,140 | 43,737 | 39,098 |
Research and development | 13,362 | 13,543 | 13,035 |
Marketing, general and administrative | 6,150 | 6,750 | 7,452 |
Restructuring and other charges | 393 | (72) | 384 |
Amortization of acquisition-related intangibles | 200 | 200 | 177 |
Operating expenses | 20,105 | 20,421 | 21,048 |
Operating income | 22,035 | 23,316 | 18,050 |
Gains (losses) on equity investments, net | 1,539 | (125) | 2,651 |
Interest and other, net | 484 | 126 | (349) |
Income before taxes | 24,058 | 23,317 | 20,352 |
Provision for taxes | 3,010 | 2,264 | 10,751 |
Net income | $ 21,048 | $ 21,053 | $ 9,601 |
Earnings per share—Basic | $ 4.77 | $ 4.57 | $ 2.04 |
Earnings per share—Diluted | $ 4.71 | $ 4.48 | $ 1.99 |
Weighted average shares of common stock outstanding: | |||
Basic (shares) | 4,417 | 4,611 | 4,701 |
Diluted (shares) | 4,473 | 4,701 | 4,835 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 21,048 | $ 21,053 | $ 9,601 |
Other comprehensive income, net of tax: | |||
Net unrealized holding gains (losses) on available-for-sale equity investments | 0 | 0 | (434) |
Net unrealized holding gains (losses) on derivatives | 177 | (253) | 365 |
Actuarial valuation and other pension benefits (expenses), net | (564) | 210 | 317 |
Translation adjustments and other | 81 | (3) | 508 |
Other comprehensive income (loss) | (306) | (46) | 756 |
Total comprehensive income | $ 20,742 | $ 21,007 | $ 10,357 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 28, 2019 | Dec. 29, 2018 |
Current assets: | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 4,194 | $ 3,019 |
Short-term investments | 1,082 | 2,788 |
Trading assets | 7,847 | 5,843 |
Accounts receivable, net of allowance for doubtful accounts | 7,659 | 6,722 |
Inventories | 8,744 | 7,253 |
Other current assets | 1,713 | 3,162 |
Total current assets | 31,239 | 28,787 |
Property, plant and equipment, net | 55,386 | 48,976 |
Equity investments | 3,967 | 6,042 |
Other long-term investments | 3,276 | 3,388 |
Goodwill | 26,276 | 24,513 |
Identified intangible assets, net | 10,827 | 11,836 |
Other long-term assets | 5,553 | 4,421 |
Total assets | 136,524 | 127,963 |
Current liabilities: | ||
Short-term debt | 3,693 | 1,261 |
Accounts payable | 4,128 | 3,824 |
Accrued compensation and benefits | 3,853 | 3,622 |
Other accrued liabilities | 10,636 | 7,919 |
Total current liabilities | 22,310 | 16,626 |
Debt | 25,308 | 25,098 |
Contract Liabilities | 1,368 | 2,049 |
Income taxes payable, non-current | 4,919 | 4,897 |
Deferred income taxes | 2,044 | 1,665 |
Other long-term liabilities | 2,916 | 2,646 |
Commitments and Contingencies (Note 20) | ||
Temporary equity | 155 | 419 |
Stockholders' equity: | ||
Preferred stock, $0.001 par value, 50 shares authorized; none issued | 0 | 0 |
Common stock, $0.001 par value, 10,000 shares authorized; 4,290 shares issued and outstanding (4,516 issued and outstanding in 2018) and capital in excess of par value | 25,261 | 25,365 |
Accumulated other comprehensive income (loss) | (1,280) | (974) |
Retained earnings | 53,523 | 50,172 |
Total stockholders’ equity | 77,504 | 74,563 |
Total liabilities, temporary equity, and stockholders’ equity | $ 136,524 | $ 127,963 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions | Dec. 28, 2019 | Dec. 29, 2018 |
Current assets: | ||
Accounts receivable allowance for doubtful accounts | $ 33 | $ 25 |
Stockholders' equity: | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 50 | 50 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 10,000 | 10,000 |
Common stock, shares issued | 4,290 | 4,516 |
Common stock, shares outstanding | 4,290 | 4,516 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Statement of Cash Flows [Abstract] | |||
Cash and cash equivalents, beginning of period | $ 3,019 | $ 3,433 | $ 5,560 |
Cash flows provided by (used for) operating activities: | |||
Net income | 21,048 | 21,053 | 9,601 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 9,204 | 7,520 | 6,752 |
Share-based compensation | 1,705 | 1,546 | 1,358 |
Amortization of intangibles | 1,622 | 1,565 | 1,377 |
(Gains) losses on equity investments, net | 892 | (155) | 2,583 |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | 690 | 497 | 387 |
Changes in assets and liabilities: | |||
Accounts receivable | (935) | (1,714) | (781) |
Inventories | (1,481) | (214) | (1,300) |
Accounts payable | 696 | 211 | 191 |
Accrued compensation and benefits | 91 | (260) | 311 |
Customer deposits and prepaid supply agreements | (782) | 1,367 | 1,105 |
Income taxes | 885 | (1,601) | 6,778 |
Other assets and liabilities | 2,674 | 301 | (312) |
Total adjustments | 12,097 | 8,379 | 12,509 |
Net cash provided by operating activities | 33,145 | 29,432 | 22,110 |
Cash flows provided by (used for) investing activities: | |||
Additions to property, plant and equipment | (16,213) | (15,181) | (11,778) |
Acquisitions, net of cash acquired | (1,958) | (190) | (14,499) |
Purchases of available-for-sale debt investments | (2,268) | (3,843) | (2,746) |
Sales of available-for-sale debt investments | 238 | 195 | 1,833 |
Maturities of available-for-sale debt investments | 3,988 | 2,968 | 3,687 |
Purchases of trading assets | (9,162) | (9,503) | (13,700) |
Maturities and sales of trading assets | 7,178 | 12,111 | 13,970 |
Purchases of equity investments | (522) | (874) | (1,619) |
Proceeds from Equity Method Investment, Distribution, Return of Capital | 2,688 | 2,802 | 5,236 |
Proceeds from Divestiture of Businesses | 911 | 548 | 3,124 |
Other investing | 715 | (272) | 730 |
Net cash used for investing activities | (14,405) | (11,239) | (15,762) |
Cash flows provided by (used for) financing activities: | |||
Issuance of long-term debt, net of issuance costs | 3,392 | 423 | 7,716 |
Repayments of Long-term Debt | (2,627) | (3,026) | (8,080) |
Proceeds from sales of common stock through employee equity incentive plans | 750 | 555 | 770 |
Repurchase of common stock | (13,576) | (10,730) | (3,615) |
Payment of dividends to stockholders | (5,576) | (5,541) | (5,072) |
Other financing | 72 | (288) | (194) |
Net cash provided by (used for) financing activities | (17,565) | (18,607) | (8,475) |
Net increase (decrease) in cash and cash equivalents | 1,175 | (414) | (2,127) |
Cash and cash equivalents, end of period | 4,194 | 3,019 | 3,433 |
Supplemental disclosures: | |||
Acquisition of property, plant and equipment included in accounts payable and accrued liabilities | 1,761 | 2,340 | 1,417 |
Interest, net of capitalized interest | 469 | 448 | 624 |
Income taxes, net of refunds | $ 2,110 | $ 3,813 | $ 3,824 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions | Total | Mobileye N.V. [Member] | Common Stock and Capital in Excess of Par Value [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] |
Beginning Balance, shares at Dec. 31, 2016 | 4,730 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 70 | ||||
Repurchase of common stock, shares | (101) | ||||
Restricted stock unit withholdings, shares | (12) | ||||
Ending Balance, shares at Dec. 30, 2017 | 4,687 | ||||
Beginning Balance at Dec. 31, 2016 | $ 66,226 | $ 25,373 | $ 106 | $ 40,747 | |
Components of comprehensive income, net of tax: | |||||
Net income | 9,601 | 9,601 | |||
Other comprehensive income (loss) | 756 | 756 | |||
Total comprehensive income | 10,357 | ||||
APIC, Share-based Payment Arrangement, ESPP, Increase for Cost Recognition | 1,171 | 1,172 | (1) | ||
Share-based compensation | 1,296 | 1,296 | |||
Temporary Equity, Carrying Amount, Period Increase (Decrease) | (894) | (894) | |||
Repurchase of common stock | (3,609) | (552) | (3,057) | ||
Restricted stock unit withholdings | (456) | (321) | (135) | ||
Cash dividends declared | (5,072) | (5,072) | |||
Ending Balance at Dec. 30, 2017 | 69,019 | $ 26,074 | 862 | 42,083 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Adjustment to opening balance for change in accounting principle | $ 634 | (1,790) | 2,424 | ||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 56 | ||||
Repurchase of common stock, shares | (217) | ||||
Restricted stock unit withholdings, shares | (10) | ||||
Ending Balance, shares at Dec. 29, 2018 | 4,516 | 4,516 | |||
Components of comprehensive income, net of tax: | |||||
Net income | $ 21,053 | 21,053 | |||
Other comprehensive income (loss) | (46) | (46) | |||
Total comprehensive income | 21,007 | ||||
APIC, Share-based Payment Arrangement, ESPP, Increase for Cost Recognition | 424 | $ 424 | |||
Share-based compensation | 1,548 | 1,548 | |||
Reclassifications of Temporary to Permanent Equity | 447 | 447 | |||
Temporary Equity, Carrying Amount, Period Increase (Decrease) | (1,591) | (1,591) | |||
Repurchase of common stock | (10,858) | (1,208) | (9,650) | ||
Restricted stock unit withholdings | (526) | (329) | (197) | ||
Cash dividends declared | (5,541) | (5,541) | |||
Ending Balance at Dec. 29, 2018 | $ 74,563 | $ 25,365 | (974) | 50,172 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 55 | ||||
Repurchase of common stock, shares | (272) | ||||
Restricted stock unit withholdings, shares | (9) | ||||
Ending Balance, shares at Dec. 28, 2019 | 4,290 | 4,290 | |||
Components of comprehensive income, net of tax: | |||||
Net income | $ 21,048 | 21,048 | |||
Other comprehensive income (loss) | (306) | (306) | |||
Total comprehensive income | 20,742 | ||||
APIC, Share-based Payment Arrangement, ESPP, Increase for Cost Recognition | 892 | $ 892 | |||
Share-based compensation | 1,705 | 1,705 | |||
Reclassifications of Temporary to Permanent Equity | 265 | 265 | |||
Temporary Equity, Carrying Amount, Period Increase (Decrease) | (1,032) | (1,032) | |||
Repurchase of common stock | (13,565) | (1,592) | (11,973) | ||
Restricted stock unit withholdings | (488) | (342) | (146) | ||
Cash dividends declared | (5,578) | (5,578) | |||
Ending Balance at Dec. 28, 2019 | $ 77,504 | $ 25,261 | $ (1,280) | $ 53,523 | |
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | $ 375 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Retained Earnings [Member] | |||
Cash dividends declared per common share (in dollars per share) | $ 1.2 | $ 1.0775 | $ 1.04 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Dec. 28, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation [Text Block] | NOTE 1 : BASIS OF PRESENTATION We have a 52- or 53-week fiscal year that ends on the last Saturday in December. Fiscal years 2019, 2018, and 2017 were 52-week fiscal years. Our Consolidated Financial Statements include the accounts of Intel and our subsidiaries. We have eliminated intercompany accounts and transactions. We have reclassified certain prior period amounts to conform to current period presentation. USE OF ESTIMATES The preparation of Consolidated Financial Statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the amounts reported in our Consolidated Financial Statements and the accompanying notes. The actual results that we experience may differ materially from our estimates. |
Accounting Policies
Accounting Policies | 12 Months Ended |
Dec. 28, 2019 | |
Accounting Policies [Abstract] | |
Accounting Policies [Text Block] | NOTE 2 : ACCOUNTING POLICIES REVENUE RECOGNITION We recognize net product revenue when we satisfy performance obligations as evidenced by the transfer of control of our products or services to customers. Substantially all of our revenue is derived from product sales. In accordance with contract terms, revenue for product sales is recognized at the time of product shipment from our facilities or delivery to the customer location, as determined by the agreed upon shipping terms. Prior to 2018, we deferred product revenue and related costs of sales on sales made to distributors that allowed for price protections or right of return until the distributor sold through the merchandise. We include shipping charges billed to customers in net revenue, and include the related shipping costs in cost of sales. We measure revenue based on the amount of consideration we expect to be entitled to in exchange for products or services. Variable consideration is estimated and reflected as an adjustment to the transaction price. We determine variable consideration, which consists primarily of various sales price concessions, by estimating the most likely amount of consideration we expect to receive from the customer based on historical analysis of customer purchase volumes. Sales rebates earned by customers are offset against their receivable balances. Rebates earned by customers when they do not have outstanding receivable balances are recorded within other accrued liabilities. The impacts of distributor sales price reductions resulting from price protection agreements are also estimated based on historical analysis of such activity and are reflected as a reduction in net revenue. We make payments to our customers through cooperative advertising programs for marketing activities for certain of our products. We generally record the payment as a reduction in revenue in the period that the revenue is earned, unless the payment is for a distinct service, which we record as expense when the marketing activities occur. During the second half of 2017, we transitioned customers from previous offerings under the Intel Inside ® INVENTORIES We compute inventory cost on a first-in, first-out basis. Our process and product development life cycle corresponds with substantive engineering milestones. These engineering milestones are regularly and consistently applied in assessing the point at which our activities and associated costs change in nature from R&D to cost of sales, and when cost of sales can be capitalized as inventory. For a product to be manufactured in high volumes and sold to our customers under our standard warranty, it must meet our rigorous technical quality specifications. This milestone is known as PRQ. We have identified PRQ as the point at which the costs incurred to manufacture our products are included in the valuation of inventory. Prior to PRQ, costs that do not meet the criteria for R&D are included in cost of sales in the period incurred. A single PRQ has previously ranged up to $870 million for our high-volume products. The valuation of inventory includes determining which fixed production overhead costs can be included in inventory based on the normal capacity of our manufacturing and assembly and test facilities. We apply our historical loadings compared to our total available capacity in a statistical model to determine our normal capacity level. If the factory loadings are below the established normal capacity level, a portion of our fixed production overhead costs would not be included in the cost of inventory; instead, it would be recognized as cost of sales in that period. We refer to these costs as excess capacity charges. Excess capacity charges are insignificant in the years presented. Charges in years prior to those presented have ranged up to $1.1 billion taken in connection with the 2009 economic recession. Inventory is valued at the lower of cost or net realizable value, based upon assumptions about future demand and market conditions. Product-specific facts and circumstances reviewed in the inventory valuation process include a review of our customer base, the stage of the product life cycle, variations in market pricing, and an assessment of selling price in relation to product cost. Lower of cost or net realizable value inventory reserves fluctuate as we ramp new process technologies with costs improving over time due to scale and improved yields. Additionally, inventory valuation is impacted by cyclical changes in market conditions and the associated pricing environment. The valuation of inventory also requires us to estimate obsolete and excess inventory, as well as inventory that is not of salable quality. We use the demand forecast to develop our short-term manufacturing plans to enable consistency between inventory valuations and build decisions. For certain new products, we have limited historical data when developing these demand forecasts. We compare the estimate of future demand to work in process and finished goods inventory levels to determine the amount, if any, of obsolete or excess inventory. When our demand forecast for specific products is greater than actual demand and we fail to reduce manufacturing output accordingly, we are required to write off inventory. PROPERTY, PLANT AND EQUIPMENT We compute depreciation using the straight-line method over the estimated useful life of assets. We also capitalize interest on borrowings related to eligible capital expenditures. Capitalized interest is added to the cost of qualified assets and depreciated together with that asset cost. We record capital-related government grants earned as a reduction to property, plant and equipment. We evaluate the period over which we expect to recover the economic value of our property, plant and equipment, considering factors such as the process technology cadence between node transitions, changes in machinery and equipment technology, and re-use of machinery and tools across each generation of process technology. As we make manufacturing process conversions and other factory planning decisions, we use assumptions involving the use of management judgments regarding the remaining useful lives of assets, primarily process-specific semiconductor manufacturing tools and building improvements. When we determine that the useful lives of assets are shorter or longer than we had originally estimated, we adjust the rate of depreciation to reflect the assets’ revised useful lives. Assets are “grouped” and evaluated for impairment at the lowest level of identifiable cash flows. We assess property, plant and equipment for impairment when events or changes in circumstances indicate that the carrying value of the assets or the asset grouping may not be recoverable. Factors that we consider in deciding when to perform an impairment review include significant under-performance of a business or product line in relation to expectations, significant negative industry or economic trends, and significant changes or planned changes in our use of the assets. We measure the recoverability of assets that we will continue to use in our operations by comparing the carrying value of the asset grouping to our estimate of the related total future undiscounted net cash flows arising from the use of that asset grouping. If an asset grouping carrying value is not recoverable through the related undiscounted cash flows, the asset grouping is considered to be impaired. We measure the impairment by comparing the difference between the asset grouping carrying value and its fair value. FAIR VALUE When determining fair value, we consider the principal or most advantageous market in which we would transact, as well as assumptions that market participants would use when pricing the asset or liability. Our financial assets are measured and recorded at fair value on a recurring basis, except for equity securities measured using the measurement alternative, equity method investments, cost method loans receivable, grants receivable, and reverse repurchase agreements with original maturities greater than three months. We assess fair value hierarchy levels for our issued debt and fixed-income investment portfolio based on the underlying instrument type. The three levels of inputs that may be used to measure fair value are: • Level 1. Quoted prices in active markets for identical assets or liabilities. We evaluate security-specific market data when determining whether a market is active. • Level 2. Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in less active markets, or model-derived valuations. All significant inputs used in our valuations, such as discounted cash flows, are observable or can be derived principally from or corroborated with observable market data for substantially the full term of the assets or liabilities. We use LIBOR-based yield curves, overnight indexed swap curve, currency spot and forward rates, and credit ratings as significant inputs in our valuations. Level 2 inputs also include non-binding market consensus prices, as well as quoted prices that were adjusted for security-specific restrictions. When we use non-binding market consensus prices, we corroborate them with quoted market prices for similar instruments or compare them to output from internally developed pricing models such as discounted cash flow models. • Level 3. Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. We monitor and review the inputs and results of these valuation models to help ensure the fair value measurements are reasonable and consistent with market experience in similar asset classes. Level 3 inputs also include non-binding market consensus prices or non-binding broker quotes that we were unable to corroborate with observable market data. DEBT INVESTMENTS We consider all highly liquid debt investments with original maturities from the date of purchase of three months or less as cash equivalents. Cash equivalents can include investments such as corporate debt, financial institution instruments, government debt, and reverse repurchase agreements. Marketable debt investments are generally designated as trading assets when a market risk is economically hedged at inception with a related derivative instrument, or when the marketable debt investment itself is used to economically hedge currency exchange rate risk from remeasurement. Investments designated as trading assets are reported at fair value. Gains or losses on these investments arising from changes in fair value due to interest rate and currency market fluctuations and credit market volatility, largely offset by losses or gains on the related derivative instruments and balance sheet remeasurement, are recorded in interest and other, net. Marketable debt investments are considered available-for-sale investments when the interest rate and foreign currency risks are not hedged at the inception of the investment or when our criteria for designation as trading assets are not met. Available-for-sale debt investments with original maturities of approximately three months or less from the date of purchase are classified within cash and cash equivalents. Available-for-sale debt investments with original maturities at the date of purchase greater than approximately three months and remaining maturities of less than one year are classified as short-term investments. Available-for-sale debt investments with remaining maturities beyond one year are classified as other long-term investments. Available-for-sale debt investments are reported at fair value, with unrealized gains or losses, net of tax, recorded in accumulated other comprehensive income (loss). We determine the cost of the investment sold based on an average cost basis at the individual security level, and record the interest income and realized gains or losses on the sale of these investments in interest and other, net. Our available-for-sale debt investments are subject to periodic impairment reviews. For these investments, we consider whether it is more likely than not that we will be required to sell the investment before recovery of its amortized cost basis, or whether recovery of the entire amortized cost basis of the investment is unlikely because a credit loss exists. When we do not expect to recover the entire amortized cost basis of the investment, we separate other-than-temporary impairments into amounts representing credit losses, which are recognized in interest and other, net, and amounts not related to credit losses, which are recognized in other comprehensive income (loss). EQUITY INVESTMENTS We regularly invest in equity securities of public and private companies to promote business and strategic objectives. Equity investments are measured and recorded as follows: • Marketable equity securities are equity securities with RDFV that are measured and recorded at fair value on a recurring basis with changes in fair value, whether realized or unrealized, recorded through the income statement. Prior to 2018, these securities were classified as available-for-sale securities and measured and recorded at fair value with unrealized changes in fair value recorded through other comprehensive income. • Non-marketable equity securities are equity securities without RDFV that are measured and recorded using a measurement alternative that measures the securities at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes. Prior to fiscal 2018, these securities were accounted for using the cost method of accounting, measured at cost less other-than-temporary impairment. • Equity method investments are equity securities in investees we do not control but over which we have the ability to exercise significant influence. Equity method investments are measured at cost minus impairment, if any, plus or minus our share of equity method investee income or loss. Our proportionate share of the income or loss from equity method investments is recognized on a one-quarter lag. Realized and unrealized gains and losses resulting from changes in fair value or the sale of our equity investments are recorded in gains (losses) on equity investments, net. Prior to 2018, we recorded unrealized gains and losses through other comprehensive income (loss) and realized gains and losses on the sale, exchange, or impairment of these equity investments through gains (losses) on equity investments, net. The carrying value of our non-marketable equity securities is adjusted for qualifying observable price changes resulting from the issuance of similar or identical securities by the same issuer. Determining whether an observed transaction is similar to a security within our portfolio requires judgment based on the rights and preferences of the securities. Recording upward and downward adjustments to the carrying value of our equity securities as a result of observable price changes requires quantitative assessments of the fair value of our securities using various valuation methodologies and involves the use of estimates. Non-marketable equity securities and equity method investments (collectively referred to as non-marketable equity investments) are also subject to periodic impairment reviews. Our quarterly impairment analysis considers both qualitative and quantitative factors that may have a significant impact on the investee's fair value. Qualitative factors considered include the investee's financial condition and business outlook, industry and sector performance, market for technology, operational and financing cash flow activities, and other relevant events and factors affecting the investee. When indicators of impairment exist, we prepare quantitative assessments of the fair value of our non-marketable equity investments using both the market and income approaches, which require judgment and the use of estimates, including discount rates, investee revenue and costs, and comparable market data of private and public companies, among others. • Non-marketable equity securities are tested for impairment using a qualitative model similar to the model used for goodwill and long-lived assets. Upon determining that an impairment may exist, the security's fair value is calculated and compared to its carrying value and an impairment is recognized immediately if the carrying value exceeds the fair value. Prior to 2018, non-marketable equity securities were tested for impairment using the other-than-temporary impairment model. • Equity method investments are subject to periodic impairment reviews using the other-than-temporary impairment model, which considers the severity and duration of a decline in fair value below cost and our ability and intent to hold the investment for a sufficient period of time to allow for recovery. Impairments of equity investments are recorded in gains (losses) on equity investments, net. DERIVATIVE FINANCIAL INSTRUMENTS Our primary objective for holding derivative financial instruments is to manage currency exchange rate risk and interest rate risk, and, to a lesser extent, equity market risk, commodity price risk, and credit risk. We enter into master netting arrangements to mitigate credit risk in derivative transactions by permitting net settlement of transactions with the same counterparty. A master netting arrangement allows counterparties to net settle amounts owed to each other as a result of multiple, separate derivative transactions. We also enter into collateral security arrangements with certain of our counterparties to exchange cash collateral when the net fair value of certain derivative instruments fluctuates from contractually established thresholds. We record the collateral within other current assets and other long-term assets with a corresponding liability. For presentation on our Consolidated Balance Sheets, we do not offset fair value amounts recognized for derivative instruments under master netting arrangements. Our derivative financial instruments are presented at fair value on a gross basis and are included in other current assets, other long-term assets, other accrued liabilities, or other long-term liabilities. Cash flow hedges use foreign currency contracts, such as currency forwards and currency interest rate swaps, to hedge exposures for the following items: • variability in the U.S.-dollar equivalent of non-U.S.-dollar-denominated cash flows associated with our forecasted operating and capital purchases spending; and • coupon and principal payments for our non-U.S.-dollar-denominated indebtedness. The after-tax gains or losses from the effective portion of a cash flow hedge is reported as a component of accumulated other comprehensive income (loss) and reclassified into earnings in the same period or periods in which the hedged transaction affects earnings, and in the same line item on the Consolidated Statements of Income as the impact of the hedge transaction. For foreign currency contracts hedging our capital purchases, forward points are excluded from the hedge effectiveness assessment, and are recognized in earnings in interest and other, net. If the cash flow hedge transactions become improbable, the corresponding amounts deferred in accumulated other comprehensive income (loss) would be immediately reclassified to interest and other, net. These derivatives are classified in the Consolidated Statements of Cash Flows in the same section as the underlying item. Fair value hedges use interest rate contracts, such as interest rate swaps, to hedge against changes in the fair value on certain of our fixed-rate indebtedness attributable to changes in the benchmark interest rate. The gains or losses on these hedges, as well as the offsetting losses or gains related to the changes in the fair value of the underlying hedged item attributable to the hedged risk, are recognized in earnings in the current period, primarily in interest and other, net. These derivatives are classified in the Consolidated Statements of Cash Flows in the same section as the underlying item, primarily within cash flows from financing activities. Non-designated hedges use foreign currency contracts to economically hedge the functional currency equivalent cash flows of recognized monetary assets and liabilities, non-U.S.-dollar-denominated debt instruments classified as trading assets, and non-U.S.-dollar-denominated loans receivables recognized at fair value. We also use interest rate contracts to hedge interest rate risk related to our U.S.