Investments
Investments consist of the following:
|
| | | | | | | |
| September 28,
2013 | | September 29,
2012 |
Investments, equity basis | $ | 2,407 |
| | $ | 2,438 |
|
Investments, other | 442 |
| | 285 |
|
| $ | 2,849 |
| | $ | 2,723 |
|
Investments, Equity Basis
A summary of combined financial information for equity investments, which primarily includes media investments such as AETN and Seven TV, is as follows:
|
| | | | | | | | | | | |
| 2013 | | 2012 | | 2011 |
Results of Operations: | | | | | |
Revenues | $ | 6,231 |
| | $ | 5,923 |
| | $ | 5,529 |
|
Net Income | $ | 1,470 |
| | $ | 1,528 |
| | $ | 1,417 |
|
|
| | | | | | | | | | | |
| September 28,
2013 | | September 29,
2012 | | October 1,
2011 |
Balance Sheet |
| |
| |
|
Current assets | $ | 2,662 |
| | $ | 2,714 |
| | $ | 3,123 |
|
Non-current assets | 5,495 |
| | 5,674 |
| | 5,430 |
|
| $ | 8,157 |
| | $ | 8,388 |
| | $ | 8,553 |
|
Current liabilities | $ | 1,357 |
| | $ | 1,360 |
| | $ | 1,488 |
|
Non-current liabilities | 3,368 |
| | 3,531 |
| | 1,013 |
|
Shareholders’ equity | 3,432 |
| | 3,497 |
| | 6,052 |
|
| $ | 8,157 |
| | $ | 8,388 |
| | $ | 8,553 |
|
As of September 28, 2013, the book value of the Company's equity method investments exceeded our share of the book value of the investees' underlying net assets by approximately $0.7 billion, which represents amortizable intangible assets and goodwill arising from acquisitions.
Investments, Other
As of September 28, 2013 and September 29, 2012, the Company held $305 million and $86 million, respectively, of securities classified as available-for-sale, $101 million and $163 million, respectively, of non-publicly traded cost-method investments and $36 million and $36 million, respectively of investments in leveraged leases.
In fiscal 2013, the Company had realized gains of $40 million on available-for-sale securities. In fiscal years 2012 and 2011, the Company had no significant realized gains or losses on available-for-sale securities.
In fiscal years 2013, 2012 and 2011, the Company recorded non-cash charges of $37 million, $11 million and $24 million, respectively, to reflect other-than-temporary losses in value of certain investments.
