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

3 Months Ended

Mar. 03, 2017

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 March 3, 2017 (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	284,102	$	—	$	—		$	284,102
Cash equivalents:
Corporate bonds and commercial paper	1,030		—		—			1,030
Money market mutual funds	762,830		—		—			762,830
Time deposits	20,934		—		—			20,934
Total cash equivalents	784,794		—		—			784,794
Total cash and cash equivalents	1,068,896		—		—			1,068,896
Short-term fixed income securities:
Asset-backed securities	111,952		8		(437		)	111,523
Corporate bonds and commercial paper	2,394,514		3,755		(8,440		)	2,389,829
Municipal securities	137,243		62		(198		)	137,107
U.S. agency securities	28,541		15		—			28,556
U.S. Treasury securities	913,704		55		(2,053		)	911,706
Total short-term investments	3,585,954		3,895		(11,128		)	3,578,721
Total cash, cash equivalents and short-term investments	$	4,654,850	$	3,895	$	(11,128	)	$	4,647,617

Cash, cash equivalents and short-term investments consisted of the following as of December 2, 2016 (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	208,635	$	—	$	—		$	208,635
Cash equivalents:
Corporate bonds and commercial paper	1,249		—		—			1,249
Money market mutual funds	782,210		—		—			782,210
Municipal securities	1,301		—		—			1,301
Time deposits	17,920		—		—			17,920
Total cash equivalents	802,680		—		—			802,680
Total cash and cash equivalents	1,011,315		—		—			1,011,315
Short-term fixed income securities:
Asset-backed securities	111,009		95		(190		)	110,914
Corporate bonds and commercial paper	2,464,769		3,135		(9,554		)	2,458,350
Municipal securities	134,710		37		(525		)	134,222
U.S. agency securities	39,538		42		—			39,580
U.S. Treasury securities	1,008,195		194		(1,470		)	1,006,919
Total short-term investments	3,758,221		3,503		(11,739		)	3,749,985
Total cash, cash equivalents and short-term investments	$	4,769,536	$	3,503	$	(11,739	)	$	4,761,300

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 March 3, 2017 and December 2, 2016 (in thousands):

	2017					2016
	Fair  Value		Gross Unrealized Losses			Fair  Value		Gross Unrealized Losses
Corporate bonds and commercial paper	$	1,228,225	$	(8,420	)	$	1,282,076	$	(9,474	)
Asset-backed securities	99,481		(436		)	54,063		(189		)
Municipal securities	58,653		(198		)	114,810		(525		)
U.S. Treasury and agency securities	812,832		(2,053		)	580,529		(1,470		)
Total	$	2,199,191	$	(11,107	)	$	2,031,478	$	(11,658	)

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 March 3, 2017 and December 2, 2016 (in thousands):

	2017					2016
	Fair  Value		Gross Unrealized Losses			Fair  Value		Gross Unrealized Losses
Corporate bonds and commercial paper	$	16,445	$	(20	)	$	39,162	$	(80	)
Asset-backed securities	510		(1		)	1,331		(1		)
Total	$	16,955	$	(21	)	$	40,493	$	(81	)

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 March 3, 2017 (in thousands):

	Amortized Cost		Estimated Fair Value
Due within one year	$	1,072,212	$	1,072,109
Due between one and two years	1,332,306		1,330,659
Due between two and three years	771,270		767,999
Due after three years	410,166		407,954
Total	$	3,585,954	$	3,578,721