-dollar-denominated fixed-rate debt instruments classified as trading assets. LOANS RECEIVABLE CREDIT RISK Financial instruments that potentially subject us to concentrations of credit risk consist principally of investments in debt instruments, derivative financial instruments, loans receivable, reverse repurchase agreements, and trade receivables. We enter into master netting arrangements to mitigate credit risk in derivative transactions by permitting net settlement of transactions with the same counterparty. We generally place investments with high-credit-quality counterparties and, by policy, we limit the amount of credit exposure to any one counterparty based on our analysis of that counterparty’s relative credit standing. As required per our investment policy, substantially all of our investments in debt instruments and financing receivables are in investment-grade instruments. Credit-rating criteria for derivative instruments are similar to those for other investments. Due to master netting arrangements, the amounts subject to credit risk related to derivative instruments are generally limited to the amounts, if any, by which the counterparty’s obligations exceed our obligations with that counterparty. As of December 28, 2019 , our total credit exposure to any single counterparty, excluding money market funds invested in U.S. treasury and U.S. agency securities and reverse repurchase agreements collateralized by treasury and agency securities, did not exceed $800 million . To further reduce credit risk, we obtain and secure available collateral from counterparties against obligations, including securities lending transactions, when we deem it appropriate. A substantial majority of our trade receivables are derived from sales to OEMs and ODMs. We also have accounts receivable derived from sales to industrial and communications equipment manufacturers in the computing and communications industries. We believe the net accounts receivable balances from our three largest customers ( 39% as of December 28, 2019 ) do not represent a significant credit risk, based on cash flow forecasts, balance sheet analysis, and past collection experience. For more information about the customers that represent our accounts receivable balance, see " Note 4: Operating Segments ." We have adopted credit policies and standards intended to accommodate industry growth and inherent risk. We believe credit risks are moderated by the financial stability of our major customers. We assess credit risk through quantitative and qualitative analysis. From this analysis, we establish shipping and credit limits, and determine whether we will seek to use one or more credit support protection devices, such as obtaining a parent guarantee, standby letter of credit, or credit insurance. BUSINESS COMBINATIONS We allocate the purchase price paid for assets acquired and liabilities assumed in connection with our acquisitions based on their estimated fair values at the time of acquisition. This allocation involves a number of assumptions, estimates, and judgments in determining the fair value of the following: • intangible assets, including the valuation methodology, estimations of future cash flows, discount rates, market segment growth rates, and our assumed market segment share, as well as the estimated useful life of intangible assets; • deferred tax assets and liabilities, uncertain tax positions, and tax-related valuation allowances, which are initially estimated as of the acquisition date; • inventory; property, plant and equipment; pre-existing liabilities or legal claims; deferred revenue; and contingent consideration, each as may be applicable; and • goodwill as measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. Our assumptions and estimates are based upon comparable market data and information obtained from our management and the management of the acquired companies. We allocate goodwill to the reporting units of the business that are expected to benefit from the business combination. GOODWILL We perform an annual impairment assessment of goodwill at the reporting unit level in the fourth quarter of each year, or more frequently if indicators of potential impairment exist. The analysis may include both qualitative and quantitative factors to assess the likelihood of an impairment. The reporting unit’s carrying value used in an impairment test represents the assignment of various assets and liabilities, excluding certain corporate assets and liabilities, such as cash, investments, and debt. Qualitative factors include industry and market considerations, overall financial performance, and other relevant events and factors affecting the reporting unit. Additionally, as part of this assessment, we may perform a quantitative analysis to support the qualitative factors above by applying sensitivities to assumptions and inputs used in measuring a reporting unit’s fair value. Our quantitative impairment test considers both the income approach and the market approach to estimate a reporting unit’s fair value. Significant estimates include market segment growth rates, our assumed market segment share, estimated costs, and discount rates based on a reporting unit's weighted average cost of capital. IDENTIFIED INTANGIBLE ASSETS We amortize acquisition-related intangible assets that are subject to amortization over their estimated useful life. Acquisition-related in-process R&D assets represent the fair value of incomplete R&D projects that had not reached technological feasibility as of the date of acquisition; initially, these are classified as in-process R&D and are not subject to amortization. Once these R&D projects are completed, the asset balances are transferred from in-process R&D to acquisition-related developed technology and are subject to amortization from this point forward. The asset balances relating to projects that are abandoned after acquisition are impaired and expensed to R&D. EMPLOYEE EQUITY INCENTIVE PLANS We use the straight-line amortization method to recognize share-based compensation expense over the service period of the award, net of estimated forfeitures. Upon exercise, cancellation, forfeiture, or expiration of stock options, or upon vesting or forfeiture of RSUs, we eliminate deferred tax assets for options and RSUs with multiple vesting dates for each vesting period on a first-in, first-out basis as if each vesting period were a separate award. INCOME TAXES We compute the provision for income taxes using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. We measure deferred tax assets and liabilities using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. We assess the likelihood that we will be able to recover our deferred tax assets. If recovery is not likely, we must increase our provision for taxes by recording a valuation allowance against the deferred tax assets that we estimate will not ultimately be recoverable. We believe that we will ultimately recover the deferred tax assets recorded on our Consolidated Balance Sheets. Recovery of a portion of our deferred tax assets is affected by management’s plans with respect to holding or disposing of certain investments; therefore, such changes could also affect our future provision for taxes. We recognize tax benefits from uncertain tax positions only if (based on the technical merits of the position) it is more likely than not that the tax positions will be sustained on examination by the tax authority. The tax benefits recognized in the financial statements from such positions are measured based on the largest amount that is more than 50% likely to be realized upon ultimate settlement. We recognize interest and penalties related to unrecognized tax benefits within the provision for taxes on the Consolidated Statements of Income. LOSS CONTINGENCIES We are subject to loss contingencies, including various legal and regulatory proceedings, asserted and potential claims, liabilities related to repair or replacement of parts in connection with product defects, as well as product warranties and potential asset impairments that arise in the ordinary course of business. An estimated loss from such contingencies is recognized as a charge to income if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. |
Recent Accounting Standards
Recent Accounting Standards | 12 Months Ended |
Dec. 28, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Standards [Text Block] | NOTE 3 : RECENT ACCOUNTING STANDARDS ACCOUNTING STANDARDS ADOPTED Leases Standard/Description: This new lease accounting standard requires that we recognize leased assets and corresponding liabilities on the balance sheet and provide enhanced disclosure of lease activity. Effective Date and Adoption Considerations: Effective in the first quarter of 2019. The standard was adopted applying the modified retrospective approach at the beginning of the period of adoption. Our leased assets and corresponding liabilities exclude non-lease components. Effect on Financial Statements or Other Significant Matters: Within the opening balances for the fiscal year beginning December 30, 2018, we recognized leased assets and corresponding liabilities in other long-term assets of $706 million , which includes $81 million of previously recognized prepaid land use rights, as well as corresponding accrued liabilities of $180 million and other long-term liabilities of $445 million . Accounting Policy Updates and Disclosures: We determine if an arrangement is a lease at inception and classify it as finance or operating. Leased assets and corresponding liabilities are recognized based on the present value of the lease payments over the lease term. Our lease terms may include options to extend when it is reasonably certain that we will exercise that option. We have lease agreements with lease and non-lease components, and the non-lease components are accounted for separately and not included in our leased assets and corresponding liabilities. Leases primarily consist of real property, and, to a lesser extent, certain machinery and equipment. We recognized leased assets in other long-term assets of $628 million and corresponding accrued liabilities of $175 million , and other long-term liabilities of $375 million as of December 28, 2019 . Our leases have remaining terms of 1 to 9 years , some of which may include options to extend the leases for up to 39 years . The weighted average remaining lease term was 4.7 years , and the weighted average discount rate was 3.4% as of December 28, 2019 . For the twelve months ended December 28, 2019 , lease expense was $185 million . In accordance with the new leases standard, discounted and undiscounted lease payments under non-cancelable leases as of December 28, 2019 , excluding non-lease components, were as follows: (In Millions) 2020 2021 2022 2023 2024 2025 and Thereafter Total Lease payments $ 178 $ 135 $ 97 $ 74 $ 54 $ 57 $ 595 Present value of lease payments $ 549 Lease expense was $231 million in 2018 ( $264 million in 2017). Prior to our adoption of the new leases standard, f uture minimum lease payments as of December 29, 2018, which were undiscounted and included lease and non-lease components, were as follows: (In Millions) 2019 2020 2021 2022 2023 2024 and Thereafter Total Minimum rental commitments under all non-cancelable leases $ 229 $ 181 $ 133 $ 101 $ 70 $ 121 $ 835 |
Operating Segments
Operating Segments | 12 Months Ended |
Dec. 28, 2019 | |
Segment Reporting [Abstract] | |
Operating Segments | NOTE 4 : OPERATING SEGMENTS We manage our business through the following operating segments: • DCG • IOTG • Mobileye • NSG • PSG • CCG • All other We offer platform products that incorporate various components and technologies, including a microprocessor and chipset, a stand-alone SoC, or a multichip package. A platform product may be enhanced by additional hardware, software, and services offered by Intel. Platform products are used in various form factors across our DCG, IOTG, and CCG operating segments. We derive a substantial majority of our revenue from platform products, which are our principal products and considered as one class of product. DCG and CCG are our reportable operating segments. IOTG, Mobileye, NSG, and PSG do not meet the quantitative thresholds to qualify as reportable operating segments; however, we have elected to disclose the results of these non-reportable operating segments. Our Internet of Things portfolio, presented as Internet of Things, is comprised of the IOTG and Mobileye operating segments. We have sales and marketing, manufacturing, engineering, finance, and administration groups. Expenses for these groups are generally allocated to the operating segments. The "all other" category includes revenue and expenses such as: • results of operations from non-reportable segments not otherwise presented; • historical results of operations from divested businesses; • results of operations of start-up businesses that support our initiatives, including our foundry business; • amounts included within restructuring and other charges; • a portion of employee benefits, compensation, and other expenses not allocated to the operating segments; and • acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill. The CODM, who is our CEO, allocates resources to and assesses the performance of each operating segment using information about the operating segment's revenue and operating income (loss). The CODM does not evaluate operating segments using discrete asset information and we do not identify or allocate assets by operating segments. Based on the interchangeable nature of our manufacturing and assembly and test assets, most of the related depreciation expense is not directly identifiable within our operating segments, as it is included in overhead cost pools and subsequently absorbed into inventory as each product passes through our manufacturing process. Because our products are then sold across multiple operating segments, it is impracticable to determine the total depreciation expense included as a component of each operating segment’s operating income (loss) results. Operating segments do not record inter-segment revenue. We do not allocate gains and losses from equity investments, interest and other income, or taxes to operating segments. Although the CODM uses operating income to evaluate the segments, operating costs included in one segment may benefit other segments. Except for these differences, the accounting policies for segment reporting are the same as for Intel as a whole. Net revenue and operating income (loss) for each period were as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Net revenue: Data Center Group Platform $ 21,441 $ 21,155 $ 17,439 Adjacent 2,040 1,836 1,625 23,481 22,991 19,064 Internet of Things IOTG 3,821 3,455 3,169 Mobileye 879 698 210 4,700 4,153 3,379 Non-Volatile Memory Solutions Group 4,362 4,307 3,520 Programmable Solutions Group 1,987 2,123 1,902 Client Computing Group Platform 32,681 33,234 31,226 Adjacent 4,465 3,770 2,777 37,146 37,004 34,003 All other 289 270 893 Total net revenue $ 71,965 $ 70,848 $ 62,761 Operating income (loss): Data Center Group $ 10,227 $ 11,476 $ 8,395 Internet of Things IOTG 1,097 980 650 Mobileye 245 143 (28 ) 1,342 1,123 622 Non-Volatile Memory Solutions Group (1,176 ) (5 ) (260 ) Programmable Solutions Group 318 466 458 Client Computing Group 15,202 14,222 12,919 All other (3,878 ) (3,966 ) (4,084 ) Total operating income $ 22,035 $ 23,316 $ 18,050 Disaggregated net revenue for each period was as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Platform revenue DCG platform $ 21,441 $ 21,155 $ 17,439 IOTG platform 3,440 3,065 2,645 CCG desktop platform 11,822 12,220 11,647 CCG notebook platform 20,779 20,930 19,414 Other platform 1 80 84 165 57,562 57,454 51,310 Adjacent revenue 2 14,403 13,394 10,917 ISecG divested business — — 534 Total revenue $ 71,965 $ 70,848 $ 62,761 1 Includes our tablet and service provider revenue. 2 In 2019 , our three largest customers accounted for 41% of our net revenue ( 39% in 2018 , 40% in 2017 ), with Dell Inc. accounting for 17% ( 16% in 2018 , 16% in 2017 ), Lenovo Group Limited accounting for 13% ( 12% in 2018 , 13% in 2017 ), and HP Inc. accounting for 11% ( 11% in 2018 , 11% in 2017 ). These three customers accounted for 39% of our accounts receivable as of December 28, 2019 ( 45% as of December 29, 2018 ). Substantially all of the revenue from these customers was from the sale of platforms and other components by the CCG and DCG operating segments. Net revenue by country as presented below is based on the billing location of the customer. Revenue from unaffiliated customers for each period was as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, China (including Hong Kong) $ 20,026 $ 18,824 $ 14,796 Singapore 15,650 15,409 14,285 United States 15,617 14,303 12,543 Taiwan 10,058 10,646 10,518 Other countries 10,614 11,666 10,619 Total net revenue $ 71,965 $ 70,848 $ 62,761 |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 28, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | NOTE 5 : EARNINGS PER SHARE We computed basic earnings per share of common stock based on the weighted average number of shares of common stock outstanding during the period. We computed diluted earnings per share of common stock based on the weighted average number of shares of common stock outstanding plus potentially dilutive shares of common stock outstanding during the period. Years Ended (In Millions, Except Per Share Amounts) Dec 28, Dec 29, Dec 30, Net income available to common stockholders $ 21,048 $ 21,053 $ 9,601 Weighted average shares of common stock outstanding—Basic 4,417 4,611 4,701 Dilutive effect of employee incentive plans 41 50 47 Dilutive effect of convertible debt 15 40 87 Weighted average shares of common stock outstanding—Diluted 4,473 4,701 4,835 Earnings per share—Basic $ 4.77 $ 4.57 $ 2.04 Earnings per share—Diluted $ 4.71 $ 4.48 $ 1.99 Potentially dilutive shares of common stock from employee incentive plans are determined by applying the treasury stock method to the assumed exercise of outstanding stock options, the assumed vesting of outstanding RSUs, and the assumed issuance of common stock under the 2006 ESPP. In December 2017, we paid cash to satisfy the conversion of our convertible debentures due 2035, which we excluded from our diluted earnings per share computation starting in the fourth quarter of 2017 and are no longer dilutive. In November 2019, we issued a notice of redemption for the remaining $372 million of 2009 Debentures with a redemption date of January 9, 2020. Our 2009 Debentures required settlement of the principal amount of the debt in cash upon conversion. Since the conversion premium was paid in cash or stock at our option, we determined the potentially dilutive shares of common stock by applying the treasury stock method. We included our 2009 Debentures in the calculation of diluted earnings per share of common stock in all periods presented because the average market price was above the conversion price. Securities that would have been anti-dilutive are insignificant and are excluded from the computation of diluted earnings per share in all periods presented. |
Contract Liabilities
Contract Liabilities | 12 Months Ended |
Dec. 28, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Contract Liabilities | NOTE 6 : CONTRACT LIABILITIES (In Millions) Dec 28, Dec 29, Prepaid supply agreements $ 1,805 $ 2,587 Other 236 122 Total contract liabilities $ 2,041 $ 2,709 Contract liabilities are primarily related to prepayments received from customers on long-term prepaid supply agreements toward future NSG product delivery. The short-term portion of contract liabilities is reported on the Consolidated Balance Sheets within other accrued liabilities. The following table shows the changes in contract liability balances relating to long-term prepaid supply agreements during 2019: (In Millions) Prepaid supply agreements balance as of December 29, 2018 $ 2,587 Prepaids utilized (782 ) Prepaid supply agreements balance as of December 28, 2019 $ 1,805 As new long-term prepaid supply agreements are entered into and performance obligations are negotiated, this component of the contract liability balance will increase, and as customers purchase product and utilize their prepaid balances, the balance will decrease. We expect our remaining contract liability balance of $1.8 billion to be recognized into revenue over the next 4 years. The timing and amount of future anticipated revenue may vary from our expectations due to changes in supply, demand, and market pricing. |
Other Financial Statement Detai
Other Financial Statement Details | 12 Months Ended |
Dec. 28, 2019 | |
Other Financial Statement Details [Abstract] | |
Other Financial Statement Details [Text Block] | NOTE 7 : OTHER FINANCIAL STATEMENT DETAILS INVENTORIES (In Millions) Dec 28, Dec 29, Raw materials $ 840 $ 813 Work in process 6,225 4,511 Finished goods 1,679 1,929 Total inventories $ 8,744 $ 7,253 PROPERTY, PLANT AND EQUIPMENT (In Millions) Dec 28, Dec 29, Land and buildings $ 37,743 $ 30,954 Machinery and equipment 74,901 66,721 Construction in progress 16,063 16,643 Total property, plant and equipment, gross 128,707 114,318 Less: accumulated depreciation (73,321 ) (65,342 ) Total property, plant and equipment, net $ 55,386 $ 48,976 Substantially all of our depreciable property, plant and equipment assets are depreciated over the following estimated useful lives: machinery and equipme nt, 2 to 5 years, and buildings, 10 to 30 y ears. Net property, plant and equipment by country at the end of each period was as follows: (In Millions) Dec 28, Dec 29, United States $ 35,262 $ 27,512 Israel 8,463 8,861 China 5,315 6,417 Ireland 3,854 3,947 Other countries 2,492 2,239 Total property, plant and equipment, net $ 55,386 $ 48,976 OTHER LONG-TERM ASSETS (In Millions) Dec 28, Dec 29, Non-current deferred tax assets $ 1,209 $ 1,122 Pre-payments for property, plant and equipment 1,641 1,507 Loans receivable 554 479 Other 2,149 1,313 Total other long-term assets $ 5,553 $ 4,421 OTHER ACCRUED LIABILITIES Other accrued liabilities include deferred compensation of $2.1 billion as of December 28, 2019 ( $1.7 billion as of December 29, 2018 ). ADVERTISING Advertising costs, including direct marketing, recorded within MG&A expenses were $832 million in 2019 ( $1.2 billion in 2018 and $1.4 billion in 2017 INTEREST AND OTHER, NET The components of interest and other, net for each period were as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Interest income $ 483 $ 438 $ 441 Interest expense (489 ) (468 ) (646 ) Other, net 490 156 (144 ) Total interest and other, net $ 484 $ 126 $ (349 ) Interest expense in the preceding table is net of $472 million of interest capitalized in 2019 ( $496 million in 2018 and $313 million in 2017 |
Restructuring and Other Charges
Restructuring and Other Charges | 12 Months Ended |
Dec. 28, 2019 | |
Restructuring Costs and Asset Impairment Charges [Abstract] | |
Restructuring and Other Charges [Text Block] | NOTE 8 : RESTRUCTURING AND OTHER CHARGES Years Ended (In Millions) Dec 28, Dec 29, Dec 30, 2019 Restructuring Program $ 393 $ — $ — 2016 Restructuring Program — (72 ) 135 ISecG separation costs and other charges — — 249 Total restructuring and other charges $ 393 $ (72 ) $ 384 2019 RESTRUCTURING PROGRAM A restructuring program was approved in the second quarter of 2019 to align our workforce with the planned exit of the smartphone modem business. We expect these actions to be substantially complete in the second quarter of 2020. Restructuring and other charges (benefits) by type for the 2019 Restructuring Program were as follows: Years Ended (In Millions) Dec 28, Employee severance and benefit arrangements $ 280 Asset impairment and other charges 113 Total restructuring and other charges $ 393 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 28, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes [Text Block] | NOTE 9 : INCOME TAXES INCOME TAX PROVISION Income before taxes and the provision for taxes consisted of the following: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Income before taxes: U.S. $ 13,729 $ 14,753 $ 11,141 Non-U.S. 10,329 8,564 9,211 Total income before taxes 24,058 23,317 20,352 Provision for taxes: Current: Federal 1,391 2,786 8,307 State 37 (11 ) 27 Non-U.S. 1,060 1,097 899 Total current provision for taxes 2,488 3,872 9,233 Deferred: Federal 597 (1,389 ) 1,680 Other (75 ) (219 ) (162 ) Total deferred provision for taxes 522 (1,608 ) 1,518 Total provision for taxes $ 3,010 $ 2,264 $ 10,751 Effective tax rate 12.5 % 9.7 % 52.8 % The difference between the tax provision at the statutory federal income tax rate and the tax provision as a percentage of income before income taxes (effective tax rate) for each period was as follows: Years Ended Dec 28, Dec 29, Dec 30, Statutory federal income tax rate 21.0 % 21.0 % 35.0 % Increase (reduction) in rate resulting from: Non-U.S. income taxed at different rates (3.7 ) (3.6 ) (7.6 ) Research and development tax credits (2.3 ) (2.7 ) (2.3 ) Domestic manufacturing deduction benefit — — (1.3 ) Foreign derived intangible income benefit (3.2 ) (3.7 ) — Tax Reform — (1.3 ) 26.8 ISecG divestiture — — 3.3 Other 0.7 (0.1 ) (1.1 ) Effective tax rate 12.5 % 9.7 % 52.8 % The majority of the increase in our effective tax rate in 2019 compared to 2018 was driven by one-time benefits that occurred in 2018. The majority of the decrease in our effective tax rate in 2018 compared to 2017 resulted from initial tax expense from Tax Reform and the tax impacts from the ISecG divestiture that we had in 2017, but not in 2018. The reduction of the U.S. statutory rate, combined with the net impact of the enactment or repeal of specific tax law provisions through Tax Reform, drove the remaining decrease in our effective tax rate in 2018. We derive the effective tax rate benefit attributed to non-U.S. income taxed at different rates primarily from our operations in China, Hong Kong, Ireland, and Israel. The statutory tax rates in these jurisdictions range from 12.5% to 25.0% . In addition, we are subject to reduced tax rates in China and Israel as long as we conduct certain eligible activities and make certain capital investments. These conditional reduced tax rates expire at various dates through 2026 and we expect to apply for renewals upon expiration. DEFERRED AND CURRENT INCOME TAXES Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts for income tax purposes. Significant components of our deferred tax assets and liabilities at the end of each period were as follows: (In Millions) Dec 28, Dec 29, Deferred tax assets: Accrued compensation and other benefits $ 740 $ 570 Share-based compensation 294 273 Inventory 760 517 State credits and net operating losses 1,511 1,297 Other, net 515 512 Gross deferred tax assets 3,820 3,169 Valuation allowance (1,534 ) (1,302 ) Total deferred tax assets 2,286 1,867 Deferred tax liabilities: Property, plant and equipment (1,807 ) (878 ) Licenses and intangibles (720 ) (744 ) Convertible debt (88 ) (204 ) Unrealized gains on investments and derivatives (292 ) (266 ) Other, net (214 ) (318 ) Total deferred tax liabilities (3,121 ) (2,410 ) Net deferred tax assets (liabilities) $ (835 ) $ (543 ) Reported as: Deferred tax assets 1,209 1,122 Deferred tax liabilities (2,044 ) (1,665 ) Net deferred tax assets (liabilities) $ (835 ) $ (543 ) Change in valuation allowance for deferred tax assets were as follows: Years Ended (In Millions) Balance at Beginning of Year Additions Charged to Expenses/ Other Accounts Net (Deductions) Recoveries Balance at End of Year Valuation allowance for deferred tax assets December 28, 2019 $ 1,302 $ 239 $ (7 ) $ 1,534 December 29, 2018 $ 1,171 $ 185 $ (54 ) $ 1,302 December 30, 2017 $ 953 $ 237 $ (19 ) $ 1,171 Deferred tax assets are included within other long-term assets on the Consolidated Balance Sheets. The valuation allowance as of December 28, 2019 included allowances primarily related to unrealized state credit carryforwards of $1.5 billion . As of December 28, 2019 , our federal, and non-U.S. net operating loss carryforwards for income tax purposes were $427 million and $357 million , respectively. Most of the non-U.S. net operating loss carryforwards have no expiration date. The remaining non-U.S. and some U.S. federal and state net operating loss carryforwards expire at various dates through 2040 . A significant amount of the net operating loss carryforwards in the U.S. relates to acquisitions and, as a result, is limited in the amount that can be recognized in any one year. At December 28, 2019 , we have undistributed earnings of certain foreign subsidiaries of approximately $22.0 billion that we have indefinitely invested, and on which we have not recognized deferred taxes. Estimating the amount of potential tax is not practicable because of the complexity and variety of assumptions necessary to compute the tax. Current income taxes receivable of $76 million as of December 28, 2019 ( $162 million as of December 29, 2018 ) are included in other current assets. Current income taxes payable of $575 million as of December 28, 2019 ( $366.0 million as of December 29, 2018 ) are included in other accrued liabilities. Long-term income taxes payable of $4.9 billion as of December 28, 2019 ( $4.9 billion as of December 29, 2018 ) includes uncertain tax positions, reduced by the associated federal deduction for state taxes and non-U.S. tax credits. Long-term income taxes payable may also include other long-term tax liabilities that are not uncertain but have not yet been paid, including the substantial majority of the transition tax from Tax Reform, which is payable over eight years beginning in 2018. UNCERTAIN TAX POSITIONS Unrecognized tax benefits were $548 million as of December 28, 2019 ( $283 million as of December 29, 2018 and $211 million as of December 30, 2017 ). If the remaining balance of unrecognized tax benefits were recognized in a future period, it would result in a tax benefit of $454 million as of December 28, 2019 ( $178 million as of December 29, 2018 ) and a reduction in the effective tax rate. The tax benefit for settlements, effective settlements, and remeasurements was insignificant in all periods presented. Interest, penalties, and accrued interest related to unrecognized tax benefits were insignificant in the periods presented. We comply with the laws, regulations, and filing requirements of all jurisdictions in which we conduct business. We regularly engage in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. Although the timing of the resolutions and/or closures of audits is highly uncertain, it is reasonably possible that certain U.S. federal and non-U.S. tax audits may be concluded within the next 12 months, which could increase or decrease the balance of our gross unrecognized tax benefits. We estimate that the unrecognized tax benefits as of December 28, 2019 could decrease by as much as $300 million in the next 12 months. We file federal, state, and non-U.S. tax returns. Excluding pre-acquisition Altera tax years, we are no longer subject to U.S. federal and non-U.S. tax examinations for years prior to 2012. For U.S. state tax returns, we are no longer subject to tax examination for years prior to 2012 . We are subject to U.S. federal examination for pre-acquisition Altera tax years back to 2004 |
Investments
Investments | 12 Months Ended |
Dec. 28, 2019 | |
Investments [Abstract] | |
