Fair Value of Financial Assets and Liabilities

9 Months Ended

Oct. 29, 2023

Fair Value of Financial Assets and Liabilities

The fair values of our financial assets and liabilities are determined using quoted market prices of identical assets or quoted market prices of similar assets from active markets. We review fair value hierarchy classification on a quarterly basis.


		Fair Value at
	Pricing Category	October 29, 2023		January 29, 2023

		(In millions)
Assets
Cash equivalents and marketable securities:
Money market funds	Level 1	$	3,190	$	1,777
Corporate debt securities	Level 2	$	6,918	$	4,797
Debt securities issued by the U.S. Treasury	Level 2	$	5,052	$	4,142
Debt securities issued by U.S. government agencies	Level 2	$	2,311	$	1,834
Certificates of deposit	Level 2	$	418	$	365
Foreign government bonds	Level 2	$	175	$	140


Other assets (Investments in non-affiliated entities):
Publicly-held equity securities	Level 1	$	153	$	11
Privately-held equity securities	Level 3	$	1,019	$	288



Liabilities (1)




0.309% Notes Due 2023	Level 2	$	—	$	1,230
0.584% Notes Due 2024	Level 2	$	1,212	$	1,185
3.20% Notes Due 2026	Level 2	$	945	$	966
1.55% Notes Due 2028	Level 2	$	1,060	$	1,099
2.85% Notes Due 2030	Level 2	$	1,289	$	1,364
2.00% Notes Due 2031	Level 2	$	981	$	1,044
3.50% Notes Due 2040	Level 2	$	756	$	870
3.50% Notes Due 2050	Level 2	$	1,388	$	1,637
3.70% Notes Due 2060	Level 2	$	342	$	410

(1) These liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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