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Financial Instruments (Tables)
 9 Months Ended
Sep. 08, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Values of Financial Assets and Liabilities
The fair values of our financial assets and liabilities as of September 8, 2012 and September 3, 2011 are categorized as follows:
 
 
2012
 
2011
 
Assets(a)
 
Liabilities(a)
 
Assets(a)
 
Liabilities(a)
Available-for-sale securities(b)
$
61

 
$
—

 
$
61

 
$
—

Short-term investments – index funds(c)
$
164

 
$
—

 
$
159

 
$
—

Prepaid forward contracts(d)
$
41

 
$
—

 
$
38

 
$
—

Deferred compensation(e)
$
—

 
$
503

 
$
—

 
$
519

Derivatives designated as fair value hedging instruments:
 
 
 
 
 
 
Interest rate derivatives(f)
$
293

 
$
—

 
$
428

 
$
—

Derivatives designated as cash flow hedging instruments:
 
 
 
 
Foreign exchange contracts(g)
$
10

 
$
31

 
$
12

 
$
23

Interest rate derivatives(f)
—

 
—

 
—

 
56

Commodity contracts(h)
13

 
38

 
28

 
17

 
$
23

 
$
69

 
$
40

 
$
96

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
Foreign exchange contracts(g)
$
30

 
$
6

 
$
5

 
$
19

Interest rate derivatives(f)
128

 
159

 
104

 
140

Commodity contracts(h)
84

 
25

 
24

 
30

 
$
242

 
$
190

 
$
133

 
$
189

Total derivatives at fair value
$
558

 
$
259

 
$
601

 
$
285

Total
$
824

 
$
762

 
$
859

 
$
804

 
 
 
 
 
 
 
 
(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. 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 September 8, 2012 and September 3, 2011, $11 million and $43 million, respectively, are categorized as Level 1 liabilities. The remaining balances are categorized as Level 2 liabilities.
(f)
Based on LIBOR forward rates.
(g)
Based on recently reported market transactions of spot and forward rates.
(h)
Based on recently reported market transactions, primarily swap arrangements
Effective Portion Of Pre-Tax (Gains)/Losses On Derivative Instruments
The effective portion of the pre-tax (gains)/losses on our derivative instruments are categorized in the tables below.
 
12 Weeks Ended
 
Fair Value/Non-
designated Hedges
 
Cash Flow Hedges
 
(Gains)/Losses
Recognized in
Income Statement(a)
 
Losses/(Gains)
Recognized in
Accumulated Other
Comprehensive Loss
 
Losses/(Gains)
Reclassified from
Accumulated Other
Comprehensive Loss
into Income
Statement(b)
 
9/8/2012

 
9/3/2011

 
9/8/2012

 
9/3/2011

 
9/8/2012

 
9/3/2011

Foreign exchange contracts
$
(9
)
 
$
7

 
$
41

 
$
(9
)
 
$
(6
)
 
$
9

Interest rate derivatives
(5
)
 
(84
)
 
—

 
42

 
6

 
4

Commodity contracts
(99
)
 
29

 
(28
)
 
40

 
20

 
(12
)
Total
$
(113
)
 
$
(48
)
 
$
13

 
$
73

 
$
20

 
$
1

 
 
36 Weeks Ended
 
Fair Value/Non-
designated Hedges
 
Cash Flow Hedges
 
(Gains)/Losses
Recognized in
Income Statement(a)
 
Losses/(Gains)
Recognized in
Accumulated Other
Comprehensive Loss
 
Losses/(Gains)
Reclassified from
Accumulated Other
Comprehensive Loss
into Income
Statement(b)
 
9/8/2012

 
9/3/2011

 
9/8/2012

 
9/3/2011

 
9/8/2012

 
9/3/2011

Foreign exchange contracts
$
(16
)
 
$
8

 
$
37

 
$
28

 
$
(4
)
 
$
30

Interest rate derivatives
3

 
(162
)
 
4

 
71

 
15

 
10

Commodity contracts
(76
)
 
(17
)
 
9

 
(15
)
 
47

 
(37
)
Total
$
(89
)
 
$
(171
)
 
$
50

 
$
84

 
$
58

 
$
3

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