Investments [Text Block] | NOTE 10 : INVESTMENTS DEBT INVESTMENTS Trading Assets Net gains related to trading assets still held at the reporting date were $26 million in 2019 (net losses of $188 million in 2018 and net gains of $414 million in 2017 ). Net gains on the related derivatives were $22 million in 2019 (net gains of $163 million in 2018 and net losses of $422 million in 2017 ). Available-for-Sale Debt Investments December 28, 2019 December 29, 2018 (In Millions) Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt $ 2,914 $ 44 $ — $ 2,958 $ 3,068 $ 2 $ (28 ) $ 3,042 Financial institution instruments 3,007 15 (1 ) 3,021 3,076 3 (11 ) 3,068 Government debt 560 4 — 564 1,069 1 (9 ) 1,061 Total available-for-sale debt investments $ 6,481 $ 63 $ (1 ) $ 6,543 $ 7,213 $ 6 $ (48 ) $ 7,171 Government debt includes instruments such as non-U.S. government bonds and U.S. agency securities. Financial institution instruments include instruments issued or managed by financial institutions in various forms, such as commercial paper, fixed- and floating-rate bonds, money market fund deposits, and time deposits. Substantially all time deposits were issued by institutions outside the U.S. as of December 28, 2019 and December 29, 2018 . The fair values of available-for-sale debt investments by contractual maturity as of December 28, 2019 were as follows: (In Millions) Fair Value Due in 1 year or less $ 2,203 Due in 1–2 years 1,065 Due in 2–5 years 2,171 Due after 5 years 40 Instruments not due at a single maturity date 1,064 Total $ 6,543 EQUITY INVESTMENTS (In Millions) Dec 28, Dec 29, Marketable equity securities $ 450 $ 1,440 Non-marketable equity securities 3,480 2,978 Equity method investments 37 1,624 Total $ 3,967 $ 6,042 The components of gains (losses) on equity investments, net for each period were as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Ongoing mark-to-market adjustments on marketable equity securities 1 $ 277 $ (129 ) — Observable price adjustments on non-marketable equity securities 1 293 202 — Impairment charges (122 ) (424 ) (833 ) Sale of equity investments and other 2 1,091 226 3,484 Total gains (losses) on equity investments, net $ 1,539 $ (125 ) $ 2,651 1 Ongoing mark-to-market adjustments and observable price adjustments relate to the new financial instruments standard adopted in the first quarter of 2018, and are not applicable in prior periods. 2 Sale of equity investments and other includes realized gains (losses) on sales of non-marketable equity investments, our share of equity method investee gains (losses), and initial fair value adjustments recorded upon a security becoming marketable. In 2017, sales of equity investments and other also included realized gains (losses) on sales of available-for-sale equity securities, which are reflected in ongoing mark-to-market adjustments on marketable equity securities subsequent to 2017. In 2019 , we recognized $293 million in observable price adjustments ( $202 million in observable price adjustments in 2018 ). In 2019, we also recognized impairments of $122 million on non-marketable equity securities ( $132 million in 2018 and $555 million in 2017 ). During the second quarter of 2017, we determined we had an other-than-temporary decline in the fair value of our investment in Cloudera Inc. and recognized an impairment charge of $278 million . In 2019 , we recognized no equity method investee losses ( $153 million in 2018 and $223 million in 2017 ). Gains and losses for our marketable and non-marketable equity securities during each period were as follows: (In Millions) Dec 28, Dec 29, Net gains (losses) recognized during the period on equity securities $ 734 $ 298 Less: Net (gains) losses recognized during the period on equity securities sold during the period (424 ) (445 ) Unrealized gains (losses) recognized during the period on equity securities still held at the reporting date $ 310 $ (147 ) ASML As of December 29, 2018, Intel owned $1.1 billion of shares in ASML, all of which we sold in 2019. During 2017, we recognized $3.4 billion in realized gains on sales of a portion of our interest in ASML. IMFT IMFT was formed in 2006 by Micron and Intel to jointly develop NAND flash memory and 3D XPoint™ technology products. IMFT was an unconsolidated variable interest entity and all costs of IMFT were passed on to Micron and Intel through sale of products or services in proportional share of ownership. IMFT depended on Micron and Intel for any additional cash needs to be provided in the form of cash calls or MDF. During the third quarter of 2018, we recognized an impairment charge of $290 million related to IMFT. As of December 29, 2018 , we had a carrying value of $1.6 billion in IMFT and owned a 49% interest in the entity. Our proportional share of IMFT costs was approximately $550 million in 2019 (approximately $494 million in 2018 and $415 million in 2017). In January 2019, Micron exercised its right to call our interest in IMFT and on October 31, 2019, Intel sold its non-controlling interest in IMFT to Micron. With the sale of our interest in IMFT and MDF repayment throughout the year, we received $1.7 billion in cash proceeds during 2019. With the sale of our interest, we reported a gain of $107 million in the fourth quarter of 2019. We will continue to purchase products manufactured by Micron at the IMFT facility under established supply agreements. McAfee During the second quarter of 2017, we closed our divestiture of the ISecG business and retained a 49% interest in McAfee as partial consideration. Our investment is accounted for under the equity method of accounting. During 2019 , we received $632 million in dividend distributions from McAfee. During 2017, we received $735 million in dividend distributions from McAfee. As of December 28, 2019, we had no accounting carrying value in McAfee. For further information related to the divestiture of the ISecG business, see " Note 11: Acquisitions and Divestitures ." Beijing Unisoc Technology Ltd. (Unisoc ) During 2015, we invested $966 million for a minority stake of Beijing UniSpreadtrum Technology Ltd., a holding company under Tsinghua Unigroup Ltd. During 2017, we reduced our expectation of the company's future operating performance due to competitive pressures, which resulted in an impairment charge of $308 million . Beijing UniSpreadtrum Technology Ltd. and RDA Microelectronics subsequently merged and rebranded themselves as Unisoc. We account for our interest in Unisoc as a non-marketable equity security. The second phase of the investment required additional funding of approximately $500 million |
Acquisitions & Divestitures
Acquisitions & Divestitures | 12 Months Ended |
Dec. 28, 2019 | |
Business Combinations [Abstract] | |
Acquisitions and Divestitures [Text Block] | NOTE 11 : ACQUISITIONS AND DIVESTITURES ACQUISITIONS We completed five acquisitions in both 2019 and 2018, all of which qualified as business combinations. Except for the acquisition of Habana Labs, these acquisitions are not significant to our results of operations, individually or in the aggregate. The consideration for the acquisitions in 2019 and 2018 primarily consisted of cash and was allocated to goodwill and identified intangible assets . For information on the assignment of goodwill to our operating segments, see " Note 12: Goodwill ," and for information on the classification of intangible assets, see " Note 13: Identified Intangible Assets ." Habana Labs On December 12, 2019, we acquired Habana Labs, an Israel-based developer of programmable deep learning accelerators targeting AI workloads in the data center. Habana Labs strengthens our AI portfolio and accelerates our efforts to capitalize on the nascent, fast-growing AI silicon market opportunity. Total consideration to acquire Habana Labs was $1.7 billion . The fair values of the assets acquired relate to goodwill of $1.5 billion and acquisition-related intangible assets of $250 million , which was primarily in-process research and development. The goodwill and operating results of Habana Labs are included in our DCG operating segment. Goodwill of $1.5 billion arising from the acquisition is attributed to the expected synergies and other benefits that will be generated from the combination of Intel and Habana Labs. Substantially all of the goodwill recognized is not expected to be deductible for tax purposes. DIVESTITURES Smartphone Modem Business On December 2, 2019, we completed the divestiture of the majority of our smartphone modem business, including certain employees, IP, equipment, and leases. Net assets sold were $267 million . We recognized a pre-tax gain of $690 million on the divestiture. Wind River During the second quarter of 2018, we completed the divestiture of Wind River and recognized a pre-tax gain of $494 million . Intel Security Group During the second quarter of 2017, we closed the transaction with TPG VII Manta Holdings, L.P., now known as Manta Holdings, L.P., transferring certain assets and liabilities relating to ISecG to a newly formed, jointly owned, separate cybersecurity company called McAfee. As of the transaction close date, we recognized a pre-tax gain of $387 million within Interest and other, net, which is net of $507 million of currency translation adjustment losses reclassified from accumulated other comprehensive income (loss) associated with currency charges on the carrying values of ISecG goodwill and identified intangible assets. In addition, we recognized a tax expense of $822 million . |
Goodwill
Goodwill | 12 Months Ended |
Dec. 28, 2019 | |
Business Combination, Goodwill [Abstract] | |
Goodwill [Text Block] | NOTE 12 : GOODWILL Goodwill activity for each period was as follows: Dec 29, Acquisitions Transfers Other Dec 28, Data Center Group $ 5,424 $ 1,758 $ — $ — $ 7,155 Internet of Things Group 1,579 — — — 1,579 Mobileye 10,290 — — — 10,290 Programmable Solutions Group 2,579 67 — 8 2,681 Client Computing Group 4,403 — — (70 ) 4,333 All other 238 — — — 238 Total $ 24,513 $ 1,825 $ — $ (62 ) $ 26,276 (In Millions) Dec 30, Acquisitions Transfers Other Dec 29, Data Center Group $ 5,421 $ 3 $ — $ — $ 5,424 Internet of Things Group 1,126 16 480 (43 ) 1,579 Mobileye 10,278 7 — 5 10,290 Programmable Solutions Group 2,490 89 — — 2,579 Client Computing Group 4,356 47 — — 4,403 All other 718 — (480) — 238 Total $ 24,389 $ 162 $ — $ (38 ) $ 24,513 During the third quarter of 2018, we made an organizational change to combine our AI investments in edge computing with IOTG; accordingly, approximately $480 million of goodwill was reallocated from "all other" to the IOTG operating segment. During the fourth quarters of 2019 and 2018 , we completed our annual impairment assessments and we concluded that goodwill was not impaired in either of these years. The accumulated impairment loss as of December 28, 2019 was $719 million : $365 million associated with CCG, $275 million associated with DCG, and $79 million |
Identified Intangible Assets
Identified Intangible Assets | 12 Months Ended |
Dec. 28, 2019 | |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | |
Identified Intangible Assets [Text Block] | NOTE 13 : IDENTIFIED INTANGIBLE ASSETS December 28, 2019 December 29, 2018 (In Millions) Gross Assets Accumulated Amortization Net Gross Assets Accumulated Amortization Net Developed technology $ 9,407 $ (3,801 ) $ 5,606 $ 9,611 $ (3,021 ) $ 6,590 Customer relationships and brands 2,160 (708 ) 1,452 2,179 (527 ) 1,652 Licensed technology and patents 2,975 (1,455 ) 1,520 2,932 (1,406 ) 1,526 In-process R&D 1,664 — 1,664 1,497 — 1,497 Other non-amortizing intangibles 585 — 585 571 — 571 Total identified intangible assets $ 16,791 $ (5,964 ) $ 10,827 $ 16,790 $ (4,954 ) $ 11,836 Amortization expenses recorded for identified intangible assets in the Consolidated Statements of Income for each period and the weighted average useful life were as follows: Years Ended (In Millions) Location Dec 28, Dec 29, Dec 30, Weighted Average Useful Life 1 Developed technology Cost of sales $ 1,124 $ 1,105 $ 912 9 years Customer relationships and brands Amortization of acquisition-related intangibles 200 200 177 11 years Licensed technology and patents Cost of sales 298 260 288 12 years Total amortization expenses $ 1,622 $ 1,565 $ 1,377 1 Represents weighted average useful life in years of intangible assets during 2019. We expect future amortization expense for the next five years and thereafter to be as follows: 2020 2021 2022 2023 2024 Thereafter Total Future amortization expenses $ 1,652 $ 1,567 $ 1,443 $ 1,344 $ 996 $ 1,576 $ 8,578 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 28, 2019 | |
Debt Disclosure [Abstract] | |
Borrowings [Text Block] | NOTE 14 : BORROWINGS SHORT-TERM DEBT As of December 28, 2019 , short-term debt was $3.7 billion , primarily comprised of our current portion of long-term debt. As of December 29, 2018 , short-term debt was $1.3 billion , comprised of $761 million current portion of long-term debt and $500 million commercial paper and drafts payable. Our current portion of long-term debt includes our 2009 Debentures, as well as debt classified as short-term based on contractual maturity. We have an ongoing authorization from our Board of Directors to borrow up to $10.0 billion under our commercial paper program. LONG-TERM DEBT Dec 28, Dec 29, (In Millions) Effective Interest Rate Amount Amount Floating-rate senior notes: Three-month LIBOR plus 0.08%, due May 2020 2.56% $ 700 $ 700 Three-month LIBOR plus 0.35%, due May 2022 2.82% 800 800 Fixed-rate senior notes: 3.25%, due December 2019 1 —% — 177 1.85%, due May 2020 1.89% 1,000 1,000 2.45%, due July 2020 2.49% 1,750 1,750 1.70%, due May 2021 1.79% 500 500 3.30%, due October 2021 3.71% 2,000 2,000 2.35%, due May 2022 2.74% 750 750 3.10%, due July 2022 3.50% 1,000 1,000 4.00%, due December 2022 1 2.97% 382 389 2.70%, due December 2022 3.09% 1,500 1,500 4.10%, due November 2023 3.22% 400 400 2.88%, due May 2024 3.07% 1,250 1,250 2.70%, due June 2024 2.84% 600 600 3.70%, due July 2025 4.44% 2,250 2,250 2.60%, due May 2026 2.91% 1,000 1,000 3.15%, due May 2027 3.48% 1,000 1,000 2.45%, due November 2029 2.48% 1,250 — 4.00%, due December 2032 3.56% 750 750 4.80%, due October 2041 4.31% 802 802 4.25%, due December 2042 3.74% 567 567 4.90%, due July 2045 4.41% 772 772 4.70%, due December 2045 —% — 915 4.10%, due May 2046 3.68% 1,250 1,250 4.10%, due May 2047 3.64% 1,000 1,000 4.10%, due August 2047 3.20% 640 640 3.73%, due December 2047 4.07% 1,967 1,967 3.25%, due November 2049 3.26% 1,500 — Oregon and Arizona bonds: 2.40% - 2.70%, due December 2035 - 2040 2.48% 423 423 5.00%, due March 2049 2.88% 138 — 5.00%, due June 2049 2.48% 438 — Junior subordinated convertible debentures: 3.25%, due August 2039 2 3.37% 372 988 Total senior notes and other borrowings 28,751 27,140 Unamortized premium/discount and issuance costs (529 ) (891 ) Hedge accounting fair value adjustments 781 (390 ) Long-term debt 29,003 25,859 Current portion of long-term debt (3,695 ) (761 ) Total long-term debt $ 25,308 $ 25,098 1 To manage foreign currency risk associated with the Australian-dollar-denominated notes issued in 2015, we entered into currency interest rate swaps with an aggregate notional amount of $577 million , which effectively converted these notes to U.S.-dollar-denominated notes. For further discussion on our currency interest rate swaps, see " Note 17: Derivative Financial Instruments ." Principal and unamortized discount/issuance costs for the Australian-dollar-denominated notes in the table above were calculated using foreign currency exchange rates as of December 28, 2019 and December 29, 2018 . 2 Effective interest rate for the year ended December 29, 2018 was 3.42% . The fair value of our convertible debentures is determined using discounted cash flow models with observable market inputs, and takes into consideration variables such as interest rate changes, comparable instruments, subordination discount, and credit-rating changes. As of December 28, 2019 and December 29, 2018 , the fair value of short- and long-term debt (excluding commercial paper and drafts payable) was $30.6 billion and $27.1 billion , respectively. These liabilities are classified as Level 2 within the fair value hierarchy, based on the nature of the fair value inputs. Senior Notes During 2019 , we issued a total of $2.8 billion aggregate principal amount of senior notes. Net proceeds from the offering are being used for general corporate purposes, which may include refinancing outstanding debt and repurchasing shares of our common stock. In 2019, we redeemed our $915 million , 4.70% senior notes due December 2045 . Our floating-rate senior notes pay interest quarterly and our fixed-rate senior notes pay interest semiannually. We may redeem the fixed-rate notes prior to their maturity at our option at specified redemption prices and subject to certain restrictions. The obligations under the notes rank equally in right of payment with all of our other existing and future senior unsecured indebtedness and will effectively rank junior to all liabilities of our subsidiaries. Oregon and Arizona Bonds In 2019 , we received proceeds of $648 million in aggregate from the sale of the 2019 Arizona Bonds and the 2019 Oregon Bonds. The bonds are our unsecured general obligations in accordance with loan agreements we entered into with the Industrial Development Authority of the City of Chandler, Arizona and the State of Oregon Business Development Commission. The bonds mature in 2049 and carry an interest rate of 5.00% . The 2019 Arizona Bonds and the 2019 Oregon Bonds are subject to mandatory tender in June 2024 and March 2022, respectively, at which time we can re-market the bonds as either fixed-rate bonds for a specified period or as variable-rate bonds until another fixed-rate period is selected or until their final maturity date. In 2018, we remarketed $423 million principal of the 2018 Arizona Bonds and the 2018 Oregon Bonds. The bonds are our unsecured general obligations in accordance with loan agreements we entered into with the Industrial Development Authority of the City of Chandler, Arizona and the State of Oregon Business Development Commission. The bonds mature between 2035 and 2040 and carry interest rates of 2.40% - 2.70% . Each series of the 2018 Arizona Bonds and the 2018 Oregon Bonds is subject to mandatory tender in August 2023, at which time we can remarket the bonds as either fixed-rate bonds for a specified period, or as variable-rate bonds until another fixed-rate period is selected or their final maturity date. Convertible Debentures In 2009, we issued the 2009 Debentures, which pay a fixed rate of interest semiannually. In 2019 , we paid $1.5 billion in cash to satisfy conversion obligations for $615 million in principal, resulting in a cumulative loss of $156 million in interest and other, net, and $1.0 billion as a reduction to stockholders' equity related to the conversion feature. The 2009 Debentures are convertible, subject to certain conditions. Holders can surrender the 2009 Debentures for conversion if the closing price of Intel common stock has been at least 130% of the conversion price then in effect for at least 20 trading days during the 30 consecutive trading-day period ending on the last trading day of the preceding fiscal quarter. We settle conversion of the 2009 Debentures in cash up to the face value, and any amount in excess of face value is settled in cash or stock at our option. As of August 5, 2019, we can redeem, for cash, all or part of the 2009 Debentures for the principal amount, plus any accrued and unpaid interest, if the closing price of Intel common stock has been at least 150% of the conversion price then in effect for at least 20 trading days during any 30 consecutive trading-day period. In November 2019, we issued a notice of redemption for the remaining $372 million of 2009 Debentures with a redemption date of January 9, 2020. During the fourth quarter of 2019 , the closing stock price conversion right condition of the 2009 Debentures continued to be met and therefore the debentures are convertible at the option of the holders until January 6, 2020, prior to our redemption. Our 2009 Debentures required settlement of the principal amount of the debt in cash upon conversion. As a result, the $217 million carrying amount of the 2009 Debentures was classified as short-term debt on our Consolidated Balance Sheet as of December 28, 2019 ( $569 million as of December 29, 2018 ). The excess of the amount required to be settled in cash if converted over the carrying amount of the 2009 Debentures of $155 million has been classified as temporary equity on our Consolidated Balance Sheet as of December 28, 2019 ( $419 million as of December 29, 2018 ). The 2009 Debentures are subordinated in right of payment to any existing and future senior debt and to the other liabilities of our subsidiaries. We have concluded that the 2009 Debentures are not conventional convertible debt instruments and that the embedded stock conversion options qualify as derivatives. In addition, we have concluded that the embedded conversion options would be classified in stockholders' equity if they were freestanding derivative instruments and are not accounted for separately as derivative liabilities. 2009 Debentures (In Millions, Except Per Share Amounts) Dec 28, Dec 29, Outstanding principal $ 372 $ 988 Unamortized discount 1 $ 155 $ 419 Net debt carrying amount $ 217 $ 569 Conversion rate (shares of common stock per $1,000 principal amount of debentures) 49.69 49.01 Effective conversion price (per share of common stock) $ 20.13 $ 20.40 1 The unamortized discounts for the 2009 Debentures are amortized over the remaining life of the debt. Debt Maturities Our aggregate debt maturities, excluding commercial paper and drafts payable, based on outstanding principal as of December 28, 2019 , by year payable, are as follows: (In Millions) 2020 2021 2022 2023 2024 2025 and thereafter Total $ 3,450 $ 2,500 $ 4,432 $ 400 $ 1,850 $ 16,119 $ 28,751 In the preceding table, the 2009 Debentures are classified based on their stated maturity date, regardless of their classification on the Consolidated Balance Sheet |
Fair Value
Fair Value | 12 Months Ended |
Dec. 28, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value [Text Block] | NOTE 15 : FAIR VALUE ASSETS AND LIABILITIES MEASURED AND RECORDED AT FAIR VALUE ON A RECURRING BASIS December 28, 2019 December 29, 2018 Fair Value Measured and Recorded at Reporting Date Using Total Fair Value Measured and Recorded at Reporting Date Using Total (In Millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Cash equivalents: Corporate debt $ — $ 713 $ — $ 713 $ — $ 262 $ — $ 262 Financial institution instruments 1 1,064 408 — 1,472 550 183 — 733 Reverse repurchase agreements — 1,500 — 1,500 — 1,850 — 1,850 Short-term investments: Corporate debt — 347 — 347 — 937 — 937 Financial institution instruments 1 — 724 — 724 — 1,423 — 1,423 Government debt 2 — 11 — 11 — 428 — 428 Trading assets: Corporate debt — 2,848 — 2,848 — 2,635 — 2,635 Financial institution instruments 1 87 1,578 — 1,665 67 1,273 — 1,340 Government debt 2 — 3,334 — 3,334 — 1,868 — 1,868 Other current assets: Derivative assets 50 230 — 280 — 180 — 180 Loans receivable 3 — — — — — 354 — 354 Marketable equity securities 450 — — 450 1,440 — — 1,440 Other long-term investments: Corporate debt — 1,898 — 1,898 — 1,843 — 1,843 Financial institution instruments 1 — 825 — 825 — 912 — 912 Government debt 2 — 553 — 553 — 633 — 633 Other long-term assets: Derivative assets — 690 16 706 — 100 — 100 Loans receivable 3 — 554 — 554 — 229 — 229 Total assets measured and recorded at fair value $ 1,651 $ 16,213 $ 16 $ 17,880 $ 2,057 $ 15,110 $ — $ 17,167 Liabilities Other accrued liabilities: Derivative liabilities $ 3 $ 287 $ — $ 290 $ — $ 412 $ — $ 412 Other long-term liabilities: Derivative liabilities — 13 — 13 — 415 68 483 Total liabilities measured and recorded at fair value $ 3 $ 300 $ — $ 303 $ — $ 827 $ 68 $ 895 1 Level 1 investments in financial institution instruments consist of money market funds. Level 2 investments consist primarily of commercial paper, certificates of deposit, time deposits, and notes and bonds issued by financial institutions. 2 Level 2 investments in government debt consist primarily of U.S. agency notes and non-U.S. government debt. 3 T he fair value of our loans receivable for which we elected the fair value option did not significantly differ from the contractual principal balance based on the contractual currency. ASSETS MEASURED AND RECORDED AT FAIR VALUE ON A NON-RECURRING BASIS Our non-marketable equity securities, equity method investments, and certain non-financial assets, such as intangible assets and property, plant and equipment, are recorded at fair value only if an impairment or observable price adjustment is recognized in the current period. If an impairment or observable price adjustment is recognized on our non-marketable equity securities during the period, we classify these assets as Level 3 within the fair value hierarchy based on the nature of the fair value inputs. We classified non-marketable equity securities and non-marketable equity method investments as Level 3. Impairments recognized on these investments held as of December 28, 2019 were $113 million ( $416 million held as of December 29, 2018 and $537 million held as of December 30, 2017 ). FINANCIAL INSTRUMENTS NOT RECORDED AT FAIR VALUE ON A RECURRING BASIS Financial instruments not recorded at fair value on a recurring basis include non-marketable equity securities and equity method investments that have not been remeasured or impaired in the current period, grants receivable, loans receivable, reverse repurchase agreements, and our short-term and long-term debt. As of December 28, 2019 , the aggregate carrying value of grants receivable, loans receivable, and reverse repurchase agreements was $543 million (the aggregate carrying amount as of December 29, 2018 was $833 million |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 28, 2019 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) [Text Block] | NOTE 16 : OTHER COMPREHENSIVE INCOME (LOSS) The changes in accumulated other comprehensive income (loss) by component and related tax effects for each period were as follows: (In Millions) Unrealized Holding Gains (Losses) on Available-for-Sale Equity Investments Unrealized Holding Gains (Losses) on Derivatives Actuarial Valuation and Other Pension Expenses Translation Adjustments and Other Total December 31, 2016 $ 2,179 $ (259 ) $ (1,280 ) $ (534 ) $ 106 Other comprehensive income (loss) before reclassifications 2,765 605 275 (2 ) 3,643 Amounts reclassified out of accumulated other comprehensive income (loss) (3,433 ) (69 ) 103 509 (2,890 ) Tax effects 234 (171 ) (61 ) 1 3 Other comprehensive income (loss) (434 ) 365 317 508 756 December 30, 2017 1,745 106 (963 ) (26 ) 862 Impact of change in accounting standards (1,745 ) 24 (65 ) (4 ) (1,790 ) Opening Balance as of December 31, 2017 — 130 (1,028 ) (30 ) (928 ) Other comprehensive income (loss) before reclassifications — (310 ) 157 (16 ) (169 ) Amounts reclassified out of accumulated other comprehensive income (loss) — 9 109 8 126 Tax effects — 48 (56 ) 5 (3 ) Other comprehensive income (loss) — (253 ) 210 (3 ) (46 ) December 29, 2018 — (123 ) (818 ) (33 ) (974 ) Other comprehensive income (loss) before reclassifications — (11 ) (753 ) 109 (655 ) Amounts reclassified out of accumulated other comprehensive income (loss) — 195 67 (6 ) 256 Tax effects — (7 ) 122 (22 ) 93 Other comprehensive income (loss) — 177 (564 ) 81 (306 ) December 28, 2019 $ — $ 54 $ (1,382 ) $ 48 $ (1,280 ) The amortization of pension and postretirement benefit components is included in the computation of net periodic benefit cost. For more information, see " Note 18: Retirement Benefit Plans ." During the second quarter of 2017, we reclassified $507 million (before taxes) of currency translation adjustment losses included in accumulated other comprehensive income (loss) into earnings as a result of our divestiture of ISecG. For more information, see " Note 11: Acquisitions and Divestitures |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 28, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments [Text Block] | NOTE 17 : DERIVATIVE FINANCIAL INSTRUMENTS VOLUME OF DERIVATIVE ACTIVITY Total gross notional amounts for outstanding derivatives (recorded at fair value) at the end of each period were as follows: (In Millions) Dec 28, Dec 29, Dec 30, Foreign currency contracts $ 23,981 $ 19,223 $ 19,958 Interest rate contracts 14,302 22,447 16,823 Other 1,753 1,356 1,636 Total $ 40,036 $ 43,026 $ 38,417 During 2019, we did not enter into any new pay variable or receive fixed interest rate swaps to hedge against changes in the fair value attributable to benchmark interest rates related to our outstanding senior notes. However, we entered into $7.1 billion of such swaps in 2018 and $4.8 billion in 2017. These hedges were designated as fair value hedges. The total notional amount of these swaps was $12.0 billion as of December 28, 2019 and $20.0 billion as of December 29, 2018 . During the third quarter of 2019 , we unwound $7.1 billion of swaps, resulting in a $111 million gain to be amortized over the remaining life of the debt. FAIR VALUE OF DERIVATIVE INSTRUMENTS IN THE CONSOLIDATED BALANCE SHEETS December 28, 2019 December 29, 2018 (In Millions) Assets 1 Liabilities 2 Assets 1 Liabilities 2 Derivatives designated as hedging instruments Foreign currency contracts 3 $ 56 $ 159 $ 44 $ 244 Interest rate contracts 690 9 84 474 Total derivatives designated as hedging instruments 746 168 128 718 Derivatives not designated as hedging instruments Foreign currency contracts 3 179 78 132 155 Interest rate contracts 11 54 20 22 Equity contracts 50 3 — — Total derivatives not designated as hedging instruments 240 135 152 177 Total derivatives $ 986 $ 303 $ 280 $ 895 1 Derivative assets are recorded as other assets, current and non-current. 2 Derivative liabilities are recorded as other liabilities, current and non-current. 3 The majority of these instruments mature within 12 months. AMOUNTS OFFSET IN THE CONSOLIDATED BALANCE SHEETS The gross amounts of our derivative instruments and reverse repurchase agreements subject to master netting arrangements with various counterparties, and cash and non-cash collateral posted under such agreements at the end of each period were as follows: December 28, 2019 Gross Amounts Not Offset in the Balance Sheet (In Millions) Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Cash and Non-Cash Collateral Received or Pledged Net Amount Assets: Derivative assets subject to master netting arrangements $ 974 $ — $ 974 $ (144 ) $ (808 ) $ 22 Reverse repurchase agreements 1,850 — 1,850 — (1,850 ) — Total assets 2,824 — 2,824 (144 ) (2,658 ) 22 Liabilities: Derivative liabilities subject to master netting arrangements 262 — 262 (144 ) (72 ) 46 Total liabilities $ 262 $ — $ 262 $ (144 ) $ (72 ) $ 46 December 29, 2018 Gross Amounts Not Offset in the Balance Sheet (In Millions) Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Cash and Non-Cash Collateral Received or Pledged Net Amount Assets: Derivative assets subject to master netting arrangements $ 292 $ — $ 292 $ (220 ) $ (72 ) $ — Reverse repurchase agreements 2,099 — 2,099 — (1,999 ) 100 Total assets 2,391 — 2,391 (220 ) (2,071 ) 100 Liabilities: Derivative liabilities subject to master netting arrangements 890 — 890 (220 ) (576 ) 94 Total liabilities $ 890 $ — $ 890 $ (220 ) $ (576 ) $ 94 We obtain and secure available collateral from counterparties against obligations, including securities lending transactions and reverse repurchase agreements, when we deem it appropriate. DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS The before-tax net gains or losses attributed to the effective portion of cash flow hedges recognized in other comprehensive income (loss) were $11 million net losses in 2019 ( $310 million net losses in 2018 and $605 million net gains in 2017 ). Substantially all of our cash flow hedges are foreign currency contracts for all periods presented. Amounts excluded from effectiveness testing were insignificant during all periods presented. For information on the unrealized holding gains (losses) on derivatives reclassified out of accumulated other comprehensive income into the Consolidated Statements of Income, see " Note 16: Other Comprehensive Income (Loss) ." DERIVATIVES IN FAIR VALUE HEDGING RELATIONSHIPS The effects of derivative instruments designated as fair value hedges, recognized in interest and other, net for each period were as follows: Gains (Losses) Recognized in Statement of Income on Derivatives Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Interest rate contracts $ 1,071 $ (138 ) $ (68 ) Hedged items (1,071 ) 138 68 Total $ — $ — $ — The amounts recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges for each period were as follows: Line Item in the Consolidated Balance Sheet in Which the Hedged Item Is Included Carrying Amount of the Hedged Item Asset/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount Assets/(Liabilities) Years Ended Dec 28, Dec 29, Dec 28, Dec 29, Long-term debt $ (12,678 ) $ (19,622 ) $ (681 ) $ 390 DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS The effects of derivative instruments not designated as hedging instruments on the Consolidated Statements of Income for each period were as follows: Years Ended (In Millions) Location of Gains (Losses) Recognized in Income on Derivatives Dec 28, Dec 29, Dec 30, Foreign currency contracts Interest and other, net $ 204 $ 372 $ (547 ) Interest rate contracts Interest and other, net (32 ) 9 9 Other Various 297 (147 ) 203 Total $ 469 $ 234 $ (335 ) |
