Fair Value Measurements (Tables)
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9 Months Ended |
Sep. 26, 2026 |
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| Fair Value Disclosures [Abstract] |
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| Schedule of Information About the Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following tables present information about the company’s financial assets and liabilities measured at fair value on a recurring basis: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 26, | | Quoted
prices in
active
markets | | Significant
other
observable
inputs | | Significant
unobservable
inputs | | (In millions) | | 2026 | | (Level 1) | | (Level 2) | | (Level 3) | Assets | | | | | | | | | Cash equivalents | | $ | 2,510 | | | $ | 2,510 | | | $ | — | | | $ | — | | Bank time deposits | | 600 | | | 600 | | | — | | | — | | Investments | | 117 | | | 22 | | | — | | | 95 | | | | | | | | | | | Insurance contracts | | 313 | | | — | | | 313 | | | — | | Derivative contracts | | 231 | | | — | | | 231 | | | — | | Contingent consideration | | 69 | | | — | | | — | | | 69 | | Total assets | | $ | 3,839 | | | $ | 3,132 | | | $ | 543 | | | $ | 164 | | | | | | | | | | | Liabilities | | | | | | | | | Derivative contracts | | $ | 590 | | | $ | — | | | $ | 590 | | | $ | — | | Contingent consideration | | 76 | | | — | | | — | | | 76 | | Total liabilities | | $ | 667 | | | $ | — | | | $ | 590 | | | $ | 76 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, | | Quoted
prices in
active
markets | | Significant
other
observable
inputs | | Significant
unobservable
inputs | | (In millions) | | 2025 | | (Level 1) | | (Level 2) | | (Level 3) | Assets | | | | | | | | | Cash equivalents | | $ | 6,907 | | | $ | 6,907 | | | $ | — | | | $ | — | | Bank time deposits | | 250 | | | 250 | | | — | | | — | | Investments | | 103 | | | 27 | | | — | | | 76 | | | | | | | | | | | Insurance contracts | | 280 | | | — | | | 280 | | | — | | Derivative contracts | | 685 | | | — | | | 685 | | | — | | Contingent consideration | | 67 | | | — | | | — | | | 67 | | Total assets | | $ | 8,292 | | | $ | 7,184 | | | $ | 966 | | | $ | 143 | | | | | | | | | | | Liabilities | | | | | | | | | Derivative contracts | | $ | 506 | | | $ | — | | | $ | 506 | | | $ | — | | Contingent consideration | | 16 | | | — | | | — | | | 16 | | Total liabilities | | $ | 522 | | | $ | — | | | $ | 506 | | | $ | 16 | |
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| Schedule of Fair Value of Investments, Assets Measured on Recurring Basis |
The following table provides a rollforward of investments classified as level 3: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | (In millions) | | September 26, 2026 | | September 27, 2025 | | September 26, 2026 | | September 27, 2025 | | Investments | | | | | | | | | | Beginning balance | | $ | 92 | | | $ | 59 | | | $ | 76 | | | $ | 21 | | | Purchases | | 3 | | | 6 | | | 19 | | | 44 | | | | | | | | | | | | | | | | | | | | | Ending balance | | $ | 95 | | | $ | 65 | | | $ | 95 | | | $ | 65 | |
The following table provides a rollforward of the fair value, as determined by level 3 inputs (such as likelihood of a qualifying transaction), of the contingent consideration asset: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | (In millions) | | September 26, 2026 | | September 27, 2025 | | September 26, 2026 | | September 27, 2025 | Contingent consideration asset | | | | | | | | | Beginning balance | | $ | 68 | | | $ | — | | | $ | 67 | | | $ | — | | Acquisition | | — | | | 65 | | | — | | | 65 | | | | | | | | | | | Changes in fair value included in earnings | | 1 | | | — | | | 2 | | | — | | Ending balance | | $ | 69 | | | $ | 65 | | | $ | 69 | | | $ | 65 | |
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| Schedule of Fair Value of Investments, Liabilities Measured on Recurring Basis |
The following table provides a rollforward of the fair value, as determined by level 3 inputs (such as likelihood of achieving production or revenue milestones, as well as changes in the fair values of the investments underlying a recapitalization investment portfolio), of the contingent consideration liabilities. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | (In millions) | | September 26, 2026 | | September 27, 2025 | | September 26, 2026 | | September 27, 2025 | Contingent consideration liabilities | | | | | | | | | | Beginning balance | | $ | 178 | | | $ | 5 | | | $ | 16 | | | $ | 13 | | | Acquisitions (including assumed balances) | | 10 | | | 3 | | | 165 | | | 3 | | | Payments | | (19) | | | — | | | (28) | | | (6) | | | Changes in fair value included in earnings | | (92) | | | 4 | | | (76) | | | 3 | | | Currency translation | | — | | | — | | | (1) | | | — | | | Ending balance | | $ | 76 | | | $ | 12 | | | $ | 76 | | | $ | 12 | |
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| Schedule of the Fair Value of the Company's Debt Instruments |
The carrying value and fair value of the company’s debt instruments are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 26, 2026 | | December 31, 2025 | | (In millions) | | Carrying value | | Fair value | | Carrying value | | Fair value | Senior notes | | $ | 41,108 | | | $ | 36,943 | | | $ | 39,171 | | | $ | 36,606 | | | | | | | | | | | | | | | | | | | | Other | | — | | | — | | | 1 | | | 1 | | | | $ | 41,108 | | | $ | 36,943 | | | $ | 39,172 | | | $ | 36,607 | |
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| Schedule of the Carrying Value of the Company's Debt Instruments |
The carrying value and fair value of the company’s debt instruments are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 26, 2026 | | December 31, 2025 | | (In millions) | | Carrying value | | Fair value | | Carrying value | | Fair value | Senior notes | | $ | 41,108 | | | $ | 36,943 | | | $ | 39,171 | | | $ | 36,606 | | | | | | | | | | | | | | | | | | | | Other | | — | | | — | | | 1 | | | 1 | | | | $ | 41,108 | | | $ | 36,943 | | | $ | 39,172 | | | $ | 36,607 | |
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