Income Taxes (Tables)

12 Months Ended

Dec. 26, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Years Ended (In Millions)	Dec 26, 2020			Dec 28, 2019			Dec 29, 2018
Income before taxes:
U.S.	$	15,452		$	13,729		$	14,753
Non-U.S.	9,626			10,329			8,564
Total income before taxes	25,078			24,058			23,317
Provision for taxes:
Current:
Federal	1,120			1,391			2,786
State	46			37			(11)
Non-U.S.	1,244			1,060			1,097
Total current provision for taxes	2,410			2,488			3,872
Deferred:
Federal	1,369			597			(1,389)
State	25			1			11
Non-U.S.	375			(76)			(230)
Total deferred provision for taxes	1,769			522			(1,608)
Total provision for taxes	$	4,179		$	3,010		$	2,264
Effective tax rate	16.7		%	12.5		%	9.7		%

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Years Ended (In Millions)	Dec 26, 2020			Dec 28, 2019			Dec 29, 2018
Income before taxes:
U.S.	$	15,452		$	13,729		$	14,753
Non-U.S.	9,626			10,329			8,564
Total income before taxes	25,078			24,058			23,317
Provision for taxes:
Current:
Federal	1,120			1,391			2,786
State	46			37			(11)
Non-U.S.	1,244			1,060			1,097
Total current provision for taxes	2,410			2,488			3,872
Deferred:
Federal	1,369			597			(1,389)
State	25			1			11
Non-U.S.	375			(76)			(230)
Total deferred provision for taxes	1,769			522			(1,608)
Total provision for taxes	$	4,179		$	3,010		$	2,264
Effective tax rate	16.7		%	12.5		%	9.7		%

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 26, 2020		Dec 28, 2019		Dec 29, 2018
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
Increase (reduction) in rate resulting from:
Non-U.S. income taxed at different rates	(3.7)		(3.7)		(3.6)
Research and development tax credits	(2.1)		(2.3)		(2.7)
Foreign derived intangible income benefit	(1.9)		(3.2)		(3.7)
Change in permanent reinvestment assertion	1.6		—		0.2
Tax Reform	—		—		(1.3)
Other	1.8		0.7		(0.2)
Effective tax rate	16.7	%	12.5	%	9.7	%

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 26, 2020		Dec 28, 2019
Deferred tax assets:
Accrued compensation and other benefits	$	865	$	740
Share-based compensation	324		294
Inventory	835		760
State credits and net operating losses	1,829		1,511
Other, net	617		515
Gross deferred tax assets	4,470		3,820
Valuation allowance	(1,963)		(1,534)
Total deferred tax assets	2,507		2,286
Deferred tax liabilities:
Property, plant and equipment	(3,109)		(1,807)
Licenses and intangibles	(725)		(720)
Convertible debt	—		(88)
Unrealized gains on investments and derivatives	(735)		(292)
Unremitted earnings of non-U.S. subsidiaries	(403)		(28)
Other, net	(146)		(186)
Total deferred tax liabilities	(5,118)		(3,121)
Net deferred tax assets (liabilities)	$	(2,611)	$	(835)
Reported as:
Deferred tax assets	1,232		1,209
Deferred tax liabilities	(3,843)		(2,044)
Net deferred tax assets (liabilities)	$	(2,611)	$	(835)

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 26, 2020	$	1,534	$	378	$	51	$	1,963
December 28, 2019	$	1,302	$	239	$	(7)	$	1,534
December 29, 2018	$	1,171	$	185	$	(54)	$	1,302

Schedule of Unrecognized Tax Benefits Roll Forward

Uncertain Tax Positions

(In Millions)	Dec 26, 2020		Dec 28, 2019		Dec 29, 2018
Beginning gross unrecognized tax benefits	$	548	$	283	$	211
Settlements and effective settlements with tax authorities	(142)		(4)		(7)
Changes in balances related to tax position taken during prior periods	165		122		(11)
Changes in balances related to tax position taken during current period	257		147		90
Ending gross unrecognized tax benefits	$	828	$	548	$	283