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

6 Months Ended

Jun. 03, 2016

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Cash Cash Equivalents and Short term Investments

Cash, cash equivalents and short-term investments consisted of the following as of June 3, 2016 (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	283,680	$	—	$	—		$	283,680
Cash equivalents:
Corporate bonds and commercial paper	10,997		—		—			10,997
Money market mutual funds	576,242		—		—			576,242
Time deposits	15,460		—		—			15,460
Total cash equivalents	602,699		—		—			602,699
Total cash and cash equivalents	886,379		—		—			886,379
Short-term fixed income securities:
Asset-backed securities	97,655		290		(3		)	97,942
Corporate bonds and commercial paper	2,111,343		12,609		(881		)	2,123,071
Foreign government securities	1,277		4		—			1,281
Municipal securities	140,958		165		(49		)	141,074
U.S. agency securities	58,107		87		—			58,194
U.S. Treasury securities	1,009,734		893		(160		)	1,010,467
Total short-term investments	3,419,074		14,048		(1,093		)	3,432,029
Total cash, cash equivalents and short-term investments	$	4,305,453	$	14,048	$	(1,093	)	$	4,318,408

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:
Asset-backed securities	83,449		11		(146		)	83,314
Corporate bonds and commercial paper	1,890,253		2,273		(5,612		)	1,886,914
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

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 June 3, 2016 and November 27, 2015 (in thousands):

	2016					2015
	Fair  Value		Gross Unrealized Losses			Fair  Value		Gross Unrealized Losses
Corporate bonds and commercial paper	$	249,383	$	(608	)	$	1,112,883	$	(5,377	)
Asset-backed securities	8,090		(3		)	60,057		(147		)
Municipal securities	59,541		(45		)	35,594		(50		)
Foreign government securities	—		—			1,268		(8		)
U.S. Treasury and agency securities	305,013		(160		)	820,570		(1,287		)
Total	$	622,027	$	(816	)	$	2,030,372	$	(6,869	)

Continuous Unrealized Loss Position Twelve Months or Longer 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 were in a continuous unrealized loss position for more than twelve months, as of June 3, 2016 and November 27, 2015 (in thousands):

	2016					2015
	Fair  Value		Gross Unrealized Losses			Fair  Value		Gross Unrealized Losses
Corporate bonds and commercial paper	$	51,656	$	(273	)	$	30,218	$	(233	)
Municipal securities	1,185		(4		)	1,300		(1		)
Total	$	52,841	$	(277	)	$	31,518	$	(234	)

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 3, 2016 (in thousands):

	Amortized Cost		Estimated Fair Value
Due within one year	$	1,075,024	$	1,075,472
Due between one and two years	1,228,003		1,230,460
Due between two and three years	725,076		729,900
Due after three years	390,971		396,197
Total	$	3,419,074	$	3,432,029