Retirement Benefit Plans
Retirement Benefit Plans | 12 Months Ended |
Dec. 28, 2019 | |
Retirement Benefits [Abstract] | |
Retirement Benefit Plans [Text Block] | NOTE 18 : RETIREMENT BENEFIT PLANS DEFINED CONTRIBUTION PLANS We provide tax-qualified defined contribution plans for the benefit of eligible employees, former employees, and retirees in the U.S. and certain other countries. The plans are designed to provide employees with an accumulation of funds for retirement on a tax-deferred basis. For the benefit of eligible U.S. employees, we also provide an unfunded non-tax-qualified supplemental deferred compensation plan for certain highly compensated employees. We expensed $379 million for discretionary contributions to the U.S. qualified defined contribution and non-qualified deferred compensation plans in 2019 ( $372 million in 2018 and $346 million in 2017 ). U.S. RETIREE MEDICAL PLAN Upon retirement, we provide benefits to eligible U.S. employees who were hired prior to 2014 under the U.S. Retiree Medical Plan. The benefits can be used to pay all or a portion of the cost to purchase eligible coverage in a medical plan. As of December 28, 2019 and December 29, 2018 , the projected benefit obligation was $633 million and $547 million , respectively, which used the discount rate of 3.3% and 4.4% , respectively. The December 28, 2019 and December 29, 2018 corresponding fair value of plan assets was $553 million and $476 million , respectively. The investment strategy for U.S. Retiree Medical Plan assets is to invest primarily in liquid assets, due to the level of expected future benefit payments. The assets are invested solely in a tax-aware global equity portfolio, which is actively managed by an external investment manager. The tax-aware global equity portfolio is composed of a diversified mix of equities in developed countries. As of December 28, 2019 , substantially all of the U.S. Retiree Medical Plan assets were invested in exchange-traded equity securities and were measured at fair value using Level 1 inputs. The estimated benefit payments for this plan over the next 10 years are as follows: (In Millions) 2020 2021 2022 2023 2024 2025-2029 Postretirement Medical Benefits $ 28 $ 30 $ 31 $ 32 $ 34 $ 183 PENSION BENEFIT PLANS We provide defined-benefit pension plans in certain countries, most significantly the U.S., Ireland, Germany, and Israel. The substantial majority of the plans' benefits have been frozen and beginning on January 1, 2020, future benefit accruals for the U.S. Pension Plan will be frozen to remaining eligible employees, which reduced our projected benefit obligation by $150 million at December 29, 2018. BENEFIT OBLIGATION AND PLAN ASSETS FOR PENSION BENEFIT PLANS The vested benefit obligation for a defined-benefit pension plan is the actuarial present value of the vested benefits to which the employee is currently entitled based on the employee's expected date of separation or retirement. Dec 28, Dec 29, Changes in projected benefit obligation: Beginning projected benefit obligation $ 3,433 $ 3,842 Service cost 54 65 Interest cost 113 113 Actuarial (gain) loss 829 (204 ) Currency exchange rate changes (2 ) (121 ) Plan curtailments — (150 ) Plan settlements (57 ) (74 ) Other (86 ) (38 ) Ending projected benefit obligation 1 4,284 3,433 Changes in fair value of plan assets: Beginning fair value of plan assets 2,551 2,287 Actual return on plan assets 193 (38 ) Employer contributions 30 480 Currency exchange rate changes 3 (62 ) Plan settlements (57 ) (74 ) Other (66 ) (42 ) Ending fair value of plan assets 2 2,654 2,551 Net funded status $ 1,630 $ 882 Amounts recognized in the Consolidated Balance Sheets Other long-term assets $ — $ 244 Other long-term liabilities $ 1,630 $ 1,126 Accumulated other comprehensive loss (income), before tax 3 $ 1,730 $ 1,038 1 The projected benefit obligation was approximately 35% in the U.S. and 65% outside of the U.S. as of December 28, 2019 and December 29, 2018 . 2 The fair value of plan assets was approximately 55% in the U.S. and 45% outside of the U.S. as of December 28, 2019 and December 29, 2018 . 3 The accumulated other comprehensive loss (income), before tax, was approximately 35% in the U.S. and 65% outside of the U.S. as of December 28, 2019 and December 29, 2018 . Changes in actuarial gains and losses in the projected benefit obligation are generally driven by discount rate movement. We use the corridor approach to amortize actuarial gains and losses. Under this approach, net actuarial gains or losses in excess of 10% of the larger of the projected benefit obligation or the fair value of plan assets are amortized on a straight-line basis. As of December 28, 2019 , all plans had accumulated benefit obligations and projected benefit obligations in excess of plan assets. As of December 29, 2018 , the accumulated benefit obligations were $1.2 billion and $2.0 billion for the U.S. Pension Plan and non-U.S. plans, respectively. In 2018, the U.S. Pension Plan was in the net asset position and all non-U.S. plans had accumulated benefit obligations and projected benefit obligations in excess of plan assets. Dec 28, Dec 29, Plans with accumulated benefit obligation in excess of plan assets Accumulated benefit obligation $ 3,862 $ 1,965 Plan assets $ 2,654 $ 1,106 Plans with projected benefit obligation in excess of plan assets Projected benefit obligation $ 4,284 $ 2,232 Plan assets $ 2,654 $ 1,106 ASSUMPTIONS FOR PENSION BENEFIT PLANS Dec 28, Dec 29, Weighted average actuarial assumptions used to determine benefit obligations Discount rate 2.3 % 3.3 % Rate of compensation increase 3.5 % 3.5 % 2019 2018 2017 Weighted average actuarial assumptions used to determine costs Discount rate 3.4 % 3.0 % 3.2 % Expected long-term rate of return on plan assets 4.7 % 4.7 % 4.6 % Rate of compensation increase 3.5 % 3.3 % 3.6 % We establish the discount rate for each pension plan by analyzing current market long-term bond rates and matching the bond maturity with the average duration of the pension liabilities. We establish the long-term expected rate of return by developing a forward-looking, long-term return assumption for each pension fund asset class, taking into account factors such as the expected real return for the specific asset class and inflation. A single, long-term rate of return is then calculated as the weighted average of the target asset allocation percentages and the long-term return assumption for each asset class. FUNDING Policy. Our practice is to fund the various pension plans in amounts sufficient to meet the minimum requirements of applicable local laws and regulations. Additional funding may be provided as deemed appropriate. Funding for the U.S. Retiree Medical Plan is discretionary under applicable laws and regulations; additional funding may be provided as deemed appropriate. Funding Status. On a worldwide basis, our pension and retiree medical plans were 65% funded as of December 28, 2019 . The U.S. Pension Plan, which accounts for 32% of the worldwide pension and retiree medical benefit obligations, was 96% funded. Funded status is not indicative of our ability to pay ongoing pension benefits or of our obligation to fund retirement trusts. Required pension funding for U.S. retirement plans is determined in accordance with ERISA, which sets required minimum contributions. Cumulative company funding to the U.S. Pension Plan currently exceeds the minimum ERISA funding requirements. NET PERIODIC BENEFIT COST The net periodic benefit cost for pension and U.S. retiree medical benefits was $135 million in 2019 ( $197 million in 2018 and $243 million in 2017 ). PENSION PLAN ASSETS December 28, 2019 Dec 29, Fair Value Measured at Reporting Date Using (In Millions) Level 1 Level 2 Level 3 Total Total Equity securities $ — $ 278 $ — $ 278 $ 261 Fixed income — 99 20 119 111 Assets measured by fair value hierarchy $ — $ 377 $ 20 $ 397 $ 372 Assets measured at net asset value 2,236 2,138 Cash and cash equivalents 21 41 Total pension plan assets at fair value $ 2,654 $ 2,551 U.S. Plan Assets The investment strategy for U.S. Pension Plan assets is to manage the funded status volatility, taking into consideration the investment horizon and expected volatility to help ensure that sufficient assets are available to pay pension benefits as they come due. The allocation to each asset class will fluctuate with market conditions, such as volatility and liquidity concerns, and will typically be rebalanced when outside the target ranges, which are approximately 90% fixed income and 10% equity investments. During 2019, the U.S. Pension Plan assets were invested in collective investment trust funds, which are measured at net asset value. Non-U.S. Plan Assets The investments of the non-U.S. plans are managed by insurance companies, pension funds, or third-party trustees, consistent with regulations or market practice of the country where the assets are invested. The investment manager makes investment decisions within the guidelines set by Intel or local regulations. Investments managed by qualified insurance companies or pension funds under standard contracts follow local regulations, and we are not actively involved in their investment strategies. For the assets that we have discretion to set investment guidelines, the assets are invested in developed country equity investments and fixed-income investments, either through index funds or direct investment. In general, the investment strategy is designed to accumulate a diversified portfolio among markets, asset classes, or individual securities to reduce market risk and to help ensure that the pension assets are available to pay benefits as they come due. The target allocation of the non-U.S. plan assets that we have control over was approximately 45% fixed income, 35% equity, and 20% hedge fund investments in 2019. The equity investments in the non-U.S. plan assets are invested in a diversified mix of equities of developed countries, including the U.S., and emerging markets throughout the world. We have control over the investment strategy related to the majority of the assets measured at net asset value, which are invested in hedge funds, bond index funds, and equity index funds. ESTIMATED FUTURE BENEFIT PAYMENTS FOR PENSION BENEFIT PLANS Estimated benefit payments over the next 10 years are as follows: (In Millions) 2020 2021 2022 2023 2024 2025-2029 Pension benefits $ 151 $ 145 $ 139 $ 135 $ 132 $ 694 |
Employee Equity Incentive Plans
Employee Equity Incentive Plans | 12 Months Ended |
Dec. 28, 2019 | |
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Employee Equity Incentive Plans [Text Block] | NOTE 19 : EMPLOYEE EQUITY INCENTIVE PLANS Our equity incentive plans are broad-based, long-term programs intended to attract and retain talented employees and align stockholder and employee interests. Our plans include our 2006 Plan and our 2006 ESPP. Under the 2006 Plan, 866 million shares of common stock have been authorized for issuance as equity awards to employees and non-employee directors through June 2023. As of December 28, 2019 , 228 million shares of common stock remained available for future grant s. Under the 2006 Plan, we grant RSUs and stock options. We grant RSUs with a service condition as well as RSUs with a market condition, performance condition, and a service condition, which we call PSUs. Prior to granting PSUs, we granted OSUs, which were RSUs with only market and service conditions. PSUs are granted to a group of senior officers and employees. For PSUs granted in 2019 , the number of shares of our common stock to be received at vesting will range from 0% to 200% of the target grant amount, equally based on two metrics: our three-year cumulative non-GAAP EPS growth relative to a target rate and TSR of our common stock measured against the benchmark TSR of the S&P 500 IT Sector Index over a three -year period. TSR is a measure of stock price appreciation plus any dividends paid in this performance period. As of December 28, 2019 , 13 million PSUs and OSUs were outstanding. The PSUs granted in 2019 vest three years from the grant date, and OSUs, which were granted prior to 2019, generally vest three years and one month from the grant date. Other RSU awards and option awards generally vest over four years from the grant date. Stock options generally expire ten years from the date of grant. SHARE-BASED COMPENSATION Share-based compensation recognized in 2019 was $1.7 billion ( $1.5 billion in 2018 and $1.4 billion in 2017). During 2019 , the tax benefit that we realized for the tax deduction from share-based awards totaled $359 million ( $399 million in 2018 and $520 million in 2017 ). We estimate the fair value of RSUs with a service condition or performance condition using the value of our common stock on the date of grant, reduced by the present value of dividends expected to be paid on our shares of common stock prior to vesting. We estimate the fair value of RSUs with a market condition using a Monte Carlo simulation model on the date of grant using historical volatility. RESTRICTED STOCK UNITS Weighted average assumptions used in estimating grant values were as follows: Dec 28, Dec 29, Dec 30, Estimated values $ 48.06 $ 48.95 $ 35.30 Risk-free interest rate 2.3 % 2.4 % 1.4 % Dividend yield 2.5 % 2.4 % 2.9 % Volatility 25 % 22 % 23 % Summary of activities: Number of Stock Units (In Millions) Weighted Average Grant-Date Fair Value December 29, 2018 89.9 $ 39.07 Granted 37.6 $ 48.06 Vested (35.2 ) $ 36.51 Forfeited (8.2 ) $ 42.20 December 28, 2019 84.1 $ 43.86 Expected to vest 79.8 $ 43.72 The aggregate fair value of awards that vested in 2019 was $1.9 billion ( $2.0 billion in 2018 and $1.6 billion in 2017 ), which represents the market value of our common stock on the date that the RSUs vested. The grant-date fair value of awards that vested in 2019 was $1.3 billion ( $1.2 billion in 2018 and $1.1 billion in 2017 ). The number of RSUs vested includes shares of common stock that we withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. RSUs that are expected to vest are net of estimated future forfeitures. As of December 28, 2019 , unrecognized compensation costs related to RSUs granted under our equity incentive plans were $2.1 billion . We expect to recognize those costs over a weighted average period of 1.3 years. STOCK PURCHASE PLAN The 2006 ESPP allows eligible employees to purchase shares of our common stock at 85% of the value of our common stock on specific dates. Under the 2006 ESPP, 373 million shares of common stock are authorized for issuance through August 2021. As of December 28, 2019 , 119 million shares of common stock remained available for issuance. Employees purchased 17.1 million shares of common stock in 2019 for $688 million under the 2006 ESPP ( 13.7 million shares of common stock for $468 million in 2018 and 14.5 million shares of common stock for $432 million in 2017 ). As of December 28, 2019 , unrecognized share-based compensation costs related to rights to acquire shares of common stock under the 2006 ESPP totaled $42 million . We expect to recognize those costs over a period of approximately two months . |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 28, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 20 : COMMITMENTS AND CONTINGENCIES COMMITMENTS Commitments for construction or purchase of property, plant and equipment totaled $10.9 billion as of December 28, 2019 ( $9.0 billion as of December 29, 2018 ), a substantial majority of which will be due within the next 12 months. Other purchase obligations and commitments totaled approximately $2.8 billion as of December 28, 2019 (approximately $3.2 billion as of December 29, 2018 ). Other purchase obligations and commitments include payments due under various types of licenses and agreements to purchase goods or services. For further information on our lease commitments, see " Note 3: Recent Accounting Standards ." LEGAL PROCEEDINGS We are a party to various legal proceedings, including those noted in this section. Although management at present believes that the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm our financial position, results of operations, cash flows, or overall trends, legal proceedings and related government investigations are subject to inherent uncertainties, and unfavorable rulings or other events could occur. Unfavorable resolutions could include substantial monetary damages. In addition, in matters for which injunctive relief or other conduct remedies are sought, unfavorable resolutions could include an injunction or other order prohibiting us from selling one or more products at all or in particular ways, precluding particular business practices, or requiring other remedies. An unfavorable outcome may result in a material adverse impact on our business, results of operations, financial position, and overall trends. We might also conclude that settling one or more such matters is in the best interests of our stockholders, employees, and customers, and any such settlement could include substantial payments. Except as specifically described below, we have not concluded that settlement of any of the legal proceedings noted in this section is appropriate at this time. European Commission Competition Matter In 2001, the EC commenced an investigation regarding claims by Advanced Micro Devices, Inc. (AMD) that we used unfair business practices to persuade customers to buy our microprocessors. We received numerous requests for information and documents from the EC and we responded to each of those requests. The EC issued a Statement of Objections in July 2007 and held a hearing on that Statement in March 2008. The EC issued a Supplemental Statement of Objections in July 2008. In May 2009, the EC issued a decision finding that we had violated Article 82 of the EC Treaty and Article 54 of the European Economic Area Agreement. In general, the EC found that we violated Article 82 (later renumbered as Article 102 by a new treaty) by offering alleged "conditional rebates and payments" that required our customers to purchase all or most of their x86 microprocessors from us. The EC also found that we violated Article 82 by making alleged "payments to prevent sales of specific rival products." The EC imposed a fine in the amount of €1.1 billion ( $1.4 billion as of May 2009), which we subsequently paid during the third quarter of 2009, and ordered us to "immediately bring to an end the infringement referred to in" the EC decision. The EC decision contained no specific direction on whether or how we should modify our business practices. Instead, the decision stated that we should "cease and desist" from further conduct that, in the EC's opinion, would violate applicable law. We took steps, which are subject to the EC's ongoing review, to comply with that decision pending appeal. We had discussions with the EC to better understand the decision and to explain changes to our business practices. We appealed the EC decision to the Court of First Instance (which has been renamed the General Court) in July 2009. The hearing of our appeal took place in July 2012. In June 2014, the General Court rejected our appeal in its entirety. In August 2014, we filed an appeal with the European Court of Justice. In November 2014, Intervener Association for Competitive Technologies filed comments in support of Intel’s grounds of appeal. The EC and interveners filed briefs in November 2014, we filed a reply in February 2015, and the EC filed a rejoinder in April 2015. The Court of Justice held oral argument in June 2016. In October 2016, Advocate General Wahl, an advisor to the Court of Justice, issued a non-binding advisory opinion that favored Intel on a number of grounds. The Court of Justice issued its decision in September 2017, setting aside the judgment of the General Court and sending the case back to the General Court to examine whether the rebates at issue were capable of restricting competition. The General Court has appointed a panel of five judges to consider our appeal of the EC’s 2009 decision in light of the Court of Justice’s clarifications of the law. In November 2017, the parties filed initial “Observations” about the Court of Justice’s decision and the appeal, and were invited by the General Court to offer supplemental comments to each other’s “Observations,” which the parties submitted in March 2018. Responses to other questions posed by the General Court were filed in May and June 2018. The General Court has scheduled oral argument for March 2020. Pending the final decision in this matter, the fine paid by Intel has been placed by the EC in commercial bank accounts where it accrues interest. Litigation Related to Security Vulnerabilities In June 2017, a Google research team notified us and other companies that it had identified security vulnerabilities (now commonly referred to as “Spectre” and “Meltdown”) that affect many types of microprocessors, including our products. As is standard when findings like these are presented, we worked together with other companies in the industry to verify the research, and develop and validate software and firmware updates for impacted technologies. On January 3, 2018, information on the security vulnerabilities was publicly reported, before software and firmware updates to address the vulnerabilities were made widely available. Numerous lawsuits relating to the Spectre and Meltdown security vulnerabilities, as well as another variant of these vulnerabilities (“Foreshadow”) that has since been identified, have been filed against Intel and, in certain cases, our current and former executives and directors, in U.S. federal and state courts and in certain courts in other countries. As of January 22, 2020 , consumer class action lawsuits relating to certain security vulnerabilities publicly disclosed in 2018 were pending in the U.S., Canada, and Israel. The plaintiffs, who purport to represent various classes of purchasers of our products, generally claim to have been harmed by Intel's actions and/or omissions in connection with the security vulnerabilities and assert a variety of common law and statutory claims seeking monetary damages and equitable relief. In the U.S., numerous individual class action suits filed in various jurisdictions were consolidated in April 2018 for all pretrial proceedings in the U.S. District Court for the District of Oregon. Intel filed a motion to dismiss that consolidated action in October 2018, and a hearing on that motion was held in February 2019. In Canada, in one case pending in the Superior Court of Justice of Ontario, an initial status conference has not yet been scheduled. In a second case pending in the Superior Court of Justice of Quebec, the court has stayed the case until April 2020. In Israel, both consumer class action lawsuits were filed in the District Court of Haifa. In the first case, the District Court denied the parties' joint motion to stay filed in January 2019, but to date has deferred Intel's deadline to respond to the complaint in view of Intel's pending motion to dismiss in the consolidated proceeding in the U.S. Intel filed a motion to stay the second case pending resolution of the consolidated proceeding in the U.S., and a hearing on that motion has been scheduled for May 2020. Additional lawsuits and claims may be asserted seeking monetary damages or other related relief. We dispute the pending claims described above and intend to defend those lawsuits vigorously. Given the procedural posture and the nature of those cases, including that the pending proceedings are in the early stages, that alleged damages have not been specified, that uncertainty exists as to the likelihood of a class or classes being certified or the ultimate size of any class or classes if certified, and that there are significant factual and legal issues to be resolved, we are unable to make a reasonable estimate of the potential loss or range of losses, if any, that might arise from those matters. In addition to these lawsuits, Intel stockholders have filed multiple shareholder derivative lawsuits since January 2018 against certain current and former members of our Board of Directors and certain current and former officers, alleging that the defendants breached their duties to Intel in connection with the disclosure of the security vulnerabilities and the failure to take action in relation to alleged insider trading. The complaints seek to recover damages from the defendants on behalf of Intel. Some of the derivative actions were filed in the U.S. District Court for the Northern District of California and were consolidated, and the others were filed in the Superior Court of the State of California in San Mateo County and were consolidated. The federal court granted defendants' motion to dismiss the consolidated complaint in the federal action in August 2018 on the ground that plaintiffs failed to plead facts sufficient to show they were excused from making a pre-lawsuit demand on the Board. The federal court granted plaintiffs leave to amend their complaint, but subsequently dismissed the cases without prejudice in January 2019 at plaintiffs' request. In August 2018, the California Superior Court granted defendants' motion to dismiss the consolidated complaint in the state court action on the ground that plaintiffs failed to plead facts sufficient to show they were excused from making a pre-lawsuit demand on the Board, but granted plaintiffs leave to amend. In July 2019, the California Superior Court dismissed plaintiffs' amended complaint on the same grounds as the previous complaint, but again granted plaintiffs leave to amend. In November 2019, the California Superior Court dismissed plaintiffs' second amended complaint on the same grounds as the two previous complaints, but again granted plaintiffs leave to amend. Defendants' motion to dismiss plaintiffs' third amended complaint is scheduled for hearing in March 2020. |
Accounting Policies (Policies)
Accounting Policies (Policies) | 12 Months Ended |
Dec. 28, 2019 | |
Accounting Policies [Abstract] | |
Revenue Recognition [Policy Text Block] | REVENUE RECOGNITION We recognize net product revenue when we satisfy performance obligations as evidenced by the transfer of control of our products or services to customers. Substantially all of our revenue is derived from product sales. In accordance with contract terms, revenue for product sales is recognized at the time of product shipment from our facilities or delivery to the customer location, as determined by the agreed upon shipping terms. Prior to 2018, we deferred product revenue and related costs of sales on sales made to distributors that allowed for price protections or right of return until the distributor sold through the merchandise. We include shipping charges billed to customers in net revenue, and include the related shipping costs in cost of sales. We measure revenue based on the amount of consideration we expect to be entitled to in exchange for products or services. Variable consideration is estimated and reflected as an adjustment to the transaction price. We determine variable consideration, which consists primarily of various sales price concessions, by estimating the most likely amount of consideration we expect to receive from the customer based on historical analysis of customer purchase volumes. Sales rebates earned by customers are offset against their receivable balances. Rebates earned by customers when they do not have outstanding receivable balances are recorded within other accrued liabilities. The impacts of distributor sales price reductions resulting from price protection agreements are also estimated based on historical analysis of such activity and are reflected as a reduction in net revenue. We make payments to our customers through cooperative advertising programs for marketing activities for certain of our products. We generally record the payment as a reduction in revenue in the period that the revenue is earned, unless the payment is for a distinct service, which we record as expense when the marketing activities occur. During the second half of 2017, we transitioned customers from previous offerings under the Intel Inside ® |
Inventories [Policy Text Block] | INVENTORIES We compute inventory cost on a first-in, first-out basis. Our process and product development life cycle corresponds with substantive engineering milestones. These engineering milestones are regularly and consistently applied in assessing the point at which our activities and associated costs change in nature from R&D to cost of sales, and when cost of sales can be capitalized as inventory. For a product to be manufactured in high volumes and sold to our customers under our standard warranty, it must meet our rigorous technical quality specifications. This milestone is known as PRQ. We have identified PRQ as the point at which the costs incurred to manufacture our products are included in the valuation of inventory. Prior to PRQ, costs that do not meet the criteria for R&D are included in cost of sales in the period incurred. A single PRQ has previously ranged up to $870 million for our high-volume products. The valuation of inventory includes determining which fixed production overhead costs can be included in inventory based on the normal capacity of our manufacturing and assembly and test facilities. We apply our historical loadings compared to our total available capacity in a statistical model to determine our normal capacity level. If the factory loadings are below the established normal capacity level, a portion of our fixed production overhead costs would not be included in the cost of inventory; instead, it would be recognized as cost of sales in that period. We refer to these costs as excess capacity charges. Excess capacity charges are insignificant in the years presented. Charges in years prior to those presented have ranged up to $1.1 billion taken in connection with the 2009 economic recession. Inventory is valued at the lower of cost or net realizable value, based upon assumptions about future demand and market conditions. Product-specific facts and circumstances reviewed in the inventory valuation process include a review of our customer base, the stage of the product life cycle, variations in market pricing, and an assessment of selling price in relation to product cost. Lower of cost or net realizable value inventory reserves fluctuate as we ramp new process technologies with costs improving over time due to scale and improved yields. Additionally, inventory valuation is impacted by cyclical changes in market conditions and the associated pricing environment. The valuation of inventory also requires us to estimate obsolete and excess inventory, as well as inventory that is not of salable quality. We use the demand forecast to develop our short-term manufacturing plans to enable consistency between inventory valuations and build decisions. For certain new products, we have limited historical data when developing these demand forecasts. We compare the estimate of future demand to work in process and finished goods inventory levels to determine the amount, if any, of obsolete or excess inventory. When our demand forecast for specific products is greater than actual demand and we fail to reduce manufacturing output accordingly, we are required to write off inventory. |
