Cash and Investments

12 Months Ended

Aug. 31, 2023

All of our short-term investments and long-term marketable investments were classified as available-for-sale as of the dates noted below. Cash and equivalents and the fair values of our available-for-sale investments, which approximated amortized costs, were as follows:


	As of August 31, 2023								As of September 1, 2022
	Cash and Equivalents		Short-term Investments		Long-term Marketable Investments(1)		Total Fair Value		Cash and Equivalents		Short-term Investments		Long-term Marketable Investments(1)		Total Fair Value

Cash	$	5,771	$	—	$	—	$	5,771	$	6,055	$	—	$	—	$	6,055
Level 1(2)
Money market funds	1,629		—		—		1,629		1,196		—		—		1,196
Level 2(3)
Certificates of deposit	1,172		25		—		1,197		976		50		—		1,026
Corporate bonds	—		737		437		1,174		—		759		995		1,754
Asset-backed securities	—		15		387		402		—		20		608		628
Government securities	5		131		20		156		2		155		44		201
Commercial paper	—		109		—		109		33		85		—		118
	8,577		$	1,017	$	844	$	10,438	8,262		$	1,069	$	1,647	$	10,978
Restricted cash(4)	79								77
Cash, cash equivalents, and restricted cash	$	8,656							$	8,339

(1)The maturities of long-term marketable investments primarily range from one to five years, except for asset-backed securities which are not due at a single maturity date.

(2)The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets.

(3)The fair value of Level 2 securities is measured using information obtained from pricing services, which obtain quoted market prices for similar instruments, non-binding market consensus prices that are corroborated by observable market data, or various other methodologies, to determine the appropriate value at the measurement date. We perform supplemental analysis to validate information obtained from these pricing services. No adjustments were made to the fair values indicated by such pricing information as of August 31, 2023 or September 1, 2022.

(4)Restricted cash is included in other current assets and other noncurrent assets and primarily relates to certain government incentives received prior to being earned and for which restrictions lapse upon achieving certain performance conditions or which will be returned if performance conditions are not met.

Gross realized gains and losses from sales of available-for-sale securities were not significant for any period presented.

Non-marketable Equity Investments

In addition to the amounts included in the table above, we had $218 million and $222 million of non-marketable equity investments without a readily determinable fair value that were included in other noncurrent assets as of August 31, 2023 and September 1, 2022, respectively. For non-marketable investments, we recognized in other non-operating income (expense) a net loss of $7 million for 2023 and net gains of $36 million for 2022 and $70 million for 2021. Our non-marketable equity investments are recorded at fair value on a non-recurring basis and classified as Level 3.