Cash, Cash Equivalents and Short-term Investments |
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Cash, cash equivalents and short-term investments consisted of the following as of November 27, 2015 (in thousands): | | | | | | | | | | | | | | | | | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Estimated Fair Value | Current assets: | | | | | | | | Cash | $ | 352,371 |
| | $ | — |
| | $ | — |
| | $ | 352,371 |
| Cash equivalents: | | | | | | | | Money market mutual funds | 482,479 |
| | — |
| | — |
| | 482,479 |
| Municipal securities | 1,850 |
| | — |
| | (1 | ) | | 1,849 |
| Time deposits | 13,461 |
| | — |
| | — |
| | 13,461 |
| U.S. Treasury securities | 26,400 |
| | — |
| | — |
| | 26,400 |
| Total cash equivalents | 524,190 |
| | — |
| | (1 | ) | | 524,189 |
| Total cash and cash equivalents | 876,561 |
| | — |
| | (1 | ) | | 876,560 |
| Short-term fixed income securities: | | | | | | | | Corporate bonds and commercial paper | 1,890,253 |
| | 2,273 |
| | (5,612 | ) | | 1,886,914 |
| Asset-backed securities | 83,449 |
| | 11 |
| | (146 | ) | | 83,314 |
| Foreign government securities | 1,276 |
| | — |
| | (8 | ) | | 1,268 |
| Municipal securities | 137,280 |
| | 101 |
| | (49 | ) | | 137,332 |
| U.S. agency securities | 130,397 |
| | 85 |
| | (14 | ) | | 130,468 |
| U.S. Treasury securities | 873,400 |
| | 101 |
| | (1,273 | ) | | 872,228 |
| Total short-term investments | 3,116,055 |
| | 2,571 |
| | (7,102 | ) | | 3,111,524 |
| Total cash, cash equivalents and short-term investments | $ | 3,992,616 |
| | $ | 2,571 |
| | $ | (7,103 | ) | | $ | 3,988,084 |
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Cash, cash equivalents and short-term investments consisted of the following as of November 28, 2014 (in thousands): | | | | | | | | | | | | | | | | | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Estimated Fair Value | Current assets: | | | | | | | | Cash | $ | 348,283 |
| | $ | — |
| | $ | — |
| | $ | 348,283 |
| Cash equivalents: | |
| | | | | | |
| Money market mutual funds | 705,978 |
| | — |
| | — |
| | 705,978 |
| Time deposits | 63,139 |
| | — |
| | — |
| | 63,139 |
| Total cash equivalents | 769,117 |
| | — |
| | — |
| | 769,117 |
| Total cash and cash equivalents | 1,117,400 |
| | — |
| | — |
| | 1,117,400 |
| Short-term fixed income securities: | | | | | | | |
| Corporate bonds and commercial paper | 1,514,632 |
| | 5,253 |
| | (509 | ) | | 1,519,376 |
| Foreign government securities | 4,499 |
| | 12 |
| | — |
| | 4,511 |
| Municipal securities | 174,775 |
| | 438 |
| | (12 | ) | | 175,201 |
| U.S. agency securities | 497,154 |
| | 1,295 |
| | (64 | ) | | 498,385 |
| U.S. Treasury securities | 423,075 |
| | 1,080 |
| | (28 | ) | | 424,127 |
| Subtotal | 2,614,135 |
| | 8,078 |
| | (613 | ) | | 2,621,600 |
| Marketable equity securities | 153 |
| | 338 |
| | — |
| | 491 |
| Total short-term investments | 2,614,288 |
| | 8,416 |
| | (613 | ) | | 2,622,091 |
| Total cash, cash equivalents and short-term investments | $ | 3,731,688 |
| | $ | 8,416 |
| | $ | (613 | ) | | $ | 3,739,491 |
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Continuous Unrealized Loss Position Less Than Twelve Months 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 November 27, 2015 and November 28, 2014 (in thousands): | | | | | | | | | | | | | | | | | | 2015 | | 2014 | | Fair Value | | Gross Unrealized Losses | | Fair Value | | Gross Unrealized Losses | Corporate bonds and commercial paper | $ | 1,112,883 |
| | $ | (5,377 | ) | | $ | 291,890 |
| | $ | (443 | ) | Asset-backed securities | 60,057 |
| | (147 | ) | | — |
| | — |
| Municipal securities | 35,594 |
| | (50 | ) | | 21,759 |
| | (12 | ) | Foreign government securities | 1,268 |
| | (8 | ) | | — |
| | — |
| U.S. Treasury and agency securities | 820,570 |
| | (1,287 | ) | | 43,507 |
| | (64 | ) | Total | $ | 2,030,372 |
| | $ | (6,869 | ) | | $ | 357,156 |
| | $ | (519 | ) |
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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 November 27, 2015 (in thousands): | | | | | | | | | | Amortized Cost | | Estimated Fair Value | Due within one year | $ | 853,041 |
| | $ | 853,007 |
| Due between one and two years | 1,205,254 |
| | 1,202,586 |
| Due between two and three years | 773,150 |
| | 771,332 |
| Due after three years | 284,610 |
| | 284,599 |
| Total | $ | 3,116,055 |
| | $ | 3,111,524 |
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