Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Financial Instruments [Abstract]

Fair Values Of Financial Assets And Liabilities

	2011				2010
	Assets(a)		Liabilities(a)		Assets(a)		Liabilities(a)
Available-for-sale securities(b)	$	59	$	—	$	636	$	—
Short-term investments – index funds(c)	$	157	$	—	$	167	$	—
Prepaid forward contracts(d)	$	40	$	—	$	48	$	—
Deferred compensation(e)	$	—	$	519	$	—	$	559
Derivatives designated as fair value hedging instruments:
Interest rate derivatives(f)	$	300	$	—	$	276	$	7
Derivatives designated as cash flow hedging instruments:
Forward exchange contracts(g)	$	25	$	5	$	8	$	23
Interest rate derivatives(f)		—		69		8		5
Commodity contracts – other(h)		3		77		70		2
Commodity contracts – futures(i)		—		1		1		23
	$	28	$	152	$	87	$	53
Derivatives not designated as hedging instruments:
Forward exchange contracts(g)	$	17	$	20	$	1	$	7
Interest rate derivatives(f)		107		141		6		45
Commodity contracts – other(h)		10		51		28		1
Commodity contracts – futures(i)		—		11		—		1
	$	134	$	223	$	35	$	54
Total derivatives at fair value	$	462	$	375	$	398	$	114
Total	$	718	$	894	$	1,249	$	673

(a) Financial assets are classified on our balance sheet within prepaid expenses and other current assets and other assets, with the exception of available-for-sale securities and short-term investments, which are classified as short-term investments. Financial liabilities are classified on our balance sheet within accounts payable and other current liabilities and other liabilities. Unless specifically indicated, all financial assets and liabilities are categorized as Level 2 assets or liabilities.

(b) Based on the price of common stock. Categorized as a Level 1 asset.

(c) Based on price changes in index funds used to manage a portion of market risk arising from our deferred compensation liability. Categorized as a Level 1 asset.

(d) Based primarily on the price of our common stock.

(e) Based on the fair value of investments corresponding to employees' investment elections. As of December 31, 2011 and December 25, 2010, $44 million and $170 million, respectively, are categorized as Level 1 liabilities. The remaining balances are categorized as Level 2 liabilities.

(f) Based on LIBOR and recently reported transactions in the marketplace.

(g) Based on observable market transactions of spot and forward rates.

(h) Based on recently reported transactions in the marketplace, primarily swap arrangements.

(i) Based on average prices on futures exchanges. Categorized as a Level 1 asset or liability.

Effective Portion Of Pre-Tax (Gains)/Losses On Derivative Instruments

	Fair Value/Non- designated Hedges						Cash Flow Hedges
	Losses/(Gains) Recognized in Income Statement(a)						(Gains)/Losses Recognized in Accumulated Other Comprehensive Loss						Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement(b)
	2011			2010			2011			2010			2011			2010
Forward exchange contracts	$	14		$	6		$	(9	)	$	26		$	26		$	40
Interest rate derivatives		(113	)		(104	)		84			75			15			7
Commodity contracts		25			(30	)		51			(32	)		(36	)		28
Total	$	(74	)	$	(128	)	$	126		$	69		$	5		$	75

(a) Interest rate derivative gains are primarily from fair value hedges and are included in interest expense. These gains are substantially offset by increases in the value of the underlying debt, which is also included in interest expense. All other gains/losses are from non-designated hedges and are included in corporate unallocated expenses.

(b) Interest rate derivative losses are included in interest expense. All other gains/losses are primarily included in cost of sales.