Property, Plant and Equipment [Policy Text Block] | PROPERTY, PLANT AND EQUIPMENT We compute depreciation using the straight-line method over the estimated useful life of assets. We also capitalize interest on borrowings related to eligible capital expenditures. Capitalized interest is added to the cost of qualified assets and depreciated together with that asset cost. We record capital-related government grants earned as a reduction to property, plant and equipment. We evaluate the period over which we expect to recover the economic value of our property, plant and equipment, considering factors such as the process technology cadence between node transitions, changes in machinery and equipment technology, and re-use of machinery and tools across each generation of process technology. As we make manufacturing process conversions and other factory planning decisions, we use assumptions involving the use of management judgments regarding the remaining useful lives of assets, primarily process-specific semiconductor manufacturing tools and building improvements. When we determine that the useful lives of assets are shorter or longer than we had originally estimated, we adjust the rate of depreciation to reflect the assets’ revised useful lives. Assets are “grouped” and evaluated for impairment at the lowest level of identifiable cash flows. We assess property, plant and equipment for impairment when events or changes in circumstances indicate that the carrying value of the assets or the asset grouping may not be recoverable. Factors that we consider in deciding when to perform an impairment review include significant under-performance of a business or product line in relation to expectations, significant negative industry or economic trends, and significant changes or planned changes in our use of the assets. We measure the recoverability of assets that we will continue to use in our operations by comparing the carrying value of the asset grouping to our estimate of the related total future undiscounted net cash flows arising from the use of that asset grouping. If an asset grouping carrying value is not recoverable through the related undiscounted cash flows, the asset grouping is considered to be impaired. We measure the impairment by comparing the difference between the asset grouping carrying value and its fair value. |
Fair Value [Policy Text Block] | FAIR VALUE When determining fair value, we consider the principal or most advantageous market in which we would transact, as well as assumptions that market participants would use when pricing the asset or liability. Our financial assets are measured and recorded at fair value on a recurring basis, except for equity securities measured using the measurement alternative, equity method investments, cost method loans receivable, grants receivable, and reverse repurchase agreements with original maturities greater than three months. We assess fair value hierarchy levels for our issued debt and fixed-income investment portfolio based on the underlying instrument type. The three levels of inputs that may be used to measure fair value are: • Level 1. Quoted prices in active markets for identical assets or liabilities. We evaluate security-specific market data when determining whether a market is active. • Level 2. Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in less active markets, or model-derived valuations. All significant inputs used in our valuations, such as discounted cash flows, are observable or can be derived principally from or corroborated with observable market data for substantially the full term of the assets or liabilities. We use LIBOR-based yield curves, overnight indexed swap curve, currency spot and forward rates, and credit ratings as significant inputs in our valuations. Level 2 inputs also include non-binding market consensus prices, as well as quoted prices that were adjusted for security-specific restrictions. When we use non-binding market consensus prices, we corroborate them with quoted market prices for similar instruments or compare them to output from internally developed pricing models such as discounted cash flow models. • Level 3. Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. We monitor and review the inputs and results of these valuation models to help ensure the fair value measurements are reasonable and consistent with market experience in similar asset classes. Level 3 inputs also include non-binding market consensus prices or non-binding broker quotes that we were unable to corroborate with observable market data. |
Cash Equivalents [Policy Text Block] | Cash equivalents can include investments such as corporate debt, financial institution instruments, government debt, and reverse repurchase agreements. |
Available-for-Sale Investments [Policy Text Block] | DEBT INVESTMENTS We consider all highly liquid debt investments with original maturities from the date of purchase of three months or less as cash equivalents. Cash equivalents can include investments such as corporate debt, financial institution instruments, government debt, and reverse repurchase agreements. Marketable debt investments are generally designated as trading assets when a market risk is economically hedged at inception with a related derivative instrument, or when the marketable debt investment itself is used to economically hedge currency exchange rate risk from remeasurement. Investments designated as trading assets are reported at fair value. Gains or losses on these investments arising from changes in fair value due to interest rate and currency market fluctuations and credit market volatility, largely offset by losses or gains on the related derivative instruments and balance sheet remeasurement, are recorded in interest and other, net. Marketable debt investments are considered available-for-sale investments when the interest rate and foreign currency risks are not hedged at the inception of the investment or when our criteria for designation as trading assets are not met. Available-for-sale debt investments with original maturities of approximately three months or less from the date of purchase are classified within cash and cash equivalents. Available-for-sale debt investments with original maturities at the date of purchase greater than approximately three months and remaining maturities of less than one year are classified as short-term investments. Available-for-sale debt investments with remaining maturities beyond one year are classified as other long-term investments. Available-for-sale debt investments are reported at fair value, with unrealized gains or losses, net of tax, recorded in accumulated other comprehensive income (loss). We determine the cost of the investment sold based on an average cost basis at the individual security level, and record the interest income and realized gains or losses on the sale of these investments in interest and other, net. Our available-for-sale debt investments are subject to periodic impairment reviews. For these investments, we consider whether it is more likely than not that we will be required to sell the investment before recovery of its amortized cost basis, or whether recovery of the entire amortized cost basis of the investment is unlikely because a credit loss exists. When we do not expect to recover the entire amortized cost basis of the investment, we separate other-than-temporary impairments into amounts representing credit losses, which are recognized in interest and other, net, and amounts not related to credit losses, which are recognized in other comprehensive income (loss). |
Non-Marketable and Other Equity Investments [Policy Text Block] | EQUITY INVESTMENTS We regularly invest in equity securities of public and private companies to promote business and strategic objectives. Equity investments are measured and recorded as follows: • Marketable equity securities are equity securities with RDFV that are measured and recorded at fair value on a recurring basis with changes in fair value, whether realized or unrealized, recorded through the income statement. Prior to 2018, these securities were classified as available-for-sale securities and measured and recorded at fair value with unrealized changes in fair value recorded through other comprehensive income. • Non-marketable equity securities are equity securities without RDFV that are measured and recorded using a measurement alternative that measures the securities at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes. Prior to fiscal 2018, these securities were accounted for using the cost method of accounting, measured at cost less other-than-temporary impairment. • Equity method investments are equity securities in investees we do not control but over which we have the ability to exercise significant influence. Equity method investments are measured at cost minus impairment, if any, plus or minus our share of equity method investee income or loss. Our proportionate share of the income or loss from equity method investments is recognized on a one-quarter lag. Realized and unrealized gains and losses resulting from changes in fair value or the sale of our equity investments are recorded in gains (losses) on equity investments, net. Prior to 2018, we recorded unrealized gains and losses through other comprehensive income (loss) and realized gains and losses on the sale, exchange, or impairment of these equity investments through gains (losses) on equity investments, net. The carrying value of our non-marketable equity securities is adjusted for qualifying observable price changes resulting from the issuance of similar or identical securities by the same issuer. Determining whether an observed transaction is similar to a security within our portfolio requires judgment based on the rights and preferences of the securities. Recording upward and downward adjustments to the carrying value of our equity securities as a result of observable price changes requires quantitative assessments of the fair value of our securities using various valuation methodologies and involves the use of estimates. Non-marketable equity securities and equity method investments (collectively referred to as non-marketable equity investments) are also subject to periodic impairment reviews. Our quarterly impairment analysis considers both qualitative and quantitative factors that may have a significant impact on the investee's fair value. Qualitative factors considered include the investee's financial condition and business outlook, industry and sector performance, market for technology, operational and financing cash flow activities, and other relevant events and factors affecting the investee. When indicators of impairment exist, we prepare quantitative assessments of the fair value of our non-marketable equity investments using both the market and income approaches, which require judgment and the use of estimates, including discount rates, investee revenue and costs, and comparable market data of private and public companies, among others. • Non-marketable equity securities are tested for impairment using a qualitative model similar to the model used for goodwill and long-lived assets. Upon determining that an impairment may exist, the security's fair value is calculated and compared to its carrying value and an impairment is recognized immediately if the carrying value exceeds the fair value. Prior to 2018, non-marketable equity securities were tested for impairment using the other-than-temporary impairment model. • Equity method investments are subject to periodic impairment reviews using the other-than-temporary impairment model, which considers the severity and duration of a decline in fair value below cost and our ability and intent to hold the investment for a sufficient period of time to allow for recovery. Impairments of equity investments are recorded in gains (losses) on equity investments, net. |
Derivative Financial Instruments [Policy Text Block] | DERIVATIVE FINANCIAL INSTRUMENTS Our primary objective for holding derivative financial instruments is to manage currency exchange rate risk and interest rate risk, and, to a lesser extent, equity market risk, commodity price risk, and credit risk. We enter into master netting arrangements to mitigate credit risk in derivative transactions by permitting net settlement of transactions with the same counterparty. A master netting arrangement allows counterparties to net settle amounts owed to each other as a result of multiple, separate derivative transactions. We also enter into collateral security arrangements with certain of our counterparties to exchange cash collateral when the net fair value of certain derivative instruments fluctuates from contractually established thresholds. We record the collateral within other current assets and other long-term assets with a corresponding liability. For presentation on our Consolidated Balance Sheets, we do not offset fair value amounts recognized for derivative instruments under master netting arrangements. Our derivative financial instruments are presented at fair value on a gross basis and are included in other current assets, other long-term assets, other accrued liabilities, or other long-term liabilities. Cash flow hedges use foreign currency contracts, such as currency forwards and currency interest rate swaps, to hedge exposures for the following items: • variability in the U.S.-dollar equivalent of non-U.S.-dollar-denominated cash flows associated with our forecasted operating and capital purchases spending; and • coupon and principal payments for our non-U.S.-dollar-denominated indebtedness. The after-tax gains or losses from the effective portion of a cash flow hedge is reported as a component of accumulated other comprehensive income (loss) and reclassified into earnings in the same period or periods in which the hedged transaction affects earnings, and in the same line item on the Consolidated Statements of Income as the impact of the hedge transaction. For foreign currency contracts hedging our capital purchases, forward points are excluded from the hedge effectiveness assessment, and are recognized in earnings in interest and other, net. If the cash flow hedge transactions become improbable, the corresponding amounts deferred in accumulated other comprehensive income (loss) would be immediately reclassified to interest and other, net. These derivatives are classified in the Consolidated Statements of Cash Flows in the same section as the underlying item. Fair value hedges use interest rate contracts, such as interest rate swaps, to hedge against changes in the fair value on certain of our fixed-rate indebtedness attributable to changes in the benchmark interest rate. The gains or losses on these hedges, as well as the offsetting losses or gains related to the changes in the fair value of the underlying hedged item attributable to the hedged risk, are recognized in earnings in the current period, primarily in interest and other, net. These derivatives are classified in the Consolidated Statements of Cash Flows in the same section as the underlying item, primarily within cash flows from financing activities. Non-designated hedges use foreign currency contracts to economically hedge the functional currency equivalent cash flows of recognized monetary assets and liabilities, non-U.S.-dollar-denominated debt instruments classified as trading assets, and non-U.S.-dollar-denominated loans receivables recognized at fair value. We also use interest rate contracts to hedge interest rate risk related to our U.S.-dollar-denominated fixed-rate debt instruments classified as trading assets. |
Loans Receivable [Policy Text Block] | LOANS RECEIVABLE |
Credit Risk [Policy Text Block] | CREDIT RISK Financial instruments that potentially subject us to concentrations of credit risk consist principally of investments in debt instruments, derivative financial instruments, loans receivable, reverse repurchase agreements, and trade receivables. We enter into master netting arrangements to mitigate credit risk in derivative transactions by permitting net settlement of transactions with the same counterparty. We generally place investments with high-credit-quality counterparties and, by policy, we limit the amount of credit exposure to any one counterparty based on our analysis of that counterparty’s relative credit standing. As required per our investment policy, substantially all of our investments in debt instruments and financing receivables are in investment-grade instruments. Credit-rating criteria for derivative instruments are similar to those for other investments. Due to master netting arrangements, the amounts subject to credit risk related to derivative instruments are generally limited to the amounts, if any, by which the counterparty’s obligations exceed our obligations with that counterparty. As of December 28, 2019 , our total credit exposure to any single counterparty, excluding money market funds invested in U.S. treasury and U.S. agency securities and reverse repurchase agreements collateralized by treasury and agency securities, did not exceed $800 million . To further reduce credit risk, we obtain and secure available collateral from counterparties against obligations, including securities lending transactions, when we deem it appropriate. A substantial majority of our trade receivables are derived from sales to OEMs and ODMs. We also have accounts receivable derived from sales to industrial and communications equipment manufacturers in the computing and communications industries. We believe the net accounts receivable balances from our three largest customers ( 39% as of December 28, 2019 ) do not represent a significant credit risk, based on cash flow forecasts, balance sheet analysis, and past collection experience. For more information about the customers that represent our accounts receivable balance, see " Note 4: Operating Segments ." We have adopted credit policies and standards intended to accommodate industry growth and inherent risk. We believe credit risks are moderated by the financial stability of our major customers. We assess credit risk through quantitative and qualitative analysis. From this analysis, we establish shipping and credit limits, and determine whether we will seek to use one or more credit support protection devices, such as obtaining a parent guarantee, standby letter of credit, or credit insurance. |
Business Combinations Policy [Policy Text Block] | BUSINESS COMBINATIONS We allocate the purchase price paid for assets acquired and liabilities assumed in connection with our acquisitions based on their estimated fair values at the time of acquisition. This allocation involves a number of assumptions, estimates, and judgments in determining the fair value of the following: • intangible assets, including the valuation methodology, estimations of future cash flows, discount rates, market segment growth rates, and our assumed market segment share, as well as the estimated useful life of intangible assets; • deferred tax assets and liabilities, uncertain tax positions, and tax-related valuation allowances, which are initially estimated as of the acquisition date; • inventory; property, plant and equipment; pre-existing liabilities or legal claims; deferred revenue; and contingent consideration, each as may be applicable; and • goodwill as measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. Our assumptions and estimates are based upon comparable market data and information obtained from our management and the management of the acquired companies. We allocate goodwill to the reporting units of the business that are expected to benefit from the business combination. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | GOODWILL We perform an annual impairment assessment of goodwill at the reporting unit level in the fourth quarter of each year, or more frequently if indicators of potential impairment exist. The analysis may include both qualitative and quantitative factors to assess the likelihood of an impairment. The reporting unit’s carrying value used in an impairment test represents the assignment of various assets and liabilities, excluding certain corporate assets and liabilities, such as cash, investments, and debt. Qualitative factors include industry and market considerations, overall financial performance, and other relevant events and factors affecting the reporting unit. Additionally, as part of this assessment, we may perform a quantitative analysis to support the qualitative factors above by applying sensitivities to assumptions and inputs used in measuring a reporting unit’s fair value. Our quantitative impairment test considers both the income approach and the market approach to estimate a reporting unit’s fair value. Significant estimates include market segment growth rates, our assumed market segment share, estimated costs, and discount rates based on a reporting unit's weighted average cost of capital. |
Identified Intangible Assets [Policy Text Block] | IDENTIFIED INTANGIBLE ASSETS We amortize acquisition-related intangible assets that are subject to amortization over their estimated useful life. Acquisition-related in-process R&D assets represent the fair value of incomplete R&D projects that had not reached technological feasibility as of the date of acquisition; initially, these are classified as in-process R&D and are not subject to amortization. Once these R&D projects are completed, the asset balances are transferred from in-process R&D to acquisition-related developed technology and are subject to amortization from this point forward. The asset balances relating to projects that are abandoned after acquisition are impaired and expensed to R&D. |
Employee Equity Incentive Plans [Policy Text Block] | EMPLOYEE EQUITY INCENTIVE PLANS We use the straight-line amortization method to recognize share-based compensation expense over the service period of the award, net of estimated forfeitures. Upon exercise, cancellation, forfeiture, or expiration of stock options, or upon vesting or forfeiture of RSUs, we eliminate deferred tax assets for options and RSUs with multiple vesting dates for each vesting period on a first-in, first-out basis as if each vesting period were a separate award. |
Income Taxes [Policy Text Block] | INCOME TAXES We compute the provision for income taxes using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. We measure deferred tax assets and liabilities using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. We assess the likelihood that we will be able to recover our deferred tax assets. If recovery is not likely, we must increase our provision for taxes by recording a valuation allowance against the deferred tax assets that we estimate will not ultimately be recoverable. We believe that we will ultimately recover the deferred tax assets recorded on our Consolidated Balance Sheets. Recovery of a portion of our deferred tax assets is affected by management’s plans with respect to holding or disposing of certain investments; therefore, such changes could also affect our future provision for taxes. We recognize tax benefits from uncertain tax positions only if (based on the technical merits of the position) it is more likely than not that the tax positions will be sustained on examination by the tax authority. The tax benefits recognized in the financial statements from such positions are measured based on the largest amount that is more than 50% likely to be realized upon ultimate settlement. We recognize interest and penalties related to unrecognized tax benefits within the provision for taxes on the Consolidated Statements of Income. |
Loss Contingencies [Policy Text Block] | LOSS CONTINGENCIES We are subject to loss contingencies, including various legal and regulatory proceedings, asserted and potential claims, liabilities related to repair or replacement of parts in connection with product defects, as well as product warranties and potential asset impairments that arise in the ordinary course of business. An estimated loss from such contingencies is recognized as a charge to income if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. |
Recent Accounting Standards (Ta
Recent Accounting Standards (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Standards [Table Text Block] | For the twelve months ended December 28, 2019 , lease expense was $185 million . In accordance with the new leases standard, discounted and undiscounted lease payments under non-cancelable leases as of December 28, 2019 , excluding non-lease components, were as follows: (In Millions) 2020 2021 2022 2023 2024 2025 and Thereafter Total Lease payments $ 178 $ 135 $ 97 $ 74 $ 54 $ 57 $ 595 Present value of lease payments $ 549 Lease expense was $231 million in 2018 ( $264 million in 2017). Prior to our adoption of the new leases standard, f uture minimum lease payments as of December 29, 2018, which were undiscounted and included lease and non-lease components, were as follows: (In Millions) 2019 2020 2021 2022 2023 2024 and Thereafter Total Minimum rental commitments under all non-cancelable leases $ 229 $ 181 $ 133 $ 101 $ 70 $ 121 $ 835 |
Operating Segments (Tables)
Operating Segments (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Net revenue and operating income (loss) for each period were as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Net revenue: Data Center Group Platform $ 21,441 $ 21,155 $ 17,439 Adjacent 2,040 1,836 1,625 23,481 22,991 19,064 Internet of Things IOTG 3,821 3,455 3,169 Mobileye 879 698 210 4,700 4,153 3,379 Non-Volatile Memory Solutions Group 4,362 4,307 3,520 Programmable Solutions Group 1,987 2,123 1,902 Client Computing Group Platform 32,681 33,234 31,226 Adjacent 4,465 3,770 2,777 37,146 37,004 34,003 All other 289 270 893 Total net revenue $ 71,965 $ 70,848 $ 62,761 Operating income (loss): Data Center Group $ 10,227 $ 11,476 $ 8,395 Internet of Things IOTG 1,097 980 650 Mobileye 245 143 (28 ) 1,342 1,123 622 Non-Volatile Memory Solutions Group (1,176 ) (5 ) (260 ) Programmable Solutions Group 318 466 458 Client Computing Group 15,202 14,222 12,919 All other (3,878 ) (3,966 ) (4,084 ) Total operating income $ 22,035 $ 23,316 $ 18,050 |
Revenue from External Customers by Products and Services [Table Text Block] | Disaggregated net revenue for each period was as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Platform revenue DCG platform $ 21,441 $ 21,155 $ 17,439 IOTG platform 3,440 3,065 2,645 CCG desktop platform 11,822 12,220 11,647 CCG notebook platform 20,779 20,930 19,414 Other platform 1 80 84 165 57,562 57,454 51,310 Adjacent revenue 2 14,403 13,394 10,917 ISecG divested business — — 534 Total revenue $ 71,965 $ 70,848 $ 62,761 1 Includes our tablet and service provider revenue. 2 |
Revenue from External Customers by Geographic Areas [Table Text Block] | Net revenue by country as presented below is based on the billing location of the customer. Revenue from unaffiliated customers for each period was as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, China (including Hong Kong) $ 20,026 $ 18,824 $ 14,796 Singapore 15,650 15,409 14,285 United States 15,617 14,303 12,543 Taiwan 10,058 10,646 10,518 Other countries 10,614 11,666 10,619 Total net revenue $ 71,965 $ 70,848 $ 62,761 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended (In Millions, Except Per Share Amounts) Dec 28, Dec 29, Dec 30, Net income available to common stockholders $ 21,048 $ 21,053 $ 9,601 Weighted average shares of common stock outstanding—Basic 4,417 4,611 4,701 Dilutive effect of employee incentive plans 41 50 47 Dilutive effect of convertible debt 15 40 87 Weighted average shares of common stock outstanding—Diluted 4,473 4,701 4,835 Earnings per share—Basic $ 4.77 $ 4.57 $ 2.04 Earnings per share—Diluted $ 4.71 $ 4.48 $ 1.99 |
Contract Liabilities (Tables)
Contract Liabilities (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | (In Millions) Dec 28, Dec 29, Prepaid supply agreements $ 1,805 $ 2,587 Other 236 122 Total contract liabilities $ 2,041 $ 2,709 |
Contract with Customer, Asset and Liability | The following table shows the changes in contract liability balances relating to long-term prepaid supply agreements during 2019: (In Millions) Prepaid supply agreements balance as of December 29, 2018 $ 2,587 Prepaids utilized (782 ) Prepaid supply agreements balance as of December 28, 2019 $ 1,805 |
Other Financial Statement Det_2
Other Financial Statement Details (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Other Financial Statement Details [Abstract] | |
Inventories [Table Text Block] | (In Millions) Dec 28, Dec 29, Raw materials $ 840 $ 813 Work in process 6,225 4,511 Finished goods 1,679 1,929 Total inventories $ 8,744 $ 7,253 |
Property, Plant and Equipment [Table Text Block] | (In Millions) Dec 28, Dec 29, Land and buildings $ 37,743 $ 30,954 Machinery and equipment 74,901 66,721 Construction in progress 16,063 16,643 Total property, plant and equipment, gross 128,707 114,318 Less: accumulated depreciation (73,321 ) (65,342 ) Total property, plant and equipment, net $ 55,386 $ 48,976 |
Schedule of Other Assets, Noncurrent [Table Text Block] | (In Millions) Dec 28, Dec 29, Non-current deferred tax assets $ 1,209 $ 1,122 Pre-payments for property, plant and equipment 1,641 1,507 Loans receivable 554 479 Other 2,149 1,313 Total other long-term assets $ 5,553 $ 4,421 |
Long-lived Assets by Geographic Areas [Table Text Block] | Net property, plant and equipment by country at the end of each period was as follows: (In Millions) Dec 28, Dec 29, United States $ 35,262 $ 27,512 Israel 8,463 8,861 China 5,315 6,417 Ireland 3,854 3,947 Other countries 2,492 2,239 Total property, plant and equipment, net $ 55,386 $ 48,976 |
Gains (Losses) On Equity Investments, Net [Table Text Block] | Gains and losses for our marketable and non-marketable equity securities during each period were as follows: (In Millions) Dec 28, Dec 29, Net gains (losses) recognized during the period on equity securities $ 734 $ 298 Less: Net (gains) losses recognized during the period on equity securities sold during the period (424 ) (445 ) Unrealized gains (losses) recognized during the period on equity securities still held at the reporting date $ 310 $ (147 ) The components of gains (losses) on equity investments, net for each period were as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Ongoing mark-to-market adjustments on marketable equity securities 1 $ 277 $ (129 ) — Observable price adjustments on non-marketable equity securities 1 293 202 — Impairment charges (122 ) (424 ) (833 ) Sale of equity investments and other 2 1,091 226 3,484 Total gains (losses) on equity investments, net $ 1,539 $ (125 ) $ 2,651 |
Interest and Other, Net [Table Text Block] | The components of interest and other, net for each period were as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Interest income $ 483 $ 438 $ 441 Interest expense (489 ) (468 ) (646 ) Other, net 490 156 (144 ) Total interest and other, net $ 484 $ 126 $ (349 ) |
Restructuring and Other Charg_2
Restructuring and Other Charges (Tables) $ in Millions | 12 Months Ended |
Dec. 28, 2019USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Incurred Cost | $ 393 |
Restructuring and Related Costs [Table Text Block] | Years Ended (In Millions) Dec 28, Dec 29, Dec 30, 2019 Restructuring Program $ 393 $ — $ — 2016 Restructuring Program — (72 ) 135 ISecG separation costs and other charges — — 249 Total restructuring and other charges $ 393 $ (72 ) $ 384 |
2019 Restructuring Program [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Incurred Cost | $ 393 |
Restructuring and Related Costs [Table Text Block] | Restructuring and other charges (benefits) by type for the 2019 Restructuring Program were as follows: Years Ended (In Millions) Dec 28, Employee severance and benefit arrangements $ 280 Asset impairment and other charges 113 Total restructuring and other charges $ 393 |
