Cash, Cash Equivalents and Short-Term Investments (Tables)

6 Months Ended

Jun. 01, 2012

Cash, Cash Equivalents, and Short Term Investments Disclosure [Abstract]

Cash Cash Equivalents and Short term Investments text block

Cash, cash equivalents and short-term investments consisted of the following as of June 1, 2012 (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	295,644	$	—	$	—		$	295,644
Cash equivalents:
Corporate bonds and commercial paper	20,497		—		—			20,497
Money market mutual funds and repurchase agreements	570,920		—		—			570,920
Municipal securities	751		—		—			751
Time deposits	53,818		—		—			53,818
U.S. Treasury securities	9,609		—		(1		)	9,608
Total cash equivalents	655,595		—		(1		)	655,594
Total cash and cash equivalents	951,239		—		(1		)	951,238
Short-term fixed income securities:
Corporate bonds and commercial paper	1,013,196		8,325		(695		)	1,020,826
Foreign government securities	6,745		27		—			6,772
Municipal securities	121,011		109		(6		)	121,114
U.S. agency securities	512,004		2,139		(58		)	514,085
U.S. Treasury securities	382,899		989		(58		)	383,830
Subtotal	2,035,855		11,589		(817		)	2,046,627
Marketable equity securities	321		—		(69		)	252
Total short-term investments	2,036,176		11,589		(886		)	2,046,879
Total cash, cash equivalents and short-term investments	$	2,987,415	$	11,589	$	(887	)	$	2,998,117

Cash, cash equivalents and short-term investments consisted of the following as of December 2, 2011 (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	261,206	$	—	$	—		$	261,206
Cash equivalents:
Corporate bonds and commercial paper	15,948		—		—			15,948
Money market mutual funds and repurchase agreements	687,152		—		—			687,152
Time deposits	15,694		—		—			15,694
U.S. agency securities	2,500		—		—			2,500
U.S. Treasury securities	7,000		—		—			7,000
Total cash equivalents	728,294		—		—			728,294
Total cash and cash equivalents	989,500		—		—			989,500
Short-term fixed income securities:
Corporate bonds and commercial paper	1,109,674		6,533		(4,670		)	1,111,537
Foreign government securities	7,280		43		—			7,323
Municipal securities	106,255		104		(4		)	106,355
U.S. agency securities	374,514		1,496		(117		)	375,893
U.S. Treasury securities	307,181		1,640		(4		)	308,817
Subtotal	1,904,904		9,816		(4,795		)	1,909,925
Marketable equity securities	10,581		1,686		—			12,267
Total short-term investments	1,915,485		11,502		(4,795		)	1,922,192
Total cash, cash equivalents and short-term investments	$	2,904,985	$	11,502	$	(4,795	)	$	2,911,692

Fair Value and Gross Unrealized Losses Related to Available-For-Sale Securities

The following table summarizes the fair value and gross unrealized losses related to available-for-sale securities, aggregated by investment category, that have been in an unrealized loss position for less than twelve months, as of June 1, 2012 and December 2, 2011 (in thousands):

	2012					2011
	Fair  Value		Gross Unrealized Losses			Fair  Value		Gross Unrealized Losses
Corporate bonds and commercial paper	$	184,432	$	(461	)	$	408,178	$	(4,438	)
Municipal securities	26,511		(6		)	17,125		(3		)
U.S. Treasury and agency securities	125,622		(117		)	133,857		(121		)
Total	$	336,565	$	(584	)	$	559,160	$	(4,562	)

The following table summarizes the fair value and gross unrealized losses related to available-for-sale securities, aggregated by investment category, that have been in a continuous unrealized loss position for more than twelve months, as of June 1, 2012 and December 2, 2011 (in thousands):

	2012					2011
	Fair  Value		Gross Unrealized Losses			Fair  Value		Gross Unrealized Losses
Corporate bonds and commercial paper	$	15,583	$	(234	)	$	22,918	$	(232	)
Municipal securities	—		—			2,668		(1		)
Total	$	15,583	$	(234	)	$	25,586	$	(233	)

Cost and Estimated Fair Value of Debt Securities

The following table summarizes the cost and estimated fair value of short-term fixed income securities classified as short-term investments based on stated effective maturities as of June 1, 2012 (in thousands):

	Amortized Cost		Estimated Fair Value
Due within one year	$	945,166	$	946,441
Due between one and two years	499,841		504,375
Due between two and three years	447,771		450,389
Due after three years	143,077		145,422
Total	$	2,035,855	$	2,046,627