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

6 Months Ended

Jun. 02, 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 June 2, 2017 (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
Current assets:
Cash	$	239,947	$	—	$	—		$	239,947
Cash equivalents:
Money market mutual funds	1,062,174		—		—			1,062,174
Time deposits	14,829		—		—			14,829
Total cash equivalents	1,077,003		—		—			1,077,003
Total cash and cash equivalents	1,316,950		—		—			1,316,950
Short-term fixed income securities:
Asset-backed securities	101,420		37		(198		)	101,259
Corporate bonds and commercial paper	2,427,417		7,584		(4,304		)	2,430,697
Municipal securities	144,567		117		(84		)	144,600
U.S. agency securities	2,600		—		—			2,600
U.S. Treasury securities	937,334		22		(1,949		)	935,407
Total short-term investments	3,613,338		7,760		(6,535		)	3,614,563
Total cash, cash equivalents and short-term investments	$	4,930,288	$	7,760	$	(6,535	)	$	4,931,513

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 June 2, 2017 and December 2, 2016 (in thousands):

	2017					2016
	Fair  Value		Gross Unrealized Losses			Fair  Value		Gross Unrealized Losses
Corporate bonds and commercial paper	$	941,981	$	(4,299	)	$	1,282,076	$	(9,474	)
Asset-backed securities	66,840		(198		)	54,063		(189		)
Municipal securities	42,601		(84		)	114,810		(525		)
U.S. Treasury and agency securities	883,711		(1,949		)	580,529		(1,470		)
Total	$	1,935,133	$	(6,530	)	$	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 June 2, 2017 and December 2, 2016 (in thousands):

	2017					2016
	Fair  Value		Gross Unrealized Losses			Fair  Value		Gross Unrealized Losses
Corporate bonds and commercial paper	$	4,122	$	(5	)	$	39,162	$	(80	)
Asset-backed securities	—		—			1,331		(1		)
Total	$	4,122	$	(5	)	$	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 June 2, 2017 (in thousands):

	Amortized Cost		Estimated Fair Value
Due within one year	$	1,037,384	$	1,036,827
Due between one and two years	1,426,391		1,425,402
Due between two and three years	751,185		751,878
Due after three years	398,378		400,456
Total	$	3,613,338	$	3,614,563