Other Restructuring [Member] | 2019 Restructuring Program [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Cost, Incurred Cost | $ 113 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Income before taxes and the provision for taxes consisted of the following: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Income before taxes: U.S. $ 13,729 $ 14,753 $ 11,141 Non-U.S. 10,329 8,564 9,211 Total income before taxes 24,058 23,317 20,352 Provision for taxes: Current: Federal 1,391 2,786 8,307 State 37 (11 ) 27 Non-U.S. 1,060 1,097 899 Total current provision for taxes 2,488 3,872 9,233 Deferred: Federal 597 (1,389 ) 1,680 Other (75 ) (219 ) (162 ) Total deferred provision for taxes 522 (1,608 ) 1,518 Total provision for taxes $ 3,010 $ 2,264 $ 10,751 Effective tax rate 12.5 % 9.7 % 52.8 % |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Income before taxes and the provision for taxes consisted of the following: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Income before taxes: U.S. $ 13,729 $ 14,753 $ 11,141 Non-U.S. 10,329 8,564 9,211 Total income before taxes 24,058 23,317 20,352 Provision for taxes: Current: Federal 1,391 2,786 8,307 State 37 (11 ) 27 Non-U.S. 1,060 1,097 899 Total current provision for taxes 2,488 3,872 9,233 Deferred: Federal 597 (1,389 ) 1,680 Other (75 ) (219 ) (162 ) Total deferred provision for taxes 522 (1,608 ) 1,518 Total provision for taxes $ 3,010 $ 2,264 $ 10,751 Effective tax rate 12.5 % 9.7 % 52.8 % |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The difference between the tax provision at the statutory federal income tax rate and the tax provision as a percentage of income before income taxes (effective tax rate) for each period was as follows: Years Ended Dec 28, Dec 29, Dec 30, Statutory federal income tax rate 21.0 % 21.0 % 35.0 % Increase (reduction) in rate resulting from: Non-U.S. income taxed at different rates (3.7 ) (3.6 ) (7.6 ) Research and development tax credits (2.3 ) (2.7 ) (2.3 ) Domestic manufacturing deduction benefit — — (1.3 ) Foreign derived intangible income benefit (3.2 ) (3.7 ) — Tax Reform — (1.3 ) 26.8 ISecG divestiture — — 3.3 Other 0.7 (0.1 ) (1.1 ) Effective tax rate 12.5 % 9.7 % 52.8 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts for income tax purposes. Significant components of our deferred tax assets and liabilities at the end of each period were as follows: (In Millions) Dec 28, Dec 29, Deferred tax assets: Accrued compensation and other benefits $ 740 $ 570 Share-based compensation 294 273 Inventory 760 517 State credits and net operating losses 1,511 1,297 Other, net 515 512 Gross deferred tax assets 3,820 3,169 Valuation allowance (1,534 ) (1,302 ) Total deferred tax assets 2,286 1,867 Deferred tax liabilities: Property, plant and equipment (1,807 ) (878 ) Licenses and intangibles (720 ) (744 ) Convertible debt (88 ) (204 ) Unrealized gains on investments and derivatives (292 ) (266 ) Other, net (214 ) (318 ) Total deferred tax liabilities (3,121 ) (2,410 ) Net deferred tax assets (liabilities) $ (835 ) $ (543 ) Reported as: Deferred tax assets 1,209 1,122 Deferred tax liabilities (2,044 ) (1,665 ) Net deferred tax assets (liabilities) $ (835 ) $ (543 ) |
Summary of Valuation Allowance [Table Text Block] | Change in valuation allowance for deferred tax assets were as follows: Years Ended (In Millions) Balance at Beginning of Year Additions Charged to Expenses/ Other Accounts Net (Deductions) Recoveries Balance at End of Year Valuation allowance for deferred tax assets December 28, 2019 $ 1,302 $ 239 $ (7 ) $ 1,534 December 29, 2018 $ 1,171 $ 185 $ (54 ) $ 1,302 December 30, 2017 $ 953 $ 237 $ (19 ) $ 1,171 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Debt Securities, Available-for-sale [Line Items] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | December 28, 2019 December 29, 2018 (In Millions) Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt $ 2,914 $ 44 $ — $ 2,958 $ 3,068 $ 2 $ (28 ) $ 3,042 Financial institution instruments 3,007 15 (1 ) 3,021 3,076 3 (11 ) 3,068 Government debt 560 4 — 564 1,069 1 (9 ) 1,061 Total available-for-sale debt investments $ 6,481 $ 63 $ (1 ) $ 6,543 $ 7,213 $ 6 $ (48 ) $ 7,171 |
Investment [Table Text Block] | (In Millions) Dec 28, Dec 29, Marketable equity securities $ 450 $ 1,440 Non-marketable equity securities 3,480 2,978 Equity method investments 37 1,624 Total $ 3,967 $ 6,042 |
Gain (Loss) on Securities [Table Text Block] | Gains and losses for our marketable and non-marketable equity securities during each period were as follows: (In Millions) Dec 28, Dec 29, Net gains (losses) recognized during the period on equity securities $ 734 $ 298 Less: Net (gains) losses recognized during the period on equity securities sold during the period (424 ) (445 ) Unrealized gains (losses) recognized during the period on equity securities still held at the reporting date $ 310 $ (147 ) The components of gains (losses) on equity investments, net for each period were as follows: Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Ongoing mark-to-market adjustments on marketable equity securities 1 $ 277 $ (129 ) — Observable price adjustments on non-marketable equity securities 1 293 202 — Impairment charges (122 ) (424 ) (833 ) Sale of equity investments and other 2 1,091 226 3,484 Total gains (losses) on equity investments, net $ 1,539 $ (125 ) $ 2,651 |
Available-for-sale Securities [Member] | |
Debt Securities, Available-for-sale [Line Items] | |
Investments Classified by Contractual Maturity Date [Table Text Block] | The fair values of available-for-sale debt investments by contractual maturity as of December 28, 2019 were as follows: (In Millions) Fair Value Due in 1 year or less $ 2,203 Due in 1–2 years 1,065 Due in 2–5 years 2,171 Due after 5 years 40 Instruments not due at a single maturity date 1,064 Total $ 6,543 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Business Combination, Goodwill [Abstract] | |
Schedule of Goodwill [Table Text Block] | Goodwill activity for each period was as follows: Dec 29, Acquisitions Transfers Other Dec 28, Data Center Group $ 5,424 $ 1,758 $ — $ — $ 7,155 Internet of Things Group 1,579 — — — 1,579 Mobileye 10,290 — — — 10,290 Programmable Solutions Group 2,579 67 — 8 2,681 Client Computing Group 4,403 — — (70 ) 4,333 All other 238 — — — 238 Total $ 24,513 $ 1,825 $ — $ (62 ) $ 26,276 (In Millions) Dec 30, Acquisitions Transfers Other Dec 29, Data Center Group $ 5,421 $ 3 $ — $ — $ 5,424 Internet of Things Group 1,126 16 480 (43 ) 1,579 Mobileye 10,278 7 — 5 10,290 Programmable Solutions Group 2,490 89 — — 2,579 Client Computing Group 4,356 47 — — 4,403 All other 718 — (480) — 238 Total $ 24,389 $ 162 $ — $ (38 ) $ 24,513 |
Identified Intangible Assets (T
Identified Intangible Assets (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 28, 2019 December 29, 2018 (In Millions) Gross Assets Accumulated Amortization Net Gross Assets Accumulated Amortization Net Developed technology $ 9,407 $ (3,801 ) $ 5,606 $ 9,611 $ (3,021 ) $ 6,590 Customer relationships and brands 2,160 (708 ) 1,452 2,179 (527 ) 1,652 Licensed technology and patents 2,975 (1,455 ) 1,520 2,932 (1,406 ) 1,526 In-process R&D 1,664 — 1,664 1,497 — 1,497 Other non-amortizing intangibles 585 — 585 571 — 571 Total identified intangible assets $ 16,791 $ (5,964 ) $ 10,827 $ 16,790 $ (4,954 ) $ 11,836 |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | December 28, 2019 December 29, 2018 (In Millions) Gross Assets Accumulated Amortization Net Gross Assets Accumulated Amortization Net Developed technology $ 9,407 $ (3,801 ) $ 5,606 $ 9,611 $ (3,021 ) $ 6,590 Customer relationships and brands 2,160 (708 ) 1,452 2,179 (527 ) 1,652 Licensed technology and patents 2,975 (1,455 ) 1,520 2,932 (1,406 ) 1,526 In-process R&D 1,664 — 1,664 1,497 — 1,497 Other non-amortizing intangibles 585 — 585 571 — 571 Total identified intangible assets $ 16,791 $ (5,964 ) $ 10,827 $ 16,790 $ (4,954 ) $ 11,836 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | Amortization expenses recorded for identified intangible assets in the Consolidated Statements of Income for each period and the weighted average useful life were as follows: Years Ended (In Millions) Location Dec 28, Dec 29, Dec 30, Weighted Average Useful Life 1 Developed technology Cost of sales $ 1,124 $ 1,105 $ 912 9 years Customer relationships and brands Amortization of acquisition-related intangibles 200 200 177 11 years Licensed technology and patents Cost of sales 298 260 288 12 years Total amortization expenses $ 1,622 $ 1,565 $ 1,377 1 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | We expect future amortization expense for the next five years and thereafter to be as follows: 2020 2021 2022 2023 2024 Thereafter Total Future amortization expenses $ 1,652 $ 1,567 $ 1,443 $ 1,344 $ 996 $ 1,576 $ 8,578 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | LONG-TERM DEBT Dec 28, Dec 29, (In Millions) Effective Interest Rate Amount Amount Floating-rate senior notes: Three-month LIBOR plus 0.08%, due May 2020 2.56% $ 700 $ 700 Three-month LIBOR plus 0.35%, due May 2022 2.82% 800 800 Fixed-rate senior notes: 3.25%, due December 2019 1 —% — 177 1.85%, due May 2020 1.89% 1,000 1,000 2.45%, due July 2020 2.49% 1,750 1,750 1.70%, due May 2021 1.79% 500 500 3.30%, due October 2021 3.71% 2,000 2,000 2.35%, due May 2022 2.74% 750 750 3.10%, due July 2022 3.50% 1,000 1,000 4.00%, due December 2022 1 2.97% 382 389 2.70%, due December 2022 3.09% 1,500 1,500 4.10%, due November 2023 3.22% 400 400 2.88%, due May 2024 3.07% 1,250 1,250 2.70%, due June 2024 2.84% 600 600 3.70%, due July 2025 4.44% 2,250 2,250 2.60%, due May 2026 2.91% 1,000 1,000 3.15%, due May 2027 3.48% 1,000 1,000 2.45%, due November 2029 2.48% 1,250 — 4.00%, due December 2032 3.56% 750 750 4.80%, due October 2041 4.31% 802 802 4.25%, due December 2042 3.74% 567 567 4.90%, due July 2045 4.41% 772 772 4.70%, due December 2045 —% — 915 4.10%, due May 2046 3.68% 1,250 1,250 4.10%, due May 2047 3.64% 1,000 1,000 4.10%, due August 2047 3.20% 640 640 3.73%, due December 2047 4.07% 1,967 1,967 3.25%, due November 2049 3.26% 1,500 — Oregon and Arizona bonds: 2.40% - 2.70%, due December 2035 - 2040 2.48% 423 423 5.00%, due March 2049 2.88% 138 — 5.00%, due June 2049 2.48% 438 — Junior subordinated convertible debentures: 3.25%, due August 2039 2 3.37% 372 988 Total senior notes and other borrowings 28,751 27,140 Unamortized premium/discount and issuance costs (529 ) (891 ) Hedge accounting fair value adjustments 781 (390 ) Long-term debt 29,003 25,859 Current portion of long-term debt (3,695 ) (761 ) Total long-term debt $ 25,308 $ 25,098 1 To manage foreign currency risk associated with the Australian-dollar-denominated notes issued in 2015, we entered into currency interest rate swaps with an aggregate notional amount of $577 million , which effectively converted these notes to U.S.-dollar-denominated notes. For further discussion on our currency interest rate swaps, see " Note 17: Derivative Financial Instruments ." Principal and unamortized discount/issuance costs for the Australian-dollar-denominated notes in the table above were calculated using foreign currency exchange rates as of December 28, 2019 and December 29, 2018 . 2 Effective interest rate for the year ended December 29, 2018 was 3.42% . |
Convertible Debt [Table Text Block] | 2009 Debentures (In Millions, Except Per Share Amounts) Dec 28, Dec 29, Outstanding principal $ 372 $ 988 Unamortized discount 1 $ 155 $ 419 Net debt carrying amount $ 217 $ 569 Conversion rate (shares of common stock per $1,000 principal amount of debentures) 49.69 49.01 Effective conversion price (per share of common stock) $ 20.13 $ 20.40 1 The unamortized discounts for the 2009 Debentures are amortized over the remaining life of the debt. |
Schedule of Maturities of Long-term Debt [Table Text Block] | Our aggregate debt maturities, excluding commercial paper and drafts payable, based on outstanding principal as of December 28, 2019 , by year payable, are as follows: (In Millions) 2020 2021 2022 2023 2024 2025 and thereafter Total $ 3,450 $ 2,500 $ 4,432 $ 400 $ 1,850 $ 16,119 $ 28,751 |
Fair Value (Tables)
Fair Value (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ASSETS AND LIABILITIES MEASURED AND RECORDED AT FAIR VALUE ON A RECURRING BASIS December 28, 2019 December 29, 2018 Fair Value Measured and Recorded at Reporting Date Using Total Fair Value Measured and Recorded at Reporting Date Using Total (In Millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Cash equivalents: Corporate debt $ — $ 713 $ — $ 713 $ — $ 262 $ — $ 262 Financial institution instruments 1 1,064 408 — 1,472 550 183 — 733 Reverse repurchase agreements — 1,500 — 1,500 — 1,850 — 1,850 Short-term investments: Corporate debt — 347 — 347 — 937 — 937 Financial institution instruments 1 — 724 — 724 — 1,423 — 1,423 Government debt 2 — 11 — 11 — 428 — 428 Trading assets: Corporate debt — 2,848 — 2,848 — 2,635 — 2,635 Financial institution instruments 1 87 1,578 — 1,665 67 1,273 — 1,340 Government debt 2 — 3,334 — 3,334 — 1,868 — 1,868 Other current assets: Derivative assets 50 230 — 280 — 180 — 180 Loans receivable 3 — — — — — 354 — 354 Marketable equity securities 450 — — 450 1,440 — — 1,440 Other long-term investments: Corporate debt — 1,898 — 1,898 — 1,843 — 1,843 Financial institution instruments 1 — 825 — 825 — 912 — 912 Government debt 2 — 553 — 553 — 633 — 633 Other long-term assets: Derivative assets — 690 16 706 — 100 — 100 Loans receivable 3 — 554 — 554 — 229 — 229 Total assets measured and recorded at fair value $ 1,651 $ 16,213 $ 16 $ 17,880 $ 2,057 $ 15,110 $ — $ 17,167 Liabilities Other accrued liabilities: Derivative liabilities $ 3 $ 287 $ — $ 290 $ — $ 412 $ — $ 412 Other long-term liabilities: Derivative liabilities — 13 — 13 — 415 68 483 Total liabilities measured and recorded at fair value $ 3 $ 300 $ — $ 303 $ — $ 827 $ 68 $ 895 1 Level 1 investments in financial institution instruments consist of money market funds. Level 2 investments consist primarily of commercial paper, certificates of deposit, time deposits, and notes and bonds issued by financial institutions. 2 Level 2 investments in government debt consist primarily of U.S. agency notes and non-U.S. government debt. 3 T he fair value of our loans receivable for which we elected the fair value option did not significantly differ from the contractual principal balance based on the contractual currency. |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The changes in accumulated other comprehensive income (loss) by component and related tax effects for each period were as follows: (In Millions) Unrealized Holding Gains (Losses) on Available-for-Sale Equity Investments Unrealized Holding Gains (Losses) on Derivatives Actuarial Valuation and Other Pension Expenses Translation Adjustments and Other Total December 31, 2016 $ 2,179 $ (259 ) $ (1,280 ) $ (534 ) $ 106 Other comprehensive income (loss) before reclassifications 2,765 605 275 (2 ) 3,643 Amounts reclassified out of accumulated other comprehensive income (loss) (3,433 ) (69 ) 103 509 (2,890 ) Tax effects 234 (171 ) (61 ) 1 3 Other comprehensive income (loss) (434 ) 365 317 508 756 December 30, 2017 1,745 106 (963 ) (26 ) 862 Impact of change in accounting standards (1,745 ) 24 (65 ) (4 ) (1,790 ) Opening Balance as of December 31, 2017 — 130 (1,028 ) (30 ) (928 ) Other comprehensive income (loss) before reclassifications — (310 ) 157 (16 ) (169 ) Amounts reclassified out of accumulated other comprehensive income (loss) — 9 109 8 126 Tax effects — 48 (56 ) 5 (3 ) Other comprehensive income (loss) — (253 ) 210 (3 ) (46 ) December 29, 2018 — (123 ) (818 ) (33 ) (974 ) Other comprehensive income (loss) before reclassifications — (11 ) (753 ) 109 (655 ) Amounts reclassified out of accumulated other comprehensive income (loss) — 195 67 (6 ) 256 Tax effects — (7 ) 122 (22 ) 93 Other comprehensive income (loss) — 177 (564 ) 81 (306 ) December 28, 2019 $ — $ 54 $ (1,382 ) $ 48 $ (1,280 ) |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Derivative [Line Items] | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | Total gross notional amounts for outstanding derivatives (recorded at fair value) at the end of each period were as follows: (In Millions) Dec 28, Dec 29, Dec 30, Foreign currency contracts $ 23,981 $ 19,223 $ 19,958 Interest rate contracts 14,302 22,447 16,823 Other 1,753 1,356 1,636 Total $ 40,036 $ 43,026 $ 38,417 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The amounts recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges for each period were as follows: Line Item in the Consolidated Balance Sheet in Which the Hedged Item Is Included Carrying Amount of the Hedged Item Asset/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount Assets/(Liabilities) Years Ended Dec 28, Dec 29, Dec 28, Dec 29, Long-term debt $ (12,678 ) $ (19,622 ) $ (681 ) $ 390 FAIR VALUE OF DERIVATIVE INSTRUMENTS IN THE CONSOLIDATED BALANCE SHEETS December 28, 2019 December 29, 2018 (In Millions) Assets 1 Liabilities 2 Assets 1 Liabilities 2 Derivatives designated as hedging instruments Foreign currency contracts 3 $ 56 $ 159 $ 44 $ 244 Interest rate contracts 690 9 84 474 Total derivatives designated as hedging instruments 746 168 128 718 Derivatives not designated as hedging instruments Foreign currency contracts 3 179 78 132 155 Interest rate contracts 11 54 20 22 Equity contracts 50 3 — — Total derivatives not designated as hedging instruments 240 135 152 177 Total derivatives $ 986 $ 303 $ 280 $ 895 1 Derivative assets are recorded as other assets, current and non-current. 2 Derivative liabilities are recorded as other liabilities, current and non-current. 3 The majority of these instruments mature within 12 months. |
Offsetting Assets [Table Text Block] | The gross amounts of our derivative instruments and reverse repurchase agreements subject to master netting arrangements with various counterparties, and cash and non-cash collateral posted under such agreements at the end of each period were as follows: December 28, 2019 Gross Amounts Not Offset in the Balance Sheet (In Millions) Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Cash and Non-Cash Collateral Received or Pledged Net Amount Assets: Derivative assets subject to master netting arrangements $ 974 $ — $ 974 $ (144 ) $ (808 ) $ 22 Reverse repurchase agreements 1,850 — 1,850 — (1,850 ) — Total assets 2,824 — 2,824 (144 ) (2,658 ) 22 Liabilities: Derivative liabilities subject to master netting arrangements 262 — 262 (144 ) (72 ) 46 Total liabilities $ 262 $ — $ 262 $ (144 ) $ (72 ) $ 46 December 29, 2018 Gross Amounts Not Offset in the Balance Sheet (In Millions) Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Cash and Non-Cash Collateral Received or Pledged Net Amount Assets: Derivative assets subject to master netting arrangements $ 292 $ — $ 292 $ (220 ) $ (72 ) $ — Reverse repurchase agreements 2,099 — 2,099 — (1,999 ) 100 Total assets 2,391 — 2,391 (220 ) (2,071 ) 100 Liabilities: Derivative liabilities subject to master netting arrangements 890 — 890 (220 ) (576 ) 94 Total liabilities $ 890 $ — $ 890 $ (220 ) $ (576 ) $ 94 |
Offsetting Liabilities [Table Text Block] | The gross amounts of our derivative instruments and reverse repurchase agreements subject to master netting arrangements with various counterparties, and cash and non-cash collateral posted under such agreements at the end of each period were as follows: December 28, 2019 Gross Amounts Not Offset in the Balance Sheet (In Millions) Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Cash and Non-Cash Collateral Received or Pledged Net Amount Assets: Derivative assets subject to master netting arrangements $ 974 $ — $ 974 $ (144 ) $ (808 ) $ 22 Reverse repurchase agreements 1,850 — 1,850 — (1,850 ) — Total assets 2,824 — 2,824 (144 ) (2,658 ) 22 Liabilities: Derivative liabilities subject to master netting arrangements 262 — 262 (144 ) (72 ) 46 Total liabilities $ 262 $ — $ 262 $ (144 ) $ (72 ) $ 46 December 29, 2018 Gross Amounts Not Offset in the Balance Sheet (In Millions) Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Cash and Non-Cash Collateral Received or Pledged Net Amount Assets: Derivative assets subject to master netting arrangements $ 292 $ — $ 292 $ (220 ) $ (72 ) $ — Reverse repurchase agreements 2,099 — 2,099 — (1,999 ) 100 Total assets 2,391 — 2,391 (220 ) (2,071 ) 100 Liabilities: Derivative liabilities subject to master netting arrangements 890 — 890 (220 ) (576 ) 94 Total liabilities $ 890 $ — $ 890 $ (220 ) $ (576 ) $ 94 |
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The effects of derivative instruments designated as fair value hedges, recognized in interest and other, net for each period were as follows: Gains (Losses) Recognized in Statement of Income on Derivatives Years Ended (In Millions) Dec 28, Dec 29, Dec 30, Interest rate contracts $ 1,071 $ (138 ) $ (68 ) Hedged items (1,071 ) 138 68 Total $ — $ — $ — |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | The effects of derivative instruments not designated as hedging instruments on the Consolidated Statements of Income for each period were as follows: Years Ended (In Millions) Location of Gains (Losses) Recognized in Income on Derivatives Dec 28, Dec 29, Dec 30, Foreign currency contracts Interest and other, net $ 204 $ 372 $ (547 ) Interest rate contracts Interest and other, net (32 ) 9 9 Other Various 297 (147 ) 203 Total $ 469 $ 234 $ (335 ) |
Retirement Benefit Plans (Table
Retirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Funded Status [Table Text Block] | Dec 28, Dec 29, Plans with accumulated benefit obligation in excess of plan assets Accumulated benefit obligation $ 3,862 $ 1,965 Plan assets $ 2,654 $ 1,106 Plans with projected benefit obligation in excess of plan assets Projected benefit obligation $ 4,284 $ 2,232 Plan assets $ 2,654 $ 1,106 |
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] | The vested benefit obligation for a defined-benefit pension plan is the actuarial present value of the vested benefits to which the employee is currently entitled based on the employee's expected date of separation or retirement. Dec 28, Dec 29, Changes in projected benefit obligation: Beginning projected benefit obligation $ 3,433 $ 3,842 Service cost 54 65 Interest cost 113 113 Actuarial (gain) loss 829 (204 ) Currency exchange rate changes (2 ) (121 ) Plan curtailments — (150 ) Plan settlements (57 ) (74 ) Other (86 ) (38 ) Ending projected benefit obligation 1 4,284 3,433 Changes in fair value of plan assets: Beginning fair value of plan assets 2,551 2,287 Actual return on plan assets 193 (38 ) Employer contributions 30 480 Currency exchange rate changes 3 (62 ) Plan settlements (57 ) (74 ) Other (66 ) (42 ) Ending fair value of plan assets 2 2,654 2,551 Net funded status $ 1,630 $ 882 Amounts recognized in the Consolidated Balance Sheets Other long-term assets $ — $ 244 Other long-term liabilities $ 1,630 $ 1,126 Accumulated other comprehensive loss (income), before tax 3 $ 1,730 $ 1,038 1 The projected benefit obligation was approximately 35% in the U.S. and 65% outside of the U.S. as of December 28, 2019 and December 29, 2018 . 2 The fair value of plan assets was approximately 55% in the U.S. and 45% outside of the U.S. as of December 28, 2019 and December 29, 2018 . 3 The accumulated other comprehensive loss (income), before tax, was approximately 35% in the U.S. and 65% outside of the U.S. as of December 28, 2019 and December 29, 2018 |
Defined Benefit Plan, Assumptions [Table Text Block] | ASSUMPTIONS FOR PENSION BENEFIT PLANS Dec 28, Dec 29, Weighted average actuarial assumptions used to determine benefit obligations Discount rate 2.3 % 3.3 % Rate of compensation increase 3.5 % 3.5 % 2019 2018 2017 Weighted average actuarial assumptions used to determine costs Discount rate 3.4 % 3.0 % 3.2 % Expected long-term rate of return on plan assets 4.7 % 4.7 % 4.6 % Rate of compensation increase 3.5 % 3.3 % 3.6 % |
Schedule of Allocation of Plan Assets [Table Text Block] | PENSION PLAN ASSETS December 28, 2019 Dec 29, Fair Value Measured at Reporting Date Using (In Millions) Level 1 Level 2 Level 3 Total Total Equity securities $ — $ 278 $ — $ 278 $ 261 Fixed income — 99 20 119 111 Assets measured by fair value hierarchy $ — $ 377 $ 20 $ 397 $ 372 Assets measured at net asset value 2,236 2,138 Cash and cash equivalents 21 41 Total pension plan assets at fair value $ 2,654 $ 2,551 |
Postretirement Health Coverage [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Expected Benefit Payments [Table Text Block] | The estimated benefit payments for this plan over the next 10 years are as follows: (In Millions) 2020 2021 2022 2023 2024 2025-2029 Postretirement Medical Benefits $ 28 $ 30 $ 31 $ 32 $ 34 $ 183 |
Pension Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Expected Benefit Payments [Table Text Block] | Estimated benefit payments over the next 10 years are as follows: (In Millions) 2020 2021 2022 2023 2024 2025-2029 Pension benefits $ 151 $ 145 $ 139 $ 135 $ 132 $ 694 |
Employee Equity Incentive Pla_2
Employee Equity Incentive Plans (Tables) | 12 Months Ended |
Dec. 28, 2019 | |
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Restricted Stock Units Estimated Values And Weighted Average Assumptions [Table Text Block] | Weighted average assumptions used in estimating grant values were as follows: Dec 28, Dec 29, Dec 30, Estimated values $ 48.06 $ 48.95 $ 35.30 Risk-free interest rate 2.3 % 2.4 % 1.4 % Dividend yield 2.5 % 2.4 % 2.9 % Volatility 25 % 22 % 23 % |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Weighted average assumptions used in estimating grant values were as follows: Dec 28, Dec 29, Dec 30, Estimated values $ 48.06 $ 48.95 $ 35.30 Risk-free interest rate 2.3 % 2.4 % 1.4 % Dividend yield 2.5 % 2.4 % 2.9 % Volatility 25 % 22 % 23 % |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of Stock Units (In Millions) Weighted Average Grant-Date Fair Value December 29, 2018 89.9 $ 39.07 Granted 37.6 $ 48.06 Vested (35.2 ) $ 36.51 Forfeited (8.2 ) $ 42.20 December 28, 2019 84.1 $ 43.86 Expected to vest 79.8 $ 43.72 |
Accounting Policies (Detail)
Accounting Policies (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 28, 2019 | Dec. 29, 2018 | |
Production Related Impairments or Charges [Abstract] | ||
PRQ Max | $ 870 | |
Credit Concentration Risk [Member] | ||
Revenue, Major Customer [Line Items] | ||
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure | $ 800 | |
Credit Concentration Risk [Member] | Accounts Receivable [Member] | ||
Revenue, Major Customer [Line Items] | ||
Concentration Risk, Percentage | 39.00% | 45.00% |
Maximum [Member] | ||
Revenue, Major Customer [Line Items] | ||
Manufacturing Costs | $ 1,100 |
Recent Accounting Standards (De
Recent Accounting Standards (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | Dec. 30, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Lessee, Operating Lease, Liability, Payments, Due Year Two | $ 178 | $ 229 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 181 | |||
Operating Leases, Future Minimum Payments, Due in Three Years | 133 | |||
Operating Leases, Future Minimum Payments, Due in Four Years | 101 | |||
Operating Leases, Future Minimum Payments, Due in Five Years | 70 | |||
Operating Leases, Future Minimum Payments, Due Thereafter | 121 | |||
Operating Leases, Future Minimum Payments Due | 835 | |||
Operating Lease, Weighted Average Discount Rate, Percent | 3.40% | |||
Other Liabilities, Noncurrent | $ 2,916 | 2,646 | ||
Operating Leases, Rent Expense | $ 231 | $ 264 | ||
Operating Lease, Liability | $ 549 | |||
Lessor, Operating Lease, Renewal Term | 39 years | |||
Operating Lease, Weighted Average Remaining Lease Term | 4 years 8 months 12 days | |||
Operating Lease, Expense | $ 185 | |||
Operating Leases, Future Minimum Payments, Due in Two Years | 135 | |||
Operating Leases, Future Minimum Payments, Due in Three Years | 97 | |||
Operating Leases, Future Minimum Payments, Due in Four Years | 74 | |||
Operating Leases, Future Minimum Payments, Due in Five Years | 54 | |||
Operating Leases, Future Minimum Payments, Due Thereafter | 57 | |||
Operating Leases, Future Minimum Payments Due | $ 595 | |||
Minimum [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Lessee, Operating Lease, Term of Contract | 1 year | |||
Maximum [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Lessee, Operating Lease, Term of Contract | 9 years | |||
Accounting Standards Update 2016-02 [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Other Liabilities, Noncurrent | $ 445 | |||
Prepaid Land Use Rights | 81 | |||
Accrued Liabilities | 180 | |||
Other Long-Term Assets [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating Lease, Right-of-Use Asset | $ 628 | |||
Other Long-Term Assets [Member] | Accounting Standards Update 2016-02 [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating Lease, Right-of-Use Asset | $ 706 | |||
Accrued Liabilities [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating Lease, Liability | 175 | |||
Other Long-Term Liabilities [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating Lease, Liability | $ 375 |
Operating Segments and Geograph
Operating Segments and Geographic Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Segment Reporting Information [Line Items] | |||
Net revenue | $ 71,965 | $ 70,848 | $ 62,761 |
Operating Income (Loss) | 22,035 | 23,316 | 18,050 |
InternetofThings [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 4,700 | ||
Operating Income (Loss) | 1,342 | 1,123 | 622 |
IOTG Platform [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 3,440 | 3,065 | 2,645 |
DCG Platform [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 21,441 | 21,155 | 17,439 |
CCG Notebook Platform [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 20,779 | 20,930 | 19,414 |
CCG Desktop Platform [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 11,822 | 12,220 | 11,647 |
Other Platform [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 80 | 84 | 165 |
Other Product Or Service [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 14,403 | 13,394 | 10,917 |
Platform [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 57,562 | 57,454 | 51,310 |
Data Center Group [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 23,481 | 22,991 | 19,064 |
Operating Income (Loss) | 10,227 | 11,476 | 8,395 |
Data Center Group [Member] | Other Product Or Service [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 2,040 | 1,836 | 1,625 |
Internet of Things Group [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 3,821 | ||
Operating Income (Loss) | 1,097 | 980 | 650 |
Internet of Things Group [Member] | InternetofThings [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 4,153 | 3,379 | |
Internet of Things Group [Member] | Other Product Or Service [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 698 | 210 | |
Internet of Things Group [Member] | Platform [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 3,455 | 3,169 | |
Mobileye [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 879 | ||
Operating Income (Loss) | 245 | 143 | (28) |
Non-Volatile Memory Solutions Group [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 4,362 | 4,307 | 3,520 |
Operating Income (Loss) | (1,176) | (5) | (260) |
Intel Security Group [Member] | Other Product Or Service [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 0 | 0 | 534 |
Programmable Solutions Group [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 1,987 | 2,123 | 1,902 |
Operating Income (Loss) | 318 | 466 | 458 |
Client Computing Group [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 37,146 | 37,004 | 34,003 |
Operating Income (Loss) | 15,202 | 14,222 | 12,919 |
Client Computing Group [Member] | Other Product Or Service [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 4,465 | 3,770 | 2,777 |
Client Computing Group [Member] | Platform [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 32,681 | 33,234 | 31,226 |
All other [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenue | 289 | 270 | 893 |
Operating Income (Loss) | $ (3,878) | $ (3,966) | $ (4,084) |
Operating Segments and Geogra_2
Operating Segments and Geographic Information, Revenue by Major Customers (Detail) | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration Risk, Percentage | 41.00% | 39.00% | 40.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Dell Inc. [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration Risk, Percentage | 17.00% | 16.00% | 16.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Lenovo Group Limited [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration Risk, Percentage | 13.00% | 12.00% | 13.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | HP Inc. [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration Risk, Percentage | 11.00% | 11.00% | 11.00% |
Credit Concentration Risk [Member] | Accounts Receivable [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration Risk, Percentage | 39.00% | 45.00% |
Operating Segments and Geogra_3
Operating Segments and Geographic Information, Revenues from External Customers by Country (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net revenue | $ 71,965 | $ 70,848 | $ 62,761 |
China (Including Hong Kong) [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net revenue | 20,026 | 18,824 | 14,796 |
Singapore [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net revenue | 15,650 | 15,409 | 14,285 |
UNITED STATES | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net revenue | 15,617 | 14,303 | 12,543 |
Taiwan [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net revenue | 10,058 | 10,646 | 10,518 |
Other Countries [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net revenue | $ 10,614 | $ 11,666 | $ 10,619 |
Earnings Per Share (Detail)
Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Net Income | $ 21,048 | $ 21,053 | $ 9,601 |
Weighted average shares of common stock outstanding-basic | 4,417 | 4,611 | 4,701 |
Dilutive effect of employee equity incentive plans (shares) | 41 | 50 | 47 |
Dilutive effect of convertible debt (shares) | 15 | 40 | 87 |
Weighted average shares of common stock outstanding-diluted | 4,473 | 4,701 | 4,835 |
Earnings per share—Basic | $ 4.77 | $ 4.57 | $ 2.04 |
Earnings per share—Diluted | $ 4.71 | $ 4.48 | $ 1.99 |
Contract Liabilities (Details)
Contract Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 28, 2019 | Dec. 29, 2018 | |
Capitalized Contract Cost [Line Items] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,800 | |
Contract with Customer, Liability | 2,041 | $ 2,709 |
Prepaid Supply Agreements [Member] | ||
Capitalized Contract Cost [Line Items] | ||
Contract with Customer, Liability | 1,805 | 2,587 |
Contract with Customer, Liability, Revenue Recognized | (782) | |
Software, Services and Other [Member] | ||
Capitalized Contract Cost [Line Items] | ||
Contract with Customer, Liability | $ 236 | $ 122 |
Other Financial Statement Det_3
Other Financial Statement Details Inventories (Details) - USD ($) $ in Millions | Dec. 28, 2019 | Dec. 29, 2018 |
Inventory, Net [Abstract] | ||
Raw materials | $ 840 | $ 813 |
Work in process | 6,225 | 4,511 |
Finished goods | 1,679 | 1,929 |
Total inventories | $ 8,744 | $ 7,253 |
Other Financial Statement Det_4
Other Financial Statement Details Property, Plant and Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 28, 2019 | Dec. 29, 2018 | |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 128,707 | $ 114,318 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | (73,321) | (65,342) |
Property, plant and equipment, net | 55,386 | 48,976 |
UNITED STATES | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 35,262 | 27,512 |
ISRAEL | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 8,463 | 8,861 |
CHINA | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 5,315 | 6,417 |
IRELAND | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 3,854 | 3,947 |
Other Countries [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, net | 2,492 | 2,239 |
Land and Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 37,743 | 30,954 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 74,901 | 66,721 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 16,063 | $ 16,643 |
Minimum [Member] | Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 2 years | |
Minimum [Member] | Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 10 years | |
Maximum [Member] | Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 5 years | |
Maximum [Member] | Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 30 years |
Other Financial Statement Det_5
Other Financial Statement Details Other Long-Term Assets (Details) - USD ($) $ in Millions | Dec. 28, 2019 | Dec. 29, 2018 |
Other Financial Statement Details [Abstract] | ||
Non-current deferred tax assets | $ 1,209 | $ 1,122 |
Pre-payments for property, plant and equipment | 1,641 | 1,507 |
Loans receivable | 554 | 479 |
Other | 2,149 | 1,313 |
Total other long-term assets | $ 5,553 | $ 4,421 |
Other Financial Statement Det_6
Other Financial Statement Details Other Accrued Liabilities (Details) - USD ($) $ in Billions | Dec. 28, 2019 | Dec. 29, 2018 |
Statement of Financial Position [Abstract] | ||
Deferred compensation liabilities | $ 2.1 | $ 1.7 |
Other Financial Statement Det_7
Other Financial Statement Details Advertising (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Income Statement [Abstract] | |||
Advertising Expense | $ 832 | $ 1,200 | $ 1,400 |
Other Financial Statement Det_8
Other Financial Statement Details Interest and Other, Net (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Other Nonoperating Income (Expense) [Abstract] | |||
Interest income | $ 483 | $ 438 | $ 441 |
Interest expense | (489) | (468) | (646) |
Other, net | 490 | 156 | (144) |
Total Interest and other, net | 484 | 126 | (349) |
Interest Costs, Capitalized During Period | $ 472 | $ 496 | $ 313 |
Restructuring and Other Charg_3
Restructuring and Other Charges (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and other charges | $ 393 | $ (72) | $ 384 |
ISecG separation costs and other charges | 0 | 0 | 249 |
Restructuring and Related Cost, Incurred Cost | 393 | ||
2019 Restructuring Program [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and other charges | 0 | 0 | |
Restructuring and Related Cost, Incurred Cost | 393 | ||
2019 Restructuring Program [Member] | Employee severance and benefits arrangements [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and Related Cost, Incurred Cost | 280 | ||
2019 Restructuring Program [Member] | Other Restructuring [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and Related Cost, Incurred Cost | 113 | ||
2016 Restructuring Program [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and other charges | $ 0 | $ (72) | $ 135 |
Income Taxes (Detail)
Income Taxes (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Income Tax Disclosure [Abstract] | |||
Income before taxes: U.S. | $ 13,729 | $ 14,753 | $ 11,141 |
Income before taxes: Non-U.S. | 10,329 | 8,564 | 9,211 |
Income before taxes | 24,058 | 23,317 | 20,352 |
Provision for taxes, Current: Federal | 1,391 | 2,786 | 8,307 |
Provision for taxes, Current: State | 37 | (11) | 27 |
Provision for taxes, Current: Non-U.S. | 1,060 | 1,097 | 899 |
Total current provision for taxes | 2,488 | 3,872 | 9,233 |
Provision for taxes, Deferred: Federal | 597 | (1,389) | 1,680 |
Deferred Other Tax Expense (Benefit) | (75) | (219) | (162) |
Total deferred provision for taxes | 522 | (1,608) | 1,518 |
Total Provision for taxes | $ 3,010 | $ 2,264 | $ 10,751 |
Effective tax rate | 12.50% | 9.70% | 52.80% |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||
Statutory federal income tax rate | 21.00% | 21.00% | 35.00% |
Increase (reduction) in rate resulting from: Non-U.S. income taxed at different rates | (3.70%) | (3.60%) | (7.60%) |
Increase (reduction) in rate resulting from: Research and Development tax credits | (2.30%) | (2.70%) | (2.30%) |
Increase (reduction) in rate resulting from: Domestic manufacturing deduction benefit | 0.00% | 0.00% | (1.30%) |
Income Tax Reconciliation, Transition Tax for Accumulated Foreign Earnings | (3.20%) | (3.70%) | 0.00% |
Effective Income Tax Rate Reconciliation, Transition Tax for Accumulated Foreign Earnings, Percent | 0.00% | (1.30%) | 26.80% |
Increase (reduction) in rate resulting from: Disposition of Business | 0.00% | 0.00% | 3.30% |
Increase (reduction) in rate resulting from: Other | 0.70% | (0.10%) | (1.10%) |
Effective tax rate | 12.50% | 9.70% | 52.80% |
Income Tax Disclosure [Line Items] | |||
Statutory federal income tax rate | 21.00% | 21.00% | 35.00% |
Increase (reduction) in rate resulting from: Non-U.S. income taxed at different rates | (3.70%) | (3.60%) | (7.60%) |
Income Tax Holiday, Termination Date | 2026 | ||
Income Tax Expense (Benefit) | $ 3,010 | $ 2,264 | $ 10,751 |
Undistributed earnings on certain foreign subsidiaries | 22,000 | ||
Accrued Income Taxes, Current | 575 | 366 | |
Long-term income taxes payable | 4,919 | 4,897 | |
Income Taxes Receivable, Current | 76 | 162 | |
Components of Deferred Tax Assets and Liabilities [Abstract] | |||
Deferred tax assets, Accrued compensation and other benefits | 740 | 570 | |
Deferred tax assets, Share-based compensation | 294 | 273 | |
Deferred tax assets, Inventory | 760 | 517 | |
Deferred tax assets, State credits and net operating losses | 1,511 | 1,297 | |
Deferred tax assets, Other, net | 515 | 512 | |
Gross deferred tax assets | 3,820 | 3,169 | |
Deferred tax assets, Valuation allowance | (1,534) | (1,302) | |
Total deferred tax assets | 2,286 | 1,867 | |
Deferred tax liabilities, Property, plant and equipment | (1,807) | (878) | |
Deferred tax liabilities, Licenses and intangibles | (720) | (744) | |
Deferred tax liabilities, Convertible debt | (88) | (204) | |
Deferred Tax Liabilities, Unrealized Gains On Investments And Derivatives | (292) | (266) | |
Deferred tax liabilities, Other, net | (214) | (318) | |
Total deferred tax liabilities | (3,121) | (2,410) | |
Net deferred tax assets (liabilities) | (835) | (543) | |
Deferred tax assets | 1,209 | 1,122 | |
Deferred tax liabilities | (2,044) | (1,665) | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits, Gross, Beginning Balance | 283 | 211 | |
Unrecognized tax benefits, Gross, Ending Balance | 548 | 283 | $ 211 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 454 | 178 | |
Estimated decrease to unrecognized tax benefits | 300 | ||
Operating Loss Carryforwards [Line Items] | |||
Valuation Allowance, Amount | (1,534) | $ (1,302) | |
Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards | 427 | ||
Non-U.S. [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards | $ 357 | ||
Minimum [Member] | |||
Income Tax Disclosure [Line Items] | |||
Effective Income Tax Rate Reconciliation, at Foreign Statutory Income Tax Rate, Percent | 12.50% | ||
Maximum [Member] | |||
Income Tax Disclosure [Line Items] | |||
Effective Income Tax Rate Reconciliation, at Foreign Statutory Income Tax Rate, Percent | 25.00% |
Income Taxes - Valuation Allowa
Income Taxes - Valuation Allowance (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | Dec. 31, 2016 | |
Income Tax Contingency [Line Items] | ||||
Unrealized state credit carryforwards | $ 1,500 | |||
Undistributed earnings on certain foreign subsidiaries | 22,000 | |||
Balance at Beginning of Year | 1,302 | |||
Balance at End of Year | 1,534 | $ 1,302 | ||
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net (Deductions) Recoveries | (7) | (54) | $ (19) | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount | 1,534 | 1,302 | 1,171 | $ 953 |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Increase (Decrease) Adjustment | $ 239 | $ 185 | $ 237 |
Investments, Available For Sale
Investments, Available For Sale Investments (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Debt Securities, Available-for-sale [Line Items] | |||
Adjusted Cost | $ 6,481 | $ 7,213 | |
Gross Unrealized Gains | 63 | 6 | |
Gross Unrealized Losses | (1) | (48) | |
Fair Value | 6,543 | 7,171 | |
Due in 1 year or less | 2,203 | ||
Due in 1–2 years | 1,065 | ||
Due in 2–5 years | 2,171 | ||
Due after 5 years | 40 | ||
Instruments not due at a single maturity date | 1,064 | ||
Equity method investments | 37 | 1,624 | |
Debt Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Trading Securities, Change in Unrealized Holding Gain (Loss) | 26 | (188) | $ 414 |
Unrealized Gain (Loss) on Derivatives | 22 | 163 | $ (422) |
Corporate debt | |||
Debt Securities, Available-for-sale [Line Items] | |||
Adjusted Cost | 2,914 | 3,068 | |
Gross Unrealized Gains | 44 | 2 | |
Gross Unrealized Losses | 0 | (28) | |
Fair Value | 2,958 | 3,042 | |
Financial institution instruments | |||
Debt Securities, Available-for-sale [Line Items] | |||
Adjusted Cost | 3,007 | 3,076 | |
Gross Unrealized Gains | 15 | 3 | |
Gross Unrealized Losses | (1) | (11) | |
Fair Value | 3,021 | 3,068 | |
Government debt | |||
Debt Securities, Available-for-sale [Line Items] | |||
Adjusted Cost | 560 | 1,069 | |
Gross Unrealized Gains | 4 | 1 | |
Gross Unrealized Losses | 0 | (9) | |
Fair Value | $ 564 | $ 1,061 |
Investments Investments, Equity
Investments Investments, Equity Investments (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Sep. 29, 2018 | Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | Dec. 26, 2015 | |
Schedule of Investments [Line Items] | |||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | $ 2,688,000,000 | $ 2,802,000,000 | $ 5,236,000,000 | ||
Marketable equity securities | 450,000,000 | 1,440,000,000 | |||
Non-marketable equity securities | 3,480,000,000 | 2,978,000,000 | |||
Equity method investments | 37,000,000 | 1,624,000,000 | |||
Total | 3,967,000,000 | 6,042,000,000 | |||
Ongoing mark-to-market adjustments on marketable equity securities | 277,000,000 | (129,000,000) | 0 | ||
Observable price adjustments on non-marketable equity securities | (293,000,000) | (202,000,000) | 0 | ||
Impairment charges | (122,000,000) | (424,000,000) | (833,000,000) | ||
Sale of equity investments and other | 1,091,000,000 | 226,000,000 | 3,484,000,000 | ||
Gain (Loss) on Investments | 1,539,000,000 | (125,000,000) | 2,651,000,000 | ||
Net gains (losses) recognized during the period on equity securities | 734,000,000 | 298,000,000 | |||
Less: Net (gains) losses recognized during the period on equity securities sold during the period | (424,000,000) | (445,000,000) | |||
Unrealized gains (losses) recognized during the period on equity securities still held at the reporting date | 310,000,000 | (147,000,000) | |||
Equity method investee losses | 0 | (153,000,000) | (223,000,000) | ||
Cloudera, Inc. [Member] | |||||
Schedule of Investments [Line Items] | |||||
Impairment on equity method investments | $ 278,000,000 | ||||
Beijing UniSpreadtrum Technology Ltd [Member] | |||||
Schedule of Investments [Line Items] | |||||
Equity method investments | $ 966,000,000 | ||||
Impairment charges | (308,000,000) | ||||
IM Flash Technologies, LLC [Member] | |||||
Schedule of Investments [Line Items] | |||||
Equity Method Investment, Ownership Percentage | 49.00% | ||||
Equity method investments | 1,600,000,000 | ||||
Impairment on equity method investments | $ 290,000,000 | ||||
McAfee [Member] | |||||
Schedule of Investments [Line Items] | |||||
Equity Method Investment, Ownership Percentage | 49.00% | ||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | $ 632,000,000 | 735,000,000 | |||
Equity method investments | 0 | ||||
ASML Holding N.V. [Member] | |||||
Schedule of Investments [Line Items] | |||||
Marketable equity securities | 1,100,000,000 | ||||
Equity method investee losses | 3,400,000,000 | ||||
Cost-method Investments [Member] | |||||
Schedule of Investments [Line Items] | |||||
Impairment charges | $ (122,000,000) | $ (132,000,000) | $ (555,000,000) |
Investments, Equity Method and
Investments, Equity Method and Cost Method Investments (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Dec. 28, 2019 | Sep. 29, 2018 | Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | Dec. 26, 2015 | |
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | $ 37 | $ 37 | $ 1,624 | |||
Proceeds from Equity Method Investment, Distribution, Return of Capital | 2,688 | 2,802 | $ 5,236 | |||
Impairments | $ 122 | 424 | 833 | |||
IM Flash Technologies, LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Impairment on equity method investments | $ 290 | |||||
Equity method investments | 1,600 | |||||
Equity Method Investment, Ownership Percentage | 49.00% | 49.00% | ||||
Proportionate share of equity method investment costs | $ 550 | $ 550 | 494 | 415 | ||
Cash proceeds from sale of equity method investment | 1,700 | |||||
Gain on sale of equity method investment | 107 | |||||
McAfee [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | $ 0 | $ 0 | ||||
Equity Method Investment, Ownership Percentage | 49.00% | 49.00% | ||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | $ 632 | 735 | ||||
Cloudera, Inc. [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Impairment on equity method investments | 278 | |||||
Beijing UniSpreadtrum Technology Ltd [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | $ 966 | |||||
Impairments | 308 | |||||
Cost-method Investments [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Impairments | $ 122 | $ 132 | $ 555 |
Investments, Non-Marketable Cos
Investments, Non-Marketable Cost Method Investments (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | Dec. 26, 2015 | |
Gain (Loss) on Securities [Line Items] | ||||
Non-marketable equity securities | $ 37 | $ 1,624 | ||
Impairments | 122 | 424 | $ 833 | |
Cost-method Investments [Member] | ||||
Gain (Loss) on Securities [Line Items] | ||||
Impairments | $ 122 | $ 132 | 555 | |
Beijing UniSpreadtrum Technology Ltd [Member] | ||||
Gain (Loss) on Securities [Line Items] | ||||
Non-marketable equity securities | $ 966 | |||
Impairments | 308 | |||
Additional required investment funding | $ 500 |
Investments, Trading Assets (De
Investments, Trading Assets (Detail) - Debt Securities [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||
Trading Securities, Change in Unrealized Holding Gain (Loss) | $ 26 | $ (188) | $ 414 |
Unrealized Gain (Loss) on Derivatives | $ 22 | $ 163 | $ (422) |
Acquisitions (Details)
Acquisitions (Details) $ in Millions | Dec. 12, 2019USD ($) | Dec. 29, 2018USD ($)Acquisition | Dec. 28, 2019USD ($) | Dec. 19, 2019USD ($) | Dec. 30, 2017USD ($) |
Business Acquisition [Line Items] | |||||
Goodwill | $ 24,513 | $ 26,276 | $ 24,389 | ||
Series of Individually Immaterial Business Acquisitions [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of businesses acquired | Acquisition | 5 | ||||
Habana Labs [Member] | |||||
Business Acquisition [Line Items] | |||||
Total consideration to acquire business | $ 1,700 | ||||
Goodwill | $ 1,500 | ||||
Acquisition-related intangible assets | $ 250 |
Divestitures (Details)
Divestitures (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Proceeds from Divestiture of Businesses | $ 911 | $ 548 | $ 3,124 |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | 690 | 497 | 387 |
Current Income Tax Expense (Benefit) | 2,488 | 3,872 | 9,233 |
Smartphone Modem Business [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Proceeds from Divestiture of Businesses | 267 | ||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 690 | ||
Wind River Systems, Inc. [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 494 | ||
Intel Security Group [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | 387 | ||
Current Income Tax Expense (Benefit) | 822 | ||
Intel Security Group [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Disposal Group, Including Discontinued Operation, Foreign Currency Translation Gains (Losses) | $ 507 |
Goodwill (Detail)
Goodwill (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 28, 2019 | Dec. 29, 2018 | |
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | $ 24,513 | $ 24,389 |
Goodwill, Acquisitions | 1,825 | 162 |
Goodwill, Transfers | 0 | 0 |
Goodwill, Other | (62) | (38) |
Goodwill, Ending Balance | 26,276 | 24,513 |
Goodwill, Impaired, Accumulated Impairment Loss | 719 | |
Client Computing Group [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 4,403 | 4,356 |
Goodwill, Acquisitions | 0 | 47 |
Goodwill, Transfers | 0 | 0 |
Goodwill, Other | (70) | 0 |
Goodwill, Ending Balance | 4,333 | 4,403 |
Goodwill, Impaired, Accumulated Impairment Loss | 365 | |
Data Center Group [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 5,424 | 5,421 |
Goodwill, Acquisitions | 1,758 | 3 |
Goodwill, Transfers | 0 | 0 |
Goodwill, Other | 0 | 0 |
Goodwill, Ending Balance | 7,155 | 5,424 |
Goodwill, Impaired, Accumulated Impairment Loss | 275 | |
Internet of Things Group [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 1,579 | 1,126 |
Goodwill, Acquisitions | 0 | 16 |
Goodwill, Transfers | 0 | 480 |
Goodwill, Other | 0 | (43) |
Goodwill, Ending Balance | 1,579 | 1,579 |
Goodwill, Impaired, Accumulated Impairment Loss | 79 | |
Mobileye [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 10,290 | 10,278 |
Goodwill, Acquisitions | 0 | 7 |
Goodwill, Transfers | 0 | 0 |
Goodwill, Other | 0 | 5 |
Goodwill, Ending Balance | 10,290 | 10,290 |
Programmable Solutions Group [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 2,579 | 2,490 |
Goodwill, Acquisitions | 67 | 89 |
Goodwill, Transfers | 0 | 0 |
Goodwill, Other | 8 | 0 |
Goodwill, Ending Balance | 2,681 | 2,579 |
All other [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 238 | 718 |
Goodwill, Acquisitions | 0 | 0 |
Goodwill, Transfers | 0 | (480) |
Goodwill, Other | 0 | 0 |
Goodwill, Ending Balance | $ 238 | 238 |
Scenario, Adjustment [Member] | Internet of Things Group [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Transfers | $ 480 |
Identified Intangible Assets (D
Identified Intangible Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Finite Lived Intangible Assets [Line Items] | |||
Gross Assets, Finite-lived Intangible Assets | $ 16,791 | $ 16,790 | |
Accumulated Amortization | (5,964) | (4,954) | |
Net | 8,578 | ||
Total identified intangible assets | 10,827 | 11,836 | |
Amortization of intangibles | 1,622 | 1,565 | $ 1,377 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
Future Amortization Expense, 2020 | 1,652 | ||
Future Amortization Expense, 2021 | 1,567 | ||
Future Amortization Expense, 2022 | 1,443 | ||
Future Amortization Expense, 2023 | 1,344 | ||
Future Amortization Expense, 2024 | 996 | ||
Future Amortization Expense, Thereafter | 1,576 | ||
Total | 8,578 | ||
Acquisition-related Developed Technology [Member] | |||
Finite Lived Intangible Assets [Line Items] | |||
Gross Assets, Finite-lived Intangible Assets | 9,407 | 9,611 | |
Accumulated Amortization | (3,801) | (3,021) | |
Net | $ 5,606 | 6,590 | |
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life (in years) | 9 years | ||
Amortization of intangibles | $ 1,124 | 1,105 | 912 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
Total | 5,606 | 6,590 | |
Acquisition-related Customer Relationships and Brands [Member] | |||
Finite Lived Intangible Assets [Line Items] | |||
Gross Assets, Finite-lived Intangible Assets | 2,160 | 2,179 | |
Accumulated Amortization | (708) | (527) | |
Net | $ 1,452 | 1,652 | |
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life (in years) | 11 years | ||
Amortization of intangibles | $ 200 | 200 | 177 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
Total | 1,452 | 1,652 | |
Licensed Technology and Patents [Member] | |||
Finite Lived Intangible Assets [Line Items] | |||
Gross Assets, Finite-lived Intangible Assets | 2,975 | 2,932 | |
Accumulated Amortization | (1,455) | (1,406) | |
Net | $ 1,520 | 1,526 | |
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life (in years) | 12 years | ||
Amortization of intangibles | $ 298 | 260 | $ 288 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
Total | 1,520 | 1,526 | |
In Process Research and Development [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Gross assets, Indefinite-Lived Intangible Assets | 1,664 | 1,497 | |
Other Intangible Assets [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Gross assets, Indefinite-Lived Intangible Assets | $ 585 | $ 571 |
Borrowings, Short-term Debt (De
Borrowings, Short-term Debt (Detail) - USD ($) | Dec. 28, 2019 | Dec. 29, 2018 |
Short-term Debt [Line Items] | ||
Commercial paper and drafts payable | $ 500,000,000 | |
Current portion of long-term debt | $ 3,695,000,000 | 761,000,000 |
Total short-term debt | 3,693,000,000 | $ 1,261,000,000 |
Commercial Paper [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000,000 |
Borrowings, Long-term Debt (Det
Borrowings, Long-term Debt (Detail) | 1 Months Ended | 12 Months Ended | ||
Nov. 30, 2019USD ($) | Dec. 28, 2019USD ($)Trading_day$ / sharesshares | Dec. 29, 2018USD ($)$ / sharesshares | Dec. 30, 2017USD ($) | |
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 3.42% | |||
Long-term Debt, Gross | $ 28,751,000,000 | $ 27,140,000,000 | ||
Long-term debt | (3,695,000,000) | (761,000,000) | ||
Total long-term debt | 25,308,000,000 | 25,098,000,000 | ||
Derivative, notional amount | 40,036,000,000 | 43,026,000,000 | $ 38,417,000,000 | |
Long-term Debt, Fair Value | 30,600,000,000 | 27,100,000,000 | ||
Debt Instrument, Face Amount | 2,800,000,000 | |||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | (529,000,000) | (891,000,000) | ||
Long-term Debt | 29,003,000,000 | 25,859,000,000 | ||
Temporary equity | 155,000,000 | 419,000,000 | ||
Year Payable, 2018 | 3,450,000,000 | |||
Year Payable, 2019 | 2,500,000,000 | |||
Year Payable, 2020 | 4,432,000,000 | |||
Year Payable, 2021 | 400,000,000 | |||
Year Payable, 2022 | 1,850,000,000 | |||
2022 and thereafter | $ 16,119,000,000 | |||
Commercial paper and drafts payable | 500,000,000 | |||
2017 Senior notes due May 2020 at .08% [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.08% | |||
Debt Instrument, Interest Rate, Effective Percentage | 2.56% | |||
Long-term Debt, Gross | $ 700,000,000 | 700,000,000 | ||
2017 Senior notes due May 2022 at .35% [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.35% | |||
Debt Instrument, Interest Rate, Effective Percentage | 2.82% | |||
Long-term Debt, Gross | $ 800,000,000 | 800,000,000 | ||
2015 AUD-denominated Senior notes due December 2019 at 3.25% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 3.25% | |||
Debt Instrument, Interest Rate, Effective Percentage | 0.00% | |||
Long-term Debt, Gross | $ 0 | 177,000,000 | ||
2017 Senior notes due May 2020 at 1.85% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 1.85% | |||
Debt Instrument, Interest Rate, Effective Percentage | 1.89% | |||
Long-term Debt, Gross | $ 1,000,000,000 | 1,000,000,000 | ||
2015 Senior notes due July 2020 at 2.45% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.45% | |||
Debt Instrument, Interest Rate, Effective Percentage | 2.49% | |||
Long-term Debt, Gross | $ 1,750,000,000 | 1,750,000,000 | ||
2016 Senior notes due May 2021 at 1.70% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 1.70% | |||
Debt Instrument, Interest Rate, Effective Percentage | 1.79% | |||
Long-term Debt, Gross | $ 500,000,000 | 500,000,000 | ||
2011 Senior notes due October 2021 at 3.30% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 3.30% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.71% | |||
Long-term Debt, Gross | $ 2,000,000,000 | 2,000,000,000 | ||
2017 Senior notes due May 2022 at 2.35% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.35% | |||
Debt Instrument, Interest Rate, Effective Percentage | 2.74% | |||
Long-term Debt, Gross | $ 750,000,000 | 750,000,000 | ||
2015 Senior notes due July 2022 at 3.10% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 3.10% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.50% | |||
Long-term Debt, Gross | $ 1,000,000,000 | 1,000,000,000 | ||
2015 Senior notes due December 2022 at 4.00% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 4.00% | |||
Debt Instrument, Interest Rate, Effective Percentage | 2.97% | |||
Long-term Debt, Gross | $ 382,000,000 | 389,000,000 | ||
2012 Senior notes due December 2022 at 2.70% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.70% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.09% | |||
Long-term Debt, Gross | $ 1,500,000,000 | 1,500,000,000 | ||
2016 Altera acquired Senior notes due November 2023 at 4.10% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 4.10% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.22% | |||
Long-term Debt, Gross | $ 400,000,000 | 400,000,000 | ||
2017 Senior notes due May 2024 at 2.88% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.88% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.07% | |||
Long-term Debt, Gross | $ 1,250,000,000 | 1,250,000,000 | ||
2017 Senior notes due June 2024 at 2.70% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.70% | |||
Debt Instrument, Interest Rate, Effective Percentage | 2.84% | |||
Long-term Debt, Gross | $ 600,000,000 | 600,000,000 | ||
2015 Senior notes due July 2025 at 3.70% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 3.70% | |||
Debt Instrument, Interest Rate, Effective Percentage | 4.44% | |||
Long-term Debt, Gross | $ 2,250,000,000 | 2,250,000,000 | ||
2016 Senior notes due May 2026 at 2.60% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.60% | |||
Debt Instrument, Interest Rate, Effective Percentage | 2.91% | |||
Long-term Debt, Gross | $ 1,000,000,000 | 1,000,000,000 | ||
2017 Senior notes due May 2027 at 3.15% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 3.15% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.48% | |||
Long-term Debt, Gross | $ 1,000,000,000 | 1,000,000,000 | ||
2019 Senior Notes due December 2029 at 2.45% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.45% | |||
Debt Instrument, Interest Rate, Effective Percentage | 2.48% | |||
Long-term Debt, Gross | $ 1,250,000,000 | 0 | ||
2012 Senior notes due December 2032 at 4.00% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 4.00% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.56% | |||
Long-term Debt, Gross | $ 750,000,000 | 750,000,000 | ||
2011 Senior notes due October 2041 at 4.80% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 4.80% | |||
Debt Instrument, Interest Rate, Effective Percentage | 4.31% | |||
Long-term Debt, Gross | $ 802,000,000 | 802,000,000 | ||
2012 Senior notes due December 2042 at 4.25% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 4.25% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.74% | |||
Long-term Debt, Gross | $ 567,000,000 | 567,000,000 | ||
2015 Senior notes due July 2045 at 4.90% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 4.90% | |||
Debt Instrument, Interest Rate, Effective Percentage | 4.41% | |||
Long-term Debt, Gross | $ 772,000,000 | 772,000,000 | ||
2015 Senior notes due December 2045 at 4.70% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 4.70% | |||
Debt Instrument, Interest Rate, Effective Percentage | 0.00% | |||
Long-term Debt, Gross | $ 0 | 915,000,000 | ||
Debt Instrument, Repurchased Face Amount | $ 915,000,000 | |||
Industrial Authority of the City of Chandler, Arizona [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 2.48% | |||
Long-term Debt, Gross | $ 438,000,000 | 0 | ||
2016 Senior notes due May 2046 at 4.10% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 4.10% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.68% | |||
Long-term Debt, Gross | $ 1,250,000,000 | 1,250,000,000 | ||
2017 Senior notes due May 2047 at 4.10% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 4.10% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.64% | |||
Long-term Debt, Gross | $ 1,000,000,000 | 1,000,000,000 | ||
$640, 4.10%, Senior Notes due August 2047 [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 4.10% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.20% | |||
Long-term Debt, Gross | $ 640,000,000 | 640,000,000 | ||
2017 Senior notes due December 2047 at 3.73% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 3.73% | |||
Debt Instrument, Interest Rate, Effective Percentage | 4.07% | |||
Long-term Debt, Gross | $ 1,967,000,000 | 1,967,000,000 | ||
2019 Senior Notes due December 2049 at 3.25% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 3.25% | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.26% | |||
Long-term Debt, Gross | $ 1,500,000,000 | 0 | ||
Industrial Authority of the City of Chandler, Arizona, 2.70% due December 2035 [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.70% | |||
Oregon and Arizona Bonds [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 2.48% | |||
Long-term Debt, Gross | $ 423,000,000 | 423,000,000 | ||
State of Oregon Business Development Commission [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 2.88% | |||
Long-term Debt, Gross | $ 138,000,000 | 0 | ||
State of Oregon Business Development Commission, 2.40% due December 2035 [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.40% | |||
State of Oregon Business Development Commission, 5.00% due March 2049 [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 5.00% | |||
Industrial Authority of the City of Chandler, Arizona, 5.00% due June 2049 [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 5.00% | |||
Junior Subordinate due August 2039 at 3.25% [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 3.25% | |||
Repayments of Debt | $ 372,000,000 | $ 1,500,000,000 | ||
Conversion obligation | $ 615,000,000 | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.37% | |||
Long-term Debt, Gross | $ 372,000,000 | 988,000,000 | ||
Convertible Subordinated Debt | 372,000,000 | 988,000,000 | ||
Long-term debt | (217,000,000) | (569,000,000) | ||
Gain (Loss) on Extinguishment of Debt | 156,000,000 | |||
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | $ 1,000,000,000 | |||
Company Stock As Percentage Of Conversion Price, Surrender For Conversion | 130.00% | |||
Debt Instrument, Convertible, Threshold Trading Days | Trading_day | 20 | |||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | Trading_day | 30 | |||
Company Stock As Percentage Of Conversion Price, Redemption Of Principal | 150.00% | |||
Trading Days During Thirty Day Period In Which Company Stock Has Been At Least One Hundred-Fifty Percent Of Conversion Price, Redemption Of Principal | 20 days | |||
Trading Day Period Prior To Notice of Redemption Date, Redemption Of Principal | 30 days | |||
Debt Instrument, Unamortized Discount | $ 155,000,000 | 419,000,000 | ||
Long-term Debt | $ 217,000,000 | $ 569,000,000 | ||
Conversion rate (shares of common stock per $1,000 principal amount of debentures) | shares | 49.69 | 49.01 | ||
Effective conversion price (per share of common stock) | $ / shares | $ 20.13 | $ 20.40 | ||
Cross Currency Interest Rate Contract [Member] | 2015 AUD-denominated Senior notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Derivative, notional amount | $ 577,000,000 | |||
Fair Value Hedging [Member] | Interest Rate Swaps [Member] | ||||
Debt Instrument [Line Items] | ||||
Derivative, notional amount | $ 7,100,000,000 | $ 4,800,000,000 | ||
Derivative, Gain (Loss) on Derivative, Net | 681,000,000 | (390,000,000) | ||
Fair Value Hedging [Member] | Long-term Debt [Member] | Interest Rate Swaps [Member] | ||||
Debt Instrument [Line Items] | ||||
Derivative, Amount of Hedged Item | 12,000,000,000 | 20,000,000,000 | ||
Derivative, Gain (Loss) on Derivative, Net | $ 781,000,000 | (390,000,000) | ||
Unsecured Debt [Member] | Industrial Authority of the City of Chandler, Arizona [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 5.00% | |||
Debt Instrument, Face Amount | $ 648,000,000 | $ 423,000,000 | ||
Minimum [Member] | Unsecured Debt [Member] | Industrial Authority of the City of Chandler, Arizona [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.40% | |||
Maximum [Member] | Unsecured Debt [Member] | Industrial Authority of the City of Chandler, Arizona [Member] | ||||
Debt Instrument [Line Items] | ||||
Effective Interest Rate | 2.70% |
Fair Value (Detail)
Fair Value (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | $ 7,847 | $ 5,843 | |
Derivative Assets, Fair Value Disclosure | 974 | 292 | |
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 262 | 890 | |
Other than Temporary Impairment Losses, Investments | 122 | 424 | $ 833 |
Non-marketable equity securities | 3,480 | 2,978 | |
Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 17,880 | 17,167 | |
Liabilities, Fair Value Disclosure | 303 | 895 | |
Fair Value, Nonrecurring [Member] | Carrying Value [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Grants Receivable | 543 | 833 | |
Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 2,848 | 2,635 | |
Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 1,665 | 1,340 | |
Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 3,334 | 1,868 | |
Marketable equity securities | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 450 | 1,440 | |
Cost-method Investments [Member] | Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other than Temporary Impairment Losses, Investments | 113 | 416 | $ 537 |
Cash Equivalents [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 713 | 262 | |
Cash Equivalents [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 1,472 | 733 | |
Cash Equivalents [Member] | Repurchase Agreements [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 1,500 | 1,850 | |
Short-Term Investments [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 347 | 937 | |
Short-Term Investments [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 724 | 1,423 | |
Short-Term Investments [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 11 | 428 | |
Other Current Assets [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets, Fair Value Disclosure | 280 | 180 | |
Loans Receivable, Fair Value Disclosure | 0 | 354 | |
Other Long-Term Investments [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 1,898 | 1,843 | |
Other Long-Term Investments [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 825 | 912 | |
Other Long-Term Investments [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 553 | 633 | |
Other Long-Term Assets [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets, Fair Value Disclosure | 706 | 100 | |
Loans Receivable, Fair Value Disclosure | 554 | 229 | |
Other Accrued Liabilities [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 290 | 412 | |
Other Long-Term Liabilities [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 13 | 483 | |
Level 1 [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 1,651 | 2,057 | |
Liabilities, Fair Value Disclosure | 3 | 0 | |
Level 1 [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 0 | 0 | |
Level 1 [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 87 | 67 | |
Level 1 [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 0 | 0 | |
Level 1 [Member] | Marketable equity securities | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 450 | 1,440 | |
Level 1 [Member] | Cash Equivalents [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 1 [Member] | Cash Equivalents [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 1,064 | 550 | |
Level 1 [Member] | Cash Equivalents [Member] | Repurchase Agreements [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 1 [Member] | Short-Term Investments [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 1 [Member] | Short-Term Investments [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 1 [Member] | Short-Term Investments [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 1 [Member] | Other Current Assets [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets, Fair Value Disclosure | 50 | 0 | |
Loans Receivable, Fair Value Disclosure | 0 | 0 | |
Level 1 [Member] | Other Long-Term Investments [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 1 [Member] | Other Long-Term Investments [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 1 [Member] | Other Long-Term Investments [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 1 [Member] | Other Long-Term Assets [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets, Fair Value Disclosure | 0 | 0 | |
Loans Receivable, Fair Value Disclosure | 0 | 0 | |
Level 1 [Member] | Other Accrued Liabilities [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 3 | 0 | |
Level 1 [Member] | Other Long-Term Liabilities [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 0 | 0 | |
Level 2 [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 16,213 | 15,110 | |
Liabilities, Fair Value Disclosure | 300 | 827 | |
Level 2 [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 2,848 | 2,635 | |
Level 2 [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 1,578 | 1,273 | |
Level 2 [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 3,334 | 1,868 | |
Level 2 [Member] | Marketable equity securities | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 2 [Member] | Cash Equivalents [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 713 | 262 | |
Level 2 [Member] | Cash Equivalents [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 408 | 183 | |
Level 2 [Member] | Cash Equivalents [Member] | Repurchase Agreements [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 1,500 | 1,850 | |
Level 2 [Member] | Short-Term Investments [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 347 | 937 | |
Level 2 [Member] | Short-Term Investments [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 724 | 1,423 | |
Level 2 [Member] | Short-Term Investments [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 11 | 428 | |
Level 2 [Member] | Other Current Assets [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets, Fair Value Disclosure | 230 | 180 | |
Loans Receivable, Fair Value Disclosure | 0 | 354 | |
Level 2 [Member] | Other Long-Term Investments [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 1,898 | 1,843 | |
Level 2 [Member] | Other Long-Term Investments [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 825 | 912 | |
Level 2 [Member] | Other Long-Term Investments [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 553 | 633 | |
Level 2 [Member] | Other Long-Term Assets [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets, Fair Value Disclosure | 690 | 100 | |
Loans Receivable, Fair Value Disclosure | 554 | 229 | |
Level 2 [Member] | Other Accrued Liabilities [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 287 | 412 | |
Level 2 [Member] | Other Long-Term Liabilities [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 13 | 415 | |
Level 3 [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 16 | 0 | |
Liabilities, Fair Value Disclosure | 0 | 68 | |
Level 3 [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 0 | 0 | |
Level 3 [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 0 | 0 | |
Level 3 [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Trading assets | 0 | 0 | |
Level 3 [Member] | Marketable equity securities | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Cash Equivalents [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Cash Equivalents [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Cash Equivalents [Member] | Repurchase Agreements [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Short-Term Investments [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Short-Term Investments [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Short-Term Investments [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Other Current Assets [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets, Fair Value Disclosure | 0 | 0 | |
Loans Receivable, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Other Long-Term Investments [Member] | Corporate debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Other Long-Term Investments [Member] | Financial institution instruments | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Other Long-Term Investments [Member] | Government debt | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Other Long-Term Assets [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets, Fair Value Disclosure | 16 | 0 | |
Loans Receivable, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Other Accrued Liabilities [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 0 | 0 | |
Level 3 [Member] | Other Long-Term Liabilities [Member] | Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | $ 0 | $ 68 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss), Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ (1,790) | ||||
Other Comprehensive Income (Loss), before Reclassifications, before Tax | $ (655) | (169) | $ 3,643 | ||
Amounts Reclassified Out Of Accumulated Other Comprehensive Income (Loss), before Tax | 256 | 126 | (2,890) | ||
Tax effects | 93 | (3) | 3 | ||
Other comprehensive income (loss) | (306) | (46) | 756 | ||
Unrealized holding gains (losses) on available-for-sale investments [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 0 | 1,745 | $ 0 | $ 2,179 | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (1,745) | ||||
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 0 | 2,765 | |||
Amounts Reclassified Out Of Accumulated Other Comprehensive Income (Loss), before Tax | 0 | (3,433) | |||
Tax effects | 0 | 234 | |||
Other comprehensive income (loss) | 0 | (434) | |||
Unrealized holding gains (losses) on derivatives [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 54 | (123) | 106 | 130 | (259) |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 24 | ||||
Other Comprehensive Income (Loss), before Reclassifications, before Tax | (11) | (310) | 605 | ||
Amounts Reclassified Out Of Accumulated Other Comprehensive Income (Loss), before Tax | 195 | 9 | (69) | ||
Tax effects | (7) | 48 | (171) | ||
Other comprehensive income (loss) | 177 | (253) | 365 | ||
Actuarial gains (losses) [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | (1,382) | (818) | (963) | (1,028) | (1,280) |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (65) | ||||
Other Comprehensive Income (Loss), before Reclassifications, before Tax | (753) | 157 | 275 | ||
Amounts Reclassified Out Of Accumulated Other Comprehensive Income (Loss), before Tax | 67 | 109 | 103 | ||
Tax effects | 122 | (56) | (61) | ||
Other comprehensive income (loss) | (564) | 210 | 317 | ||
Foreign Currency translation adjustment [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 48 | (33) | (26) | (30) | (534) |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (4) | ||||
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 109 | (16) | (2) | ||
Amounts Reclassified Out Of Accumulated Other Comprehensive Income (Loss), before Tax | (6) | 8 | 509 | ||
Tax effects | (22) | 5 | 1 | ||
Other comprehensive income (loss) | 81 | (3) | 508 | ||
AOCI Including Portion Attributable to Noncontrolling Interest [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ (1,280) | $ (974) | 862 | $ (928) | $ 106 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Intel Security Group [Member] | Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Foreign Currency Translation Gains (Losses) | $ 507 |
Derivative Financial Instrume_3
Derivative Financial Instruments (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | Sep. 28, 2019 | |
Derivative [Line Items] | ||||
Impairments | $ 122 | $ 424 | $ 833 | |
Derivative Asset, Fair Value, Gross Asset | 974 | 292 | ||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (1,071) | 138 | 68 | |
Gross Notional Amounts [Abstract] | ||||
Derivative, notional amount | 40,036 | 43,026 | 38,417 | |
Offsetting Derivative Assets [Abstract] | ||||
Derivative Assets Subject To Master Netting Arrangements, Gross Amounts Offset In The Balance Sheet | 0 | 0 | ||
Derivative Assets, Fair Value Disclosure | 974 | 292 | ||
Derivative Asset, Not Offset, Policy Election Deduction | (144) | (220) | ||
Derivative, Collateral, Obligation to Return Cash | (808) | (72) | ||
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | 22 | 0 | ||
Reverse Repurchase Agreements, Gross Amounts Recognized | 1,850 | 2,099 | ||
Reverse Repurchase Agreements, Gross Amounts Offset In The Balance Sheet | 0 | 0 | ||
Securities Purchased under Agreements to Resell | 1,850 | 2,099 | ||
Securities Purchased under Agreements to Resell, Not Offset, Policy Election Deduction | 0 | 0 | ||
Reverse Repurchase Agreements, Gross Amounts Not Offset In The Balance Sheet - Financial Instruments | (1,850) | (1,999) | ||
Securities Purchased under Agreements to Resell, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | 0 | 100 | ||
Total Assets, Gross Amounts Recognized | 2,824 | 2,391 | ||
Total Assets, Gross Amounts Offset In The Balance Sheet | 0 | 0 | ||
Derivative Asset, Securities Purchased under Agreements to Resell, Securities Borrowed | 2,824 | 2,391 | ||
Derivative Asset, Securities Purchased under Agreements to Resell, Securities Borrowed, Not Offset, Policy Election Deduction | (144) | (220) | ||
Total Assets, Gross Amounts Not Offset In The Balance Sheet - Cash and Non-Cash Collateral Received Or Pledged | (2,658) | (2,071) | ||
Derivative Asset, Securities Purchased under Agreements to Resell, Securities Borrowed, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | 22 | 100 | ||
Offsetting Derivative Liabilities [Abstract] | ||||
Total Liabilities, Gross Amounts Recognized | 262 | 890 | ||
Derivative Liabilities Subject To Master Netting Arrangements, Gross Amounts Offset In The Balance Sheet | 0 | 0 | ||
Derivative Financial Instruments, Liabilities, Fair Value Disclosure | 262 | 890 | ||
Derivative Liability, Not Offset, Policy Election Deduction | (144) | (220) | ||
Derivative, Collateral, Right to Reclaim Cash | (72) | (576) | ||
Derivative Liability, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | 46 | 94 | ||
Designated as Hedging Instrument [Member] | Interest and other, net [Member] | ||||
Derivative Instruments Not Designation as Hedging Instruments [Abstract] | ||||
Gains (Losses) Recognized in Income on Derivatives | 0 | 0 | 0 | |
Not Designated as Hedging Instrument [Member] | ||||
Derivative Instruments Not Designation as Hedging Instruments [Abstract] | ||||
Gains (Losses) Recognized in Income on Derivatives | 469 | 234 | (335) | |
Fair Value Hedging [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | 0 | ||
Assets [Member] | ||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 986 | 280 | ||
Assets [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 746 | 128 | ||
Assets [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 240 | 152 | ||
Liabilities [Member] | ||||
Offsetting Derivative Liabilities [Abstract] | ||||
Total Liabilities, Gross Amounts Recognized | 303 | 895 | ||
Liabilities [Member] | Designated as Hedging Instrument [Member] | ||||
Offsetting Derivative Liabilities [Abstract] | ||||
Total Liabilities, Gross Amounts Recognized | 168 | 718 | ||
Liabilities [Member] | Not Designated as Hedging Instrument [Member] | ||||
Offsetting Derivative Liabilities [Abstract] | ||||
Total Liabilities, Gross Amounts Recognized | 135 | 177 | ||
Foreign currency contracts [Member] | ||||
Gross Notional Amounts [Abstract] | ||||
Derivative, notional amount | 23,981 | 19,223 | 19,958 | |
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net [Abstract] (Deprecated 2018-01-31) | ||||
Gains (Losses) Recognized in Other Comprehensive Income (Loss) on Derivatives (Effective Portion) | (11) | (310) | 605 | |
Foreign currency contracts [Member] | Not Designated as Hedging Instrument [Member] | Interest and other, net [Member] | ||||
Derivative Instruments Not Designation as Hedging Instruments [Abstract] | ||||
Gains (Losses) Recognized in Income on Derivatives | 204 | 372 | (547) | |
Foreign currency contracts [Member] | Assets [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 56 | 44 | ||
Foreign currency contracts [Member] | Assets [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 179 | 132 | ||
Foreign currency contracts [Member] | Liabilities [Member] | Designated as Hedging Instrument [Member] | ||||
Offsetting Derivative Liabilities [Abstract] | ||||
Total Liabilities, Gross Amounts Recognized | 159 | 244 | ||
Foreign currency contracts [Member] | Liabilities [Member] | Not Designated as Hedging Instrument [Member] | ||||
Offsetting Derivative Liabilities [Abstract] | ||||
Total Liabilities, Gross Amounts Recognized | 78 | 155 | ||
Interest Rate Contracts [Member] | ||||
Effect of Fair Value Hedges on Results of Operations [Abstract] | ||||
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | 1,071 | (138) | (68) | |
Gross Notional Amounts [Abstract] | ||||
Derivative, notional amount | 14,302 | 22,447 | 16,823 | |
Interest Rate Contracts [Member] | Not Designated as Hedging Instrument [Member] | Interest and other, net [Member] | ||||
Derivative Instruments Not Designation as Hedging Instruments [Abstract] | ||||
Gains (Losses) Recognized in Income on Derivatives | (32) | 9 | 9 | |
Interest Rate Contracts [Member] | Assets [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 690 | 84 | ||
Interest Rate Contracts [Member] | Assets [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 11 | 20 | ||
Interest Rate Contracts [Member] | Liabilities [Member] | Designated as Hedging Instrument [Member] | ||||
Offsetting Derivative Liabilities [Abstract] | ||||
Total Liabilities, Gross Amounts Recognized | 9 | 474 | ||
Interest Rate Contracts [Member] | Liabilities [Member] | Not Designated as Hedging Instrument [Member] | ||||
Offsetting Derivative Liabilities [Abstract] | ||||
Total Liabilities, Gross Amounts Recognized | 54 | 22 | ||
Other contracts [Member] | ||||
Gross Notional Amounts [Abstract] | ||||
Derivative, notional amount | 1,753 | 1,356 | 1,636 | |
Other contracts [Member] | Not Designated as Hedging Instrument [Member] | Various [Member] | ||||
Derivative Instruments Not Designation as Hedging Instruments [Abstract] | ||||
Gains (Losses) Recognized in Income on Derivatives | 297 | (147) | 203 | |
Other contracts [Member] | Assets [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 50 | 0 | ||
Other contracts [Member] | Liabilities [Member] | Not Designated as Hedging Instrument [Member] | ||||
Offsetting Derivative Liabilities [Abstract] | ||||
Total Liabilities, Gross Amounts Recognized | 3 | 0 | ||
Interest Rate Swaps [Member] | Fair Value Hedging [Member] | ||||
Derivative [Line Items] | ||||
Derivative, amount discontinued | $ 7,100 | |||
Gain to be amortized over remaining life of debt | $ 111 | |||
Gross Notional Amounts [Abstract] | ||||
Derivative, notional amount | 7,100 | 4,800 | ||
Derivative Instruments Not Designation as Hedging Instruments [Abstract] | ||||
Gains (Losses) Recognized in Income on Derivatives | (681) | 390 | ||
Interest Rate Swaps [Member] | Long-term Debt [Member] | Fair Value Hedging [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Fair Value, Net | (12,678) | (19,622) | ||
Derivative, Amount of Hedged Item | 12,000 | 20,000 | ||
Derivative Instruments Not Designation as Hedging Instruments [Abstract] | ||||
Gains (Losses) Recognized in Income on Derivatives | (781) | 390 | ||
Cost-method Investments [Member] | Fair Value, Nonrecurring [Member] | ||||
Derivative [Line Items] | ||||
Impairments | $ 113 | $ 416 | $ 537 |
Retirement Benefit Plans (Detai
Retirement Benefit Plans (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Reduction of projected benefit obligation | $ 150 | ||
Beginning projected benefit obligation | 4,284 | $ 3,433 | $ 3,842 |
Service cost | 54 | 65 | |
Interest cost | 113 | 113 | |
Actuarial (gain) loss | 829 | (204) | |
Currency exchange rate changes | (2) | (121) | |
Plan curtailments | 0 | (150) | |
Plan settlements | (57) | (74) | |
Other changes in projected benefit obligation | (86) | (38) | |
Fair value of plan assets | 2,654 | 2,551 | $ 2,287 |
Actual return on plan assets | 193 | (38) | |
Employer contributions | 30 | 480 | |
Currency exchange rate changes | 3 | (62) | |
Plan settlements | (57) | (74) | |
Other | (66) | (42) | |
Net funded status | 1,630 | 882 | |
Accumulated other comprehensive loss (income), before tax3 | $ 1,730 | 1,038 | |
Defined Benefit Plan, Additional Information [Abstract] | |||
Net Actuarial (Gain) Loss Amortization Percent | 10.00% | ||
Plans with accumulated benefit obligation in excess of plan assets, accumulated benefit obligation | $ 3,862 | 1,965 | |
Plans with accumulated benefit obligation in excess of plan assets, plan assets | 2,654 | 1,106 | |
Plans with projected benefit obligation in excess of plan assets, projected benefit obligation | 4,284 | 2,232 | |
Plans with projected benefit obligation in excess of plan assets, plan assets | $ 2,654 | $ 1,106 | |
Defined Benefit Plan, Funded Status Percentage [Abstract] | |||
Defined Benefit Plan, Funded Percentage | 65.00% | ||
Defined Benefit Plan, Component Of Worldwide Pension And Postretirement Benefit Obligation (percent) | 32.00% | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 2.30% | 3.30% | |
Rate of compensation increase | 3.50% | 3.50% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 3.40% | 3.00% | 3.20% |
Expected long-term rate of return on plan assets | 4.70% | 4.70% | 4.60% |
Rate of compensation increase | 3.50% | 3.30% | 3.60% |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
Estimated Benefit Payments, 2019 | $ 151 | ||
Estimated Benefit Payments, 2020 | 145 | ||
Estimated Benefit Payments, 2021 | 139 | ||
Estimated Benefit Payments, 2022 | 135 | ||
Estimated Benefit Payments, 2023 | 132 | ||
Estimated Benefit Payments, 2024-2028 | 694 | ||
Other long-term assets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net funded status | 0 | $ (244) | |
Other long-term liabilities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net funded status | 1,630 | 1,126 | |
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 397 | 372 | |
UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Projected Benefit Obligations Percentage Split | 35.00% | ||
Fair Value of Plan Assets Percentage Split | 55.00% | ||
AOCI Percentage Split | 35.00% | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 379 | 372 | $ 346 |
Defined Benefit Plan, Additional Information [Abstract] | |||
Accumulated benefit obligations | 1,200 | ||
Defined Benefit Plan, Funded Status Percentage [Abstract] | |||
Defined Benefit Plan, Funded Percentage | 96.00% | ||
UNITED STATES | Pension Plan [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | $ 135 | 197 | $ 243 |
UNITED STATES | Postretirement Health Coverage [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Beginning projected benefit obligation | 633 | 547 | |
Fair value of plan assets | $ 553 | $ 476 | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 3.30% | 4.40% | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
Estimated Benefit Payments, 2019 | $ 28 | ||
Estimated Benefit Payments, 2020 | 30 | ||
Estimated Benefit Payments, 2021 | 31 | ||
Estimated Benefit Payments, 2022 | 32 | ||
Estimated Benefit Payments, 2023 | 34 | ||
Estimated Benefit Payments, 2024-2028 | $ 183 | ||
Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Projected Benefit Obligations Percentage Split | 65.00% | ||
Fair Value of Plan Assets Percentage Split | 45.00% | ||
AOCI Percentage Split | 65.00% | ||
Defined Benefit Plan, Additional Information [Abstract] | |||
Accumulated benefit obligations | $ 2,000 | ||
Marketable equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 278 | 261 | |
Defined Benefit Plan, Target Plan Asset Allocations (percent) | 35.00% | ||
Marketable equity securities | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations (percent) | 10.00% | ||
Financial institution instruments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 119 | 111 | |
Defined Benefit Plan, Target Plan Asset Allocations (percent) | 45.00% | ||
Financial institution instruments | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations (percent) | 90.00% | ||
Assets measured at net asset value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 2,236 | 2,138 | |
Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 21 | $ 41 | |
Hedge Funds [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Target Plan Asset Allocations (percent) | 20.00% | ||
Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 0 | ||
Level 1 [Member] | Marketable equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | ||
Level 1 [Member] | Financial institution instruments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | ||
Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 377 | ||
Level 2 [Member] | Marketable equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 278 | ||
Level 2 [Member] | Financial institution instruments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 99 | ||
Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 20 | ||
Level 3 [Member] | Marketable equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0 | ||
Level 3 [Member] | Financial institution instruments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 20 |
Employee Equity Incentive Pla_3
Employee Equity Incentive Plans (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |||
Market-Based Restricted Stock Units Performance Period (In Years) | 3 years | ||
Share-based Payment Arrangement, Noncash Expense | $ 1,705 | $ 1,546 | $ 1,358 |
Tax Benefit from Compensation Expense | $ 359 | 399 | 520 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |||
Award Requisite Service Period | 4 years | ||
RSUs Vested in Period, Total Fair Value | $ 1,900 | 2,000 | 1,600 |
RSUs Aggregate Intrinsic Value, Vested | 1,300 | $ 1,200 | $ 1,100 |
Compensation Cost Not yet Recognized | $ 2,100 | ||
Compensation Cost Not yet Recognized, Period for Recognition | 1 year 3 months 18 days | ||
Estimated Values And Weighted Average Assumptions [Abstract] | |||
Estimated values (in dollars per share) | $ 48.06 | $ 48.95 | $ 35.30 |
Risk-free interest rate | 2.30% | 2.40% | 1.40% |
Dividend yield | 2.50% | 2.40% | 2.90% |
Restricted Stock Units Activity [Roll Forward] | |||
Number of RSUs outstanding, beginning balance | 89.9 | ||
Number of RSUs granted | 37.6 | ||
Number of RSUs vested | (35.2) | ||
Number of RSUs forfeited | (8.2) | ||
Number of RSUs outstanding, ending balance | 84.1 | 89.9 | |
Number of RSUs expected to vest | 79.8 | ||
Weighted average grant date fair value, RSUs outstanding | $ 43.86 | $ 39.07 | |
Weighted average grant date fair value, RSUs granted | 48.06 | ||
Weighted average grant date fair value, RSUs vested | 36.51 | ||
Weighted average grant date fair value, RSUs forfeited | 42.20 | ||
Weighted average grant date fair value, RSUs expected to vest | $ 43.72 | ||
Share-based Payment Arrangement, Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |||
Expiration Period | 10 years | ||
Market-Based Restricted Stock Units (OSUs) [Member] | |||
Estimated Values And Weighted Average Assumptions [Abstract] | |||
Volatility (percent) | 25.00% | 22.00% | 23.00% |
Restricted Stock Units Activity [Roll Forward] | |||
Number of RSUs outstanding, ending balance | 13 | ||
Market-Based Restricted Stock Units (OSUs) [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |||
Vesting range (percent) | 0.00% | ||
Market-Based Restricted Stock Units (OSUs) [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |||
Vesting range (percent) | 200.00% | ||
Stock Purchase Plan RIghts [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |||
Compensation Cost Not yet Recognized | $ 42 | ||
Compensation Cost Not yet Recognized, Period for Recognition | 2 months | ||
Stock Purchase Plan Shares Issued in Period | 17.1 | 13.7 | 14.5 |
Employee Purchases, Amount | $ 688 | $ 468 | $ 432 |
2006 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |||
Number of Shares Authorized | 866 | ||
Number of Shares Available for Grant | 228 | ||
2006 Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |||
Number of Shares Authorized | 373 | ||
Number of Shares Available for Grant | 119 | ||
Stock Purchase Plan, Purchase Price of Common Stock, Percent | 85.00% |
Commitments (Details)
Commitments (Details) - USD ($) $ in Billions | Dec. 28, 2019 | Dec. 29, 2018 |
Unrecorded Unconditional Purchase Obligation [Line Items] | ||
Unrecorded Unconditional Purchase Obligation | $ 2.8 | $ 3.2 |
Capital Addition Purchase Commitments [Member] | ||
Unrecorded Unconditional Purchase Obligation [Line Items] | ||
Unrecorded Unconditional Purchase Obligation | $ 10.9 | $ 9 |
Contingencies (Details)
Contingencies (Details) - 1 months ended May 31, 2009 € in Billions, $ in Billions | USD ($) | EUR (€) |
EC Fine [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Damages Paid, Value | $ 1.4 | € 1.1 |
Uncategorized Items - a12282019
Label | Element | Value |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1 | $ 69,653,000,000 |
AOCI Attributable to Parent [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1 | (928,000,000) |
Retained Earnings [Member] | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1 | $ 44,507,000,000 |
Common Stock Including Additional Paid in Capital [Member] | ||
Common Stock, Shares, Outstanding | us-gaap_CommonStockSharesOutstanding | 4,687,000,000 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance | us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1 | $ 26,074,